Property securities (IMinds, 2009)
Title from PDF title page (viewed Mar. 24, 2011)
"Property securities are interests in property trusts that are listed on the stock exchange. These listed property trusts are known globally as Real Estate Investment Funds, or REITs. They hold portfolios of property assets that consist of large properties that, due to their size and value, could not be bought by average private investors. REITs break these large investments up into smaller units that can be purchased by individuals, investment institutions and managed funds. The trust manages the properties and investment direction and distributes rental income to the investors. Unit holders trade on the stock market where the value of the unit is determined by demand and supply. The economies-of-scale realised by large trusts, the expertise required for successful non-residential investment and the significant funding required to diversify in this type of property result in REITs maintaining a strong dominance in the commercial property market"--Pub. website