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private REIT

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private REIT

A real estate investment trust that is not traded on the national stock exchanges. Investments typically last for a set time period,usually 10 to 12 years.At the end,investors cash out through an initial public offering,a merger,or a liquidation.The investment usually lacks the liquidity of a publicly traded REIT—it is often difficult to redeem the shares or sell to a third party. Also called unlisted REIT,nontraded REIT,and nonpublicly traded REIT.



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4 billion acquisition of a portfolio of properties from a public REIT; The $600 million refinancing of the Affinia Hotels portfolio; Acquisition by Moinian Group/opportunity fund joint ventures of 295 Madison Avenue and 475 Fifth Avenue; An opportunity fund's $450 million purchase of a premiere midtown Manhattan office tower using a private REIT structure.
Founded by Robert Behringer, the firm is a successor to Harvard Property Trust, a private REIT that invested in institutional office buildings in the central United States, and, Behringer Partners, a sponsor of numerous "opportunistic" real estate investments.
They would rather invest in REIT stocks today or co-invest with somebody possessing operating expertise, such as Gregory Greenfield and Associates, an Atlanta-based private REIT that has been acquiring a lot of malls, says White.
 
 
 
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