LOCAL INVESTMENT BY FOREIGNERS

Based on a survey completed in December, 1989, of the values and opinions of 330 Southern California real estate industry executives. Have you or your clients been approached by a foreign investor about an acquisition or joint venture within the last 12 months? Yes: 75% No: 25% If so, what was/were the country(ies) of the investors? Australia: 12% Canada: 15 England: 12 France: 3 Germany: 9 Hong Kong: 33 Japan: 84 Netherlands: 4 Taiwan: 28 Other: 15 Which properties will significantly benefit from foreign investment in Southern California in the next three years? High-rise office buildings: 80% Hotels: 72 Industrial/warehouse: 21 Low-rise office buildings: 13 Multifamily: 23 R&D; office buildings: 11 Regional retail: 44 Retirement housing: 8 Single-family: 17 Strip retail: 9 Unimproved land: 29 SOURCE: Arthur Andersen & Co.