Crossing capital market boundaries
In looking at the US capital markets, one often comes across issues from Reits, real estate investment trusts. They are a feature peculiar to the US, and in the words of one banker, are “a funny little animal”, although not so little any more.
The total capitalization of the Reit market is now some $240 billion, and Peter Baccile, head of real estate investment banking at Chase in New York, believes as much as half the commercial real estate in the US could be owned by Reits over the medium term.
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