In terms of penetration into the various commercial real estate sectors, REITs continue to have the largest hold on the regional mall segment. REITs own more than a third of the regional mall real estate market, a 2.5 percent increase over the amount owned in 2001. The percentage of the non-mall retail market owned by REITs also rose slightly in 2002 to 12.9 percent. Ownership in the other sectors decreased in 2002, with the hotel sector posting the sharpest decline. REITs have the lowest ownership percentage in the apartment and office markets, where private investors and institutions have a large stake.

Public Real Estate Ownership by Property Type
Sector	2002	2001
Regional Malls	36.3%	33.8%
Hotels	14.6%	16.2%
Non-Mall Retail	12.9%	12.4%
Warehouses	8.6%	9.3%
Apartments	7.8%	7.9%
Office	7.6%	7.6%
Source: Prudential Real Estate Investors.