Hot Properties

                                              *PRICE           PRICE/1998
                                                               CASH FLOW

APARTMENT INVESTMENT & MANAGEMENT              35 1/8               11
Ambitious acquirers in apartments

CARRAMERICA Emerging national player in        30 7/8               12
office REITs

CATELLUS Major landowner and developer         18 3/4               23
in California

FOREST CITY Developing big plots of land for   57 1/2               7
large-scale urban projects

POST PROPERTIES The class REIT act in the      38 11/16             11
depressed Atlanta apartment market

SPIEKER PROPERTIES REIT leader in red-hot      41 15/16             14
California office market

STARWOOD LODGING TRUST Uncertain ITT/Sheraton  52 1/4               11
deal dragging down the price of high-flying
hotel REIT

*AS OF DEC. 15
DATA: FIRST CALL CORP.