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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01388635: Austin and Asset (DS10)

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This document is a real estate market analysis report dated July 2016 prepared by CBRE-EA and Deutsche Asset Management examining commercial real estate trends across multiple markets including San Francisco, Seattle, and Austin. The report analyzes vacancy rates, net absorption, and technology sector exposure across suburban and central business district markets.

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Excerpt 1
1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 Completions Net Absorption Net Absorption (10-Yr Avg) Vacancy Source: CBRE-EA (history): Deutsche **Asset**
Excerpt 2
spread of 100 basis points. 32 Suburban markets also showed a wider spread relative to the long-term average than CBD markets. 28 CBRE-EA & Deutsche **Asset**
Excerpt 3
Data as of July 2016. a CBRE-EA & Deutsche **Asset** Management.

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