As we explained, the pro forma statement of cash flow shown in Exhibit 9–8 is very basic. As each major property type is considered in this chapter, pro forma statements of cash flow may be affected because of certain lease provisions that are important to each property type. We should also note that our explanation in this chapter is limited to pro forma statements for only a one-year period. As will be seen in later chapters, when doing an investment analysis, pro forma statements must be developed annually for longer periods of time. We now turn to an examination of how leases may vary for office, retail, industrial/warehouse, and multifamily properties.