CBRE CAP RATE SURVEY

IN THIS ISSUE:
Overview
Office
Multihousing
Retail
Industrial
Hotels Hotel
Appendix
Hotels | National
* Compared to 1st half 2012
Luxury Full Service Select Service Economy
Stabilized Trend* Stabilized Trend* Stabilized Trend* Stabilized Trend*
Albuquerque 7.00% - 7.25%
8.00% - 9.00% I 8.25% - 9.50% ↓ 9.50% - 11.00%
Atlanta 7.00% - 8.00% I 8.00% - 9.50% ↓ 8.50% - 10.00% ↓ 9.00% - 11.00% I
Austin 7.25% - 7.50%
8.00% - 8.25%
8.75% - 9.00%
9.75% - 10.00% I
↓
↓
Baltimore 6.50% - 7.50% I 7.00% - 7.50% ↓ 7.00% - 8.00% ↓ 8.00% - 8.50% ↓
Boston 6.50% - 7.00% ↓ 7.00% - 8.00%
8.00% - 10.00% I 9.00% - 11.00% ↓
Charlotte 7.00% - 8.00%
8.00% - 9.00% ↓ 9.00% - 10.00% ↓ 11.00% - 12.00% ↓
Chicago 6.00% - 7.50% ↓ 6.00% - 7.50%
7.00% - 9.00% I 7.00% - 9.00%
Cincinnati 6.50% - 9.00% N/A 7.00% - 9.50%
8.00% - 10.00%
8.50% - 11.00%
Cleveland 6.50% - 9.00% N/A 7.00% - 9.50%
8.00% - 10.00%
8.50% - 11.00%
Columbus 8.00% - 9.00% N/A 9.00% - 10.00%
9.00% - 10.00% I 9.50% - 12.00%
Dallas 7.00% - 8.00% ↓ 7.50% - 8.50% I 7.50% - 8.50%
9.00% - 11.00% ↓
Denver 6.25% - 6.75%
7.75% - 8.25%
7.75% - 8.75% I 9.25% - 9.75% ↓
Detroit 8.00% - 8.50% I 9.00% - 10.00%
9.50% - 10.50% I 10.50% - 11.50%
Jacksonville 6.00% - 8.00%
7.00% - 9.00%
8.00% - 10.00% I 9.00% - 11.00% ↓
Kansas City 8.00% - 8.50% I 9.25% - 10.00% ↓ 8.50% - 9.00%
10.00% - 11.00% ↓
Las Vegas 7.00% - 8.00%
7.00% - 8.00%
7.50% - 9.00%
9.00% - 11.00% I
↓
↓
↓
↓
Los Angeles 7.00% - 7.75% I 7.00% - 8.00% ↓ 7.00% - 8.00% ↓ 8.00% - 8.50% ↓
Manhattan 4.50% - 5.50% I 6.00% - 7.00%
6.50% - 7.50%
8.00% - 9.00%
Miami 6.00% - 7.00%
↓
↓
↓
7.00% - 8.00%
↓
↓
↓
↓
↓
↓
↓
↓
I
I
↓
I
↓
↓
↓
↓
↓
↓
↓
7.50% - 9.00% ↓ 8.00% - 9.50%
Minneapolis 6.00% - 7.75% ↓ 7.50% - 9.50% ↓ 8.00% - 10.00% ↓ 8.50% - 11.00% ↓
Nashville 7.00% - 8.00%
8.00% - 9.50% ↓ 8.50% - 10.00% ↓ 9.00% - 11.00%
Orange County 7.00% - 7.75% I 7.00% - 8.00% ↓ 7.00% - 8.00% ↓ 8.00% - 8.50% I
Orlando 6.00% - 8.00%
7.00% - 9.00% ↓ 8.00% - 10.00% ↓ 9.00% - 11.00% ↓
Philadelphia 7.00% - 8.00% I 7.00% - 7.50% I 7.00% - 7.50% I 8.00% - 8.50% I
Phoenix 6.50% - 8.00% ↓ 7.50% - 9.00% ↓ 7.75% - 9.00%
Pittsburgh 7.00% - 7.50% N/A 8.00% - 8.50%
↓
8.25% - 9.00%
↓
↓
↓
↓
↓
↓
↓
↓
↓
↓
↓
9.50% - 12.00% ↓
9.00% - 10.00%
Portland 6.00% - 8.00% ↓ 7.00% - 9.00% ↓ 8.50% - 10.50% ↓ 9.00% - 11.00% ↓
Raleigh 7.50% - 8.50% I 7.75% - 8.75%
8.25% - 8.75%
10.00% - 11.00% I
Sacramento 8.00% - 9.00% N/A 8.50% - 9.50% N/A 9.00% - 10.00% N/A 9.00% - 10.50% N/A
San Antonio 7.00% - 8.00% I 7.50% - 8.50% ↓ 7.50% - 8.50% I 9.00% - 11.00% I
San Diego 7.00% - 7.75% I 7.00% - 8.00%
7.00% - 8.00%
8.00% - 8.50%
San Francisco 5.50% - 6.50% ↓ 6.50% - 7.50%
7.50% - 9.50% ↓ 9.00% - 11.00%
San Jose 6.50% - 7.50% ↓ 7.00% - 8.00% I 7.50% - 9.50% ↓ 9.00% - 11.00% I
Seattle 6.00% - 8.00% ↓ 7.00% - 9.00% ↓ 8.50% - 10.50% I 9.50% - 11.00%
Tampa 6.00% - 8.00%
↓
7.00% - 9.00%
↓
↓
↓
↓
8.00% - 10.00%
↓
↓
↓
↓
↓
↓
↓
9.00% - 11.00% I
Washington, DC 6.50% - 7.50% I 7.00% - 7.50% ↓ 7.00% - 8.00% ↓ 8.00% - 8.50% ↓
Cap Rate Survey
February 2013
>
32