Through the roof
Are real-estate investment trusts right for private investors?
INTEREST in commercial real estate is booming—and no wonder. In America, the market for so-called REITs (real-estate investment trusts, usually publicly traded companies which manage portfolios of property) was first launched in 1960 and is now worth almost $300 billion. For the past five years, it has outperformed the benchmark S&P 500 index, delivering a total return in 2004 of more than 32%.
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