| Type | Liquidity | Who can invest | Diversification |
|---|---|---|---|
| Public REIT | Daily on an exchange | Anyone | Often broad |
| Non-traded REIT / interval fund | Limited, periodic | Often anyone (suitability rules) | Moderate–broad |
| Single-deal syndication | Very low | Usually accredited | One property |
| Private fund (multi-property) | Very low | Usually accredited | Several properties |
Private vehicles can offer direct exposure, sponsor alignment and tax features (depreciation passes through on a K-1), at the cost of liquidity, transparency and diversification compared with public options.
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Your journey
More on this stage: Deep Dive: Evaluating a Sponsor’s Track Record · Deep Dive: Tax Basics for Real Estate LPs
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