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Rating:REIT Fund Firm Mulls Wholesaler Additions Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, January 04, 2002

REIT Fund Firm Mulls Wholesaler Additions

Reported by Sean Hanna, Editor in Chief

While the Nasdaq has been tanking over the past 24 months, the REIT market has turned in booming results. While investors have not yet seemed to take notice and rush assets into real estate, at least some firms are thinking about how to take advantage of the opportunity.

Lend Lease Real Estate Investments, which subadvises two Lend Lease REIT funds, is looking at adding two wholesalers in the new year to prepare for any upsurge.

"The first position will cover the West Coast," said Mark Hoopes, principal at Lend Lease in Berkeley, California. "No decision has yet been made as to the region or sales channel that the second will cover," said Hoopes.

The firm just marked the two-year anniversary for its funds and is also making inroads into the managed account market after having joined the Schwab Select program last summer. 

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