Survey of Emerging Market Conditions: Quarter 4, 2007

Orlando Area. Cap Rates in Orlando are, on average, lower than that of the state (0.39 percentage points) and range from 6.7% (Large Retail) to 7.8% (Strip Centers) Cap rates have risen over the past quarter for all but one property type, with the largest changes being seen in Condo Conversion (+1.36% change) and Apartments (+0.99% change). ................
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