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