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NATIONAL MULTIFAMILY BENCHMARK STUDY
The results of the recently completed national benchmark survey sponsored by the National Multi Housing Council (“NMHC”) and conducted by CEL & Associates, Inc. are in and the findings may surprise you. In the 4th quarter of 2003, CEL & Associates, Inc. designed a 29-question performance benchmark survey and distributed the survey instrument to leading multifamily owners and operators nationwide. The completed surveys were tabulated, analyzed and the preliminary results were presented at the NMHC January conference in Boca Raton, Florida. The graphics on this page highlight five of the key findings. Complimentary copies of the report are available to all who participated in the survey.

For more information, contact:
CEL & Associates, Inc.
12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025
phone: 310.571.3113   fax: 310.571.3117
www.celassociates.com   e-mail:cel@celassociates.com