et multiple times each month to the Virgin Islands or New York, all in compliance with a court order. He has spent blocks of time in Home Depot and Sports Authority multiple times, as documented in his daily probation logs. On March 31, he was at Home Depot from 6 to 10 p.m., according to his daily probation l

nd and missed you at the banquet (but completely understand your commitment to your job!!!) I want to make sure you received the $50 gift card from Sports Authority in the mail! I sent it over a week ago so it should have reached you by now >> >> :) Lesley Groff >> >> :) Ty Groff EFTA00327642

difference. Jeffrey: It's not the money. Do you have anything smaller? Woman 2: I called both Sports Authoritys, we can order them. Jeffrey: Go to Sports Authority. Have you met Jessica? Woman 2: Yes. In Boston. [background noise] Jeffrey: Thank you. Woman 2: Bye now. Jessica: You know how it blended? This i

ffrey: It's not the money. Do you have anything smaller? EFTA00432821 Woman 2: I called both Sports Authoritys, we can order them. Jeffrey: Go to Sports Authority. Have you met Jessica? Woman 2: Yes. In Boston. (background noise) Jeffrey: Thank you. Woman 2: Bye now. Jessica: You know how it blended? This

n in a long time 3 ...but catalysts remain elusive 4 Data Centers remain our favorite property type 4 Strip REIT valuations looking better, but Sports Authority optics could be a challenge 5 Slowing trends expected in the Apartments, Malls, and Office sectors... 5 ...Healthcare fundamentals healthy, but

ady reported strong early 3O leasing activity, we think the stock could see a nice near-term move higher. Strip REIT valuations looking better, but Sports Authority optics could be a challenge Last quarter we got less positive on the Strips as valuations had gotten ahead of fundamentals as investors sought the

ception. Shopping center trends also demonstrated some moderation with rent growth off by 10bps from 2Q's level and vacancy up 10bps, likely due to Sports Authority related vacancy, though vacancy has been hovering near 10% since early 2015. Malls have found some equilibrium as well with the national vacancy ra

ting setup for 2 names with secular demand drivers and above average growth prospects over the next few years. Strip valuations looking better. but Sports Authority optics could be a chal€enge Last O we got less positive on the Strips as valuations had gotten ahead of fundamentals. With the markets seemingly fe

NY for $390M Proforma the Upstate NY sale and 1H dispositions, DDR will have disposed of close to $700M YTD (FY guidance S600.800M). • Update on Sports Authority with 9 locations likely still to deal with post 20 end. • Update on strategy and conditions on the ground in Puerto Rico Swop/ Dear.le arm. convoy

unk (SPLK: DB Buy rated, USD56.71 by Karl Keirstead) space and how much of their leased space they will occupy in January. • Update on 4 remaining Sports Authority locations to lease • Update on the redevelopment opportunity for Coco Walk and Sunset Plaza. Recent press reports that plans have been submitted t

ew ciao Key Shopping Center topics/questions for the quarto: • Development and redevelopment outlook • Anchor and small shop retailer health • Sports Authority releasing, downtime arid capex update • Logans Roadhouse and Golfsmith exposure and store closures • Outlook and thoughts on Staples/Office Depot

n the Rite Aid (RAD: DB Hold rated, USD7.06, by George Hill) portfolio sales. • Update on leasing remaining space at the Zurich asset • Update on Sports Authority exposure and releasing progress. As of 2O, Dicks (DKS: DB Buy rated, USD54.46 by Mike Baker) had assumed right of 1 store and was expected to assume

east and west regions • Update on Office Depot (11 locations), Staples (7 locations), and Gander Mountain (2 locations) • Update on remaining 3 Sports Authority locations left to lease • Commentary on Logan's (4 locations) and Golfsmith (2 locations), which are in bankruptcy • Update on CAO search San De

ate mom. US 5$ NOI grtnyth yea 'Cash PrOrata. incl redeye, Note' consensus 030118tOS are based on Thomson compiled data as of 10,4/16 • Update on Sports Authority exposure with previously commentary of 22 remaining boxes to release as of 2Q 3011 COM MIS Moat 50 .40 50 .38 SO 36 $0 37 Ada MUNI 1 898

ting setup for 2 names with secular demand drivers and above average growth prospects over the next few years. Strip valuations looking hotter. but Sports Authority optics could be a challenge Last Q we got less positive on the Strips as valuations had gotten ahead of fundamentals. With the markets seemingly fe

ady reported strong early 3O leasing activity, we think the stock could see a nice near-term move higher. Strip REIT valuations looking better, but Sports Authority optics could be a challenge Last quarter we got less positive on the Strips as valuations had gotten ahead of fundamentals as investors sought the

ception. Shopping center trends also demonstrated some moderation with rent growth off by 10bps from 2Q's level and vacancy up 10bps, likely due to Sports Authority related vacancy, though vacancy has been hovering near 10% since early 2015. Malls have found some equilibrium as well with the national vacancy ra

ns around ARO deal with SPG and ABG • Update on retailer environment, store closings, releasing activity • Update on the 3 remaining large format Sports Authority locations • Update on expectations around PSUN, as of 2016, 6 expected to vacate by year end, with 65 stores retained. • Update on Sears JV and p

ry cla• Key Shopping Center topics/gees:ions for the quarter • Development and redevelopment outlook • Anchor and small shop retailer health • Sports Authority releasing, downtime arid capex update • Logans Roadhouse and Golfsmith exposure and store closures • Outlook and thoughts on Staples/Office Depot

30 we. We Update on redevelopment opportunities within the portfolio Update on plans to reduce single asset markets which total over 90 Update on Sports Authority releasing at 5 remaining locations • Update on plans to improve small shop occupancy, outparcel leasing and entertainment and restaurant use. • U