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Epstein File EFTA01388593: Deutsche Bank (DS10)

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This document contains Deutsche Bank financial analysis and market coverage reports, including REIT trading data as of October 10, 2016, showing DB REIT trading at a 7.1% discount to consensus NAV. The document appears to be internal Deutsche Bank Securities Inc. research or market analysis materials with no direct connection to Epstein activities.

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Excerpt 1
**Bank**, CMA Source **Deutsche** **Bank**, Haver DB REIT coverage trading at a 7.1% discount to consensus NAV meaningfully below the 5.0% premium seen in July Figure
Excerpt 2
DB REIT coverage trading at a 7.1% discount to NAV vs a -1.4% discount historically Source **Deutsche** **Bank**, company date, as of 10/10/16 Source **Deutsche**
Excerpt 3
**Bank**, SNL, company date **Deutsche** **Bank** Securities Inc.

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