| After the post-1980s real estate crash the savings | | | | Entry level |
| and loan funding that had driven the speculative | | | | Move-up |
| boom disappeared. Property values slumped as | | | | Luxury |
| funding dried up, until the next phase in the cycle - a | | | | Active adult/retirement |
| REIT-fueled recapitalization to encourage banks to | | | | Resort/second home |
| once again lend to the property investment sector. | | | | OTHER |
| The major force in the process of recapitalization | | | | Self storage |
| was the use of Real Estate Investment Trusts | | | | Manufactured housing |
| (REITS) - these publicly traded baskets of real estate | | | | These are the general categories that are |
| assets provided the liquidity needed to reinvigorate | | | | understood by equity investors into REITs, yet those |
| the industry. Until mid-2007 U.S. REITs delivered 25% | | | | active within each segment have further |
| annualized returns. The REIT boom was augmented | | | | classifications, for example, in industrial: |
| by trading of Commercial Mortgage Backed Securities | | | | WAREHOUSE DISTRIBUTION |
| (CMBS) and the real estate depression of the early | | | | Regional warehouse |
| 1990s, which had seen 30-50% declines in value, was | | | | Bulk warehouse |
| firmly consigned to history (or is it?!) | | | | Heavy distribution |
| OFFICE | | | | Refrigerated distribution |
| Build to suit | | | | Rack-supported distribution |
| Suburban/urban speculation | | | | MANUFACTURING |
| Professional/medical | | | | Light manufacturing |
| INDUSTRIAL | | | | Heavy manufacturing |
| Build to suit | | | | Airport hanger |
| Warehouse | | | | FLEX |
| Flex/R&D | | | | R&D flex |
| RETAIL | | | | Office showroom |
| Neighborhood/community center | | | | MULTITENANT |
| Power center/big box | | | | FREIGHT FORWARDING |
| Lifestyle/town center | | | | Truck terminal |
| RENTAL APARTMENT | | | | Air cargo |
| Suburban garden | | | | DATA SWITCH CENTER |
| Urban high density | | | | The latest slump tells us that whilst we might have |
| HOTEL | | | | fancy categories and investment vehicles there is no |
| Business | | | | getting away from the fundamentals of the real |
| Luxury | | | | estate cycle - it will always keep us on our toes, and |
| FOR SALE HOUSING | | | | provide opportunities for savy investors. |