Externally Managed REITs
What's the deal with the new bread of externally managed REITs? Seems like an externally managed REIT wouldn't have enough time to focus on the needs of the company. I may be traditional or old school, but the idea of outsourcing management of a company seems odd and nothing more than an asset tax shelter.
Just take a look at Government Properties Income Trust. I had to dig around on SEC.gov to find their website. I guess a search engine optimized site wasn't part of the management packaged that HRPT signed with Reit Management & Research LLC to manage Government Properties.
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Sep.01.2009. 22:25
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