5.2.1 By Region
CohnReznick separated survey properties in the 50 states, the District of Columbia, Guam, the U.S. Virgin Islands, and Puerto Rico into 12 regions with similar geographic profiles that most ideally classified the country. Figure 5.2.1(A) illustrates the average equity level in each region as a percentage of the overall stabilized portfolio.
Portfolio Distribution by Region Region Number
Constituent States
FIGURE 5.2.1(A)
% of Stabilized Portfolio
Region 1
CA, OR, WA
17.6%
Region 2
AK, HI
0.4%
Region 3
ID, MT, WY
0.7%
Region 4
AZ, CO, NM, NV, UT
4.5%
Region 5
MN, ND, SD
2.1%
Region 6
IA, KS, NE, MO
4.3%
Region 7
IN, IL, MI, OH, WI
Region 8
AR, OK, TX
Region 9
AL, FL, GA, LA, MS
Region 10
KY, NC, SC, TN, VA, WV
Region 11
CT, DC, DE, MA, MD, ME, NH, NJ, NY, PA, RI, VT
Region 12
GU, PR, VI
14.2% 7.2% 13.5% 8.2% 26.1% 0.9%
A CohnReznick Report | 37