1. Wow--Lodging Research Network. ..... To see one of the very best real estate web sites yet, visit Coopers & Lybrand’s Lodging Research Network, which is devoted solely to the hospitality industry. From the design, to the content, to the e-commerce features, this site has it all. You’ll find comparable sales, demographics, company financials and mapping tools. You can browse much of the site for free (after registering) and begin purchasing data for as little as $5 using a credit card.

2. Web Success--RealData on Capital Gains Tax 1997. ...."Quality content drives traffic." That’s the motto of Frank Gallinelli of RealData, who posts informative articles on topics of interest to users of RealData’s investment analysis software. Recent articles on the new capital gains tax and the use of cap rates to estimate values have generated increased traffic at his web site for weeks. It’s an instructive lesson on how to capture eyeballs when your web site is competing with hundreds of others.

3. New and Notable. ..... The Corporate Realty Investment Company (CRIC) invests for its own account in net leased and other credit real estate. ….. The Horizon Group is a REIT specializing in the management and development of outlet centers nationwide. ….. The Merry Land & Investment Company is a REIT specializing in high quality apartment communities in the South. ….. The Real Estate Investment Association—REIA is devoted to fostering the creation of capital formation.

The F.W. Dodge Real Estate Group forecasts commercial and hotel construction in 58 metropolitan markets (warehouse and retail next month). ….. KLIK.COM, created by B.J. Murray, develops property management data exchange applications for web deployment in the Metropolitan New York area. ….. Robert Cohn Associates, Inc., provides commercial and industrial real estate services in the greater Capital Region of Albany, NY.

4. PikeNet Express. ..... Before the end of the year, I plan to introduce the PikeNet Express, a weekly e-mail supplement to the PikeNet Dispatch. The Dispatch will remain the same and be sent each Thursday; the Express will be sent the following Monday to the same mailing list. The Express, which will help underwrite the cost of producing the Dispatch, will contain one paragraph of marketing information paid for by the sponsor. Want to send information on your service or product to over 4,625 real estate professionals? Contact me at or 415-485-6700. Full details are available under "Express Sponsorship" at the address below:

http://www.pikenet.com/advertising.html

5. Knowledge Base: Synthetic Lease Followup. ..... Jeff Coddington of Oxford Commercial mentioned that he found some good information on synthetic leases at the NAREIT site, the National Real Estate Investor site and the Corporate Realty Investment Company’s (CRIC) site. ….. I’ve posted step-by-step instructions on how to find CRIC’s article "The ‘Synthetic’ Lease Versus the ‘Authentic’ Lease" in the Financial Research section of the PikeNet Knowledge Base.

http://www.pikenet.com/pike?func=showPublicPage&page= questions/question_financial

6. Sponsor. ...... "Few people affect the day-to-day management of the commercial real estate industry as does Michael Lipsey! For the latest in Training Trends, Consulting Services, Technological Updates and a FREE copy of Digitizing Real Estate, visit The Lipsey Company web page. Find out how The Lipsey Company can immediately and measurably affect your sales, volume and profitability."

http://www.lipsey-co.com.

7. Subscribing. .....If you would like to subscribe to this free Dispatch, please send e-mail with the word "subscribe" in the title to Peter Pike .