|
|
LUXURY |
|
FULL SERIVCE |
|
|
CBD Cap
Rate |
|
Suburban
Cap Rates |
|
CBD Cap
Rate |
|
Suburban
Cap Rates |
|
|
Low |
High |
|
Low |
High |
|
Low |
High |
|
Low |
High |
| Tier I |
Boston |
4.00% |
6.50% |
|
6.00% |
7.00% |
|
4.50% |
6.50% |
|
6.50% |
7.50% |
| Chicago |
7.00% |
7.50% |
|
7.75% |
8.50% |
|
7.25% |
9.25% |
|
7.75% |
8.75% |
| Miami |
6.25% |
7.00% |
|
7.00% |
7.75% |
|
6.75% |
7.75% |
|
7.75% |
8.75% |
| San Diego |
5.50% |
7.50% |
|
6.50% |
7.75% |
|
6.25% |
7.75% |
|
6.50% |
7.75% |
| Washington DC |
4.50% |
6.00% |
|
6.00% |
7.50% |
|
5.75% |
6.75% |
|
6.50% |
8.50% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tier II |
Atlanta |
6.50% |
8.00% |
|
7.00% |
8.25% |
|
7.25% |
8.50% |
|
7.75% |
9.00% |
| Dallas/Ft Worth |
7.50% |
8.50% |
|
7.50% |
8.50% |
|
7.50% |
8.00% |
|
7.50% |
8.50% |
| Denver |
6.75% |
7.25% |
|
7.00% |
7.50% |
|
7.00% |
7.50% |
|
8.00% |
8.75% |
| Philadelphia |
6.00% |
6.50% |
|
6.50% |
7.00% |
|
7.50% |
8.25% |
|
7.75% |
8.50% |
| Phoenix |
6.75% |
6.75% |
|
6.75% |
6.75% |
|
7.75% |
7.75% |
|
7.75% |
7.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tier III |
Austin |
6.50% |
8.00% |
|
7.00% |
8.50% |
|
7.00% |
7.50% |
|
7.50% |
8.50% |
| Charlotte |
6.00% |
8.00% |
|
6.50% |
8.00% |
|
6.75% |
8.00% |
|
7.25% |
9.00% |
| Jacksonville |
6.25% |
7.50% |
|
7.00% |
8.00% |
|
7.00% |
8.00% |
|
7.50% |
8.50% |
| Kansas City |
7.50% |
8.50% |
|
8.00% |
8.75% |
|
8.00% |
9.25% |
|
8.25% |
9.50% |
| St. Louis |
7.50% |
9.50% |
|
7.50% |
9.75% |
|
7.50% |
11.00% |
|
8.00% |
10.75% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SELECT |
|
ECONOMY |
|
|
CBD Cap
Rate |
|
Suburban
Cap Rates |
|
CBD Cap
Rate |
|
Suburban
Cap Rates |
|
|
Low |
High |
|
Low |
High |
|
Low |
High |
|
Low |
High |
| Tier I |
Boston |
5.00% |
7.00% |
|
7.00% |
8.25% |
|
N/A |
N/A |
|
8.00% |
9.00% |
| Chicago |
8.00% |
9.25% |
|
8.00% |
9.25% |
|
9.00% |
10.50% |
|
9.00% |
11.00% |
| Miami |
8.00% |
8.50% |
|
8.75% |
9.25% |
|
9.00% |
10.00% |
|
9.50% |
10.25% |
| San Diego |
6.50% |
8.00% |
|
6.75% |
8.25% |
|
7.50% |
9.00% |
|
8.50% |
9.25% |
| Washington DC |
6.25% |
7.25% |
|
7.50% |
9.00% |
|
7.00% |
8.00% |
|
8.50% |
9.25% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tier II |
Atlanta |
7.75% |
9.00% |
|
8.25% |
9.50% |
|
8.50% |
9.75% |
|
9.50% |
11.00% |
| Dallas/Ft Worth |
7.25% |
8.00% |
|
7.50% |
9.00% |
|
7.75% |
10.00% |
|
8.25% |
11.00% |
| Denver |
7.50% |
8.25% |
|
8.00% |
8.75% |
|
8.25% |
9.00% |
|
8.50% |
9.50% |
| Philadelphia |
7.50% |
8.50% |
|
7.75% |
8.50% |
|
8.75% |
9.25% |
|
10.00% |
10.50% |
| Phoenix |
7.50% |
7.50% |
|
7.75% |
7.75% |
|
9.00% |
9.00% |
|
9.25% |
9.25% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tier III |
Austin |
6.75% |
9.00% |
|
8.25% |
9.25% |
|
9.25% |
10.50% |
|
9.25% |
10.50% |
| Charlotte |
7.00% |
8.50% |
|
7.75% |
9.00% |
|
8.25% |
10.00% |
|
9.00% |
11.00% |
| Jacksonville |
8.00% |
8.75% |
|
8.25% |
9.00% |
|
9.50% |
10.00% |
|
9.50% |
10.00% |
| Kansas City |
7.75% |
8.75% |
|
8.00% |
9.00% |
|
9.00% |
11.00% |
|
9.25% |
11.50% |
| St. Louis |
8.00% |
10.50% |
|
8.00% |
10.25% |
|
9.00% |
10.50% |
|
9.00% |
10.50% |
|
|
|
|
|
|
|
|
|
|
|
|
|