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Real Estate

does anyone know the difference between Real Estate Investment Trusts, Commingled Real Estate Funds and Separate managed Accounts?

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Yes. Reits, crefs, and SMAs!

reits - usually publicly traded real estate type funds that owns, operates or finances income-producing real estate. Indirect 

Cref - funds created via contributions from individual owners of real estate. This pool is then managed under certain mandate. Direct investment. Ever hear of TIAA-Cref?

SMA - an investment account managed individually by a manager. Usually has equity in it, like a mutual fund that they manage directly for you 

I believe CREFs represent an indirect investment in real estate. 

so is cref direct or indirect? whats the consensus?

125mph wrote:

SMA - an investment account managed individually by a manager. Usually has equity in it, like a mutual fund that they manage directly for you 

We should talk btw ;-)

¯\_(ツ)_/¯ It be like that sometimes.