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CHICAGO-During a recent gathering hosted by the Real Estate Investment Association, several industry members weighed in the trends that are spurring funds into the local real estate market.

Michael Mounts, a principal at Bank of America, admitted that real estate as an investment has had an extraordinary run compared to a decade ago. “It’s now a respectable asset class,” he told the audience. In the past, he explained, “real estate was an alternative investment–an individual investment. Few pension funds, for example, would invest in real estate.”

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