ULI Triangle

2014 Real Estate Trends

Survey Results

November 11th 2013

Profile of Respondents

Expected Profitability for 2013 and 2014 for All Respondents

Distressed Debt

Distressed Properties

Core-plus Investments

Opportunistic Investments

Core Investments

Development

Value-add Investments

Abysmal Fair Excellent

Prospects for investing in the following real estate strategies in 2014

Debt Capital for Development

Debt Capital For Refinancing

Debt Capital for Acquisitions

Equity Capital for Investing

Substantially Moderately In Balance Modestly Substantially

UNDERSUPPLIED OVERSUPPLIED

Expected Overall State of the Real Estate Capital Markets for 2014

Investment and Development Outlook: Chapel Hill/Carrboro

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Raleigh CBD

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Durham CBD

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Cary

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Suburban Raleigh

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Suburban Durham

Investment

Development

SUBMARKET RANKINGS:

1. Chapel Hill/Carrboro

2. Raleigh CBD

3. Durham CBD

4. Cary

5. Suburban Raleigh

6. Suburban Durham

7. Research Triangle Park

Investment and Development Outlook: Research Triangle Park

Issues Affecting Investment and Development in the Triangle

Live Polling Results

Audience members were asked to pick one submarket and one asset class during the ULI

Emerging Trends Discussion on November 20, 2013. The results of the live poll were: