Real Estate QUIZMASTER

1. Real Estate QUIZMASTER Definitions Analytical The Cycle Numerical Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

2. Real Estate QUIZMASTER Definitions Analytical The Cycle Numerical Miscellaneous 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

3. Definitions for 100 • The sum of all newly leased space is called _______ Absorption “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

4. Definitions for 200 • Class ___ property has • rents in the upper 60% of • the market sector’s range “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

5. Definitions for 300 • The percentage of the • total usable space to the • total gross space in the • building “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

6. Definitions for 400 • _______ lending is when a lender only has recourse against the property and not against any personal assets “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

7. Definitions for 500 • The percentage of space on a floor that is not usable, expressed as a percent of Useable Area “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

8. Analytical for 100 • Most of the projects started at or near the top of the market cycle turn out to be ____ than expected “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

9. Analytical for 200 • Digital archives instead of paper filings tend to have this effect on the average space usage per office worker “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

10. Analytical for 300 • Manufacturers who require _____ tend to locate in less developed or regulated countries “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

11. Analytical for 400 • Developers increasingly invest in _____ buildings when market is perceived strong with increasing demand and insufficient supply “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

12. Analytical for 500 _________ property is mostly custom built and owned by the user “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

13. The Cycle for 100 • Declining rents and minimum new construction occurs during this phase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

14. The Cycle for 200 • Rising rents and occupancy occurs during this phase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

15. DAILY DOUBLE “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

16. Daily Double The Cycle for 300 • Excess supply, little or no construction occurs during this phase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

17. The Cycle for 400 • Increasing vacancy with construction still taking place occurs during this phase “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

18. The Cycle for 500 • _________ capital flows are an important reason for cycles “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

19. Numerical for 100 The minimum size for new Class A office building in CBD of a typical US city would be approximately ______ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

20. Numerical for 200 The value of a property with an expected NOI of $2,000,000 at a cap rate of 8.5% “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

21. Numerical for 300 • The NOI of a 200,000 sq ft property with rents at $22psf and a vacancy of 93% “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

22. Numerical for 400 • The economic life of industrial buildings for depreciation purposes by IRS (year 2000 data) “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

23. If the economic life of a building is assumed to be 25 years, then the impliedrecapture rate per year is ______% Numerical for 500 “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

24. Miscellaneous for 100 • A Phase 1 study should be performed by this type of firm “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

25. Miscellaneous for 200 New office space demand = Net New Office Employees X _____ “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

26. Miscellaneous for 300 • A Phase ____ is the actual clean up of the site “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

27. Miscellaneous for 400 • E I P “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner

28. Miscellaneous for 500 • _______ works on the premise that the waste of one industry should be consumed as raw-material (or input) by another “Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner