2021 Retail Investor Survey Report

06 PLANS FOR BUYING OR SELLING MORE ASSETS IN 2021

MATCHING FUNDS ONLY 14.4% WE ARE ONLY FOCUSED ON OPERATIONS 2.8%

WE’RE A NET BUYER 52.8% WE’RE A NET SELLER 29.2%

INSTITUTIONAL INVESTOR / ADVISOR

PUBLIC REIT

PRIVATE REIT

PRIVATE INVESTOR

WE ARE ONLY FOCUSED ON OPERATIONS 2.7% MATCHING FUNDS ONLY 10.8% WE’RE A NET SELLER 21.6% WE’RE A NET BUYER 64.9%

WE ARE ONLY FOCUSED ON OPERATIONS 5.0% WE’RE A NET SELLER 20.0% MATCHING FUNDS ONLY 40.0% WE’RE A NET BUYER 35.0%

WE ARE ONLY FOCUSED ON OPERATIONS 4.3% WE’RE A NET SELLER 47.8% WE’RE A NET BUYER 47.8%

WE ARE ONLY FOCUSED ON OPERATIONS 15.4% WE’RE A NET SELLER 30.8% WE’RE A NET BUYER 53.8%

8 // RETAIL INVESTOR SURVEY REPORT