Media Inquiries Mary Beth Campbell Communications Manager 602.222.5083

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Market conditions have created a "flight to quality" movement steering buyers and lenders to quality assets in quality locations to lower their investment risk. This flight to quality, combined with the new lending requirements for more equity, will push cap rates higher for non-core assets. Competition for quality assets is still strong in Metro Phoenix and is expected to continue. The following factors contribute to this flight to quality movement. - Loose underwriting and competition pushed lenders into the subprime market...