defining commercial property income and appreciation returns for comparability to stock market based measures by michael s young vice president director of quantitative research the rreef funds 101 california street san francisco 94111 phone 415 781 3300 fax 2229 e mail myoung com david m geltner professor real estate department finance university cincinnati 428 lindner hall po box 210195 ohio 45221 0195 513 556 7071 4891 uc edu willard mcintosh managing prudential investors 8 campus drive parsippany new jersey 07054 201 683 1793 1794 douglas poutasse senior aew capital management 225 franklin boston massachusetts 02110 2803 617 261 9559 9555 dpoutass published in vol 12 no 2 summer 1995 pp 19 30 copyright institutional investor inc all rights reserved do not reproduce this material without permission original publisher personal use only