Epstein Secrets

reputable marina companies in the United States. The Company owns and/or operates 22 institutional-quality marinas across the U.S. Headquartered in Dallas, TX, Suntex employs 24 people at its home office and nearly 400 people on site at the marinas. The Company has a national geographic footprint and

ribed in this communication are subject to change without notice. Securities and investment banking activities in the United States are performed by Deutsche Bank Securities Inc., member NYSE. FINRA and SIPC, and its broker-dealer affiliates. Lending and other commercial banking activities in the United States are performed

have a manageable supply pipeline in the near term, although construction is brisk in a few markets like Nashville, New York, Seattle, Denver, and Dallas. Of importance, New York City-area construction activity (10.7% of existing supply) is concentrated in Upscale and Upper Midscale (select-service)

ting supply) is concentrated in Upscale and Upper Midscale (select-service) hotel rooms in Midtown South/Times Square and outer boroughs. Page 78 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086637 CONFIDENTIAL SDNY_GM_00232821 EFTA01385353

unday, April 23, 2017 08:55 PM To: Stewart Oldfield Subject: Re: catching up/risk premia investing Hi Stew. Did we firm up a time tomorrow? I'm in Dallas and will do from the office. A On Apr 21, 2017, at 2:10 PM, Stewart Oldfield wrote: Copying in Audie. We are wide open Monday after 2. Shall we s

AIA Director Deutsche Bank Trust Company Americas Deutsche Bank Wealth Management 345 Park Avenue, New York, NY 10154 Securities offered through Deutsche Bank Securities Inc. From: Audie Apple Sent: Sunday, April 23, 2017 08:55 PM To: Stewart Oldfield Subject: Re: catching up/risk premia investing Hi Stew. Did we firm

pdate on the planned 3O 16 completion of Post Afton Oaks (Houston) and any leasing so far vs. budget Update on PPS's top four markets: Atlanta, DC, Dallas, and Tampa with particular focus on submarkets pressured by supply this year (Buckhead in Atlanta, Alexandria in DC, & Uptown Dallas) Sovc• Danchro

submarkets pressured by supply this year (Buckhead in Atlanta, Alexandria in DC, & Uptown Dallas) Sovc• Danchro Bank carprry dote. mane, Page 20 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092240 CONFIDENTIAL SDNY_GM_00238424 EFTA01388596

en investment; Update on the unsecured damages claim vs Haggen ($21M claim which they expected to recover at a minimum of $15M thereof). Update on Dallas on support staff hiring. • Update on tenant watch list, with a focus on restaurant commentary • Plans for the remaining 2017 CMBS maturities foll

FFO guidance for the following fiscal year in 3Q. For AFFO, DB is at $0.93 and consensus is at $0.92 Soon. Detest)* Bee awes* dew Thomson Page 36 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092256 CONFIDENTIAL SDNY_GM_00238440 EFTA01388607

th enterprise and public cloud players • Pricing, yield and construction cost trends • Fundamentals in key markets, specifically in NOVA Houston. Dallas, and Phoenix • Construction plans in the Pacific Northwest and NOVA following land purchases. CONE recently acquired 29 acres in the Phoenix metro

iple are unchanged (17.4x EBITDA and 19.1x FAD). Please see Figure 97 for details on our target price Sara Danci* an comearry dam. Mormon Page 44 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092264 CONFIDENTIAL SDNY_GM_00238448 EFTA01388613

tions. for 30 I6 • Pricing/occupancy in markets with elevated supply such as Atlanta, San Antonio, Houston, Kansas City. Denver. Orlando, Chicago, Dallas, and Sacramento, with each having over 9% of inventory currently under construction • Updated FX outlook for 2016 with GBP 7-8% weaker vs. 20. We

ital outlook given recent transaction activity in the sector • Acquisition outlook and investment appetite given current cost of capital Page 50 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092270 CONFIDENTIAL SDNY_GM_00238454 EFTA01388619

pdate on the planned 3O 16 completion of Post Afton Oaks (Houston) and any leasing so far vs. budget Update on PPS's top four markets: Atlanta, DC, Dallas, and Tampa with particular focus on submarkets pressured by supply this year (Buckhead in Atlanta, Alexandria in DC, & Uptown Dallas) Sovc• Danchro

submarkets pressured by supply this year (Buckhead in Atlanta, Alexandria in DC, & Uptown Dallas) Sovc• Danchro Bank carprry dote. mane, Page 20 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0092947 CONFIDENTIAL SDNY_GM_00239131 EFTA01388946

DPT income is extremely bearish given healthy rent coverage of 2.85x and MPW's geographic exposure within the ADPT portfolio which is skewed toward Dallas, Houston, and Colorado, whereas the weakest volumes for ADPT appear to have been in the San Antonio and Austin markets where MPW has 7 assets in de

.28 0.35A 20 FF0 0.30 0.32A 30 FFO 0.32 0.30 40 FFO 0.35 0.32 FY FFO (USD) 1.25 1.29 1.39 P/FFO (x) 10.5 10.1 94 Sage. On.,. 6.A. Deutsche Bank Securities Inc. Distributed on: 02/11/2016 05:45:50 GMT The views expressed above accurately reflect the personal views of the authors about the subject companies