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sd-10-EFTA01388608Dept. of Justice

EFTA Document EFTA01388608

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18 October 2016 REITs US REIT 3O16 Earnings Preview Office: Valuations remain attractive, but specter of recession remains an overhang 'Figure 66: 1-Month Office performance 0% If n nits osow o: 11 "4" 4 efi tr. a at 'Figure 67: YTD Office performance Mks tocojew co &nowt ewenniArt seninietotoWelefillet iel, As of 1 Of 14/1 6 'Figure 68: vacancy flat while rents decelerate 14.0% 12.0% 100% 00% 00% 00% 20% Map/ Marks 20.0% 150% 100% I SO% Milli Will IIIIII It 0,, 1

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Dept. of Justice
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sd-10-EFTA01388608
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