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Liquidity: Public non-listed REITs
Private VS. Public REITs (PNLRs) and private REITs will often
advertise their lack of volatility as a
Here’s where we draw a much-
selling point. And they’re right about
needed distinction between private
that. Their investors don’t have to
or otherwise unlisted real estate
worry nearly so much about tracking
investment trusts and those that are
daily price movements.
publicly listed. Both are available to
the average investor, and both do
While, no, they acknowledge,
operate under the same technical and
they’re not going to make any major
legal structure.
unexpected gains that way, they’re
also not going to take any major
Yet this is not a “six of one, half-dozen
unexpected hits. It’s peace of mind at
of the other” sort of situation. There
its best, they claim.
are distinct differences that need to be
addressed, particularly when it comes
to liquidity, transparency, and ultimate
costs.
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