2012 REIT Capital Survey Executive Summary

April 18, 2012

We are pleased to present you with the results of the fourth annual Chatham Financial REIT Capital Survey. As an advisor to over 90 public real estate companies, representing roughly 70% of all US-based REIT assets, Chatham has a unique perspective on how REITS are funding themselves and managing resulting risk exposures. We hope this survey allows us to serve you better by providing greater insight into how public real estate companies are managing capital and financial risks in the current capital markets environment. Further, we hope to increase the depth of our understanding of your business, and the industry, to make us better advisors.

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