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Gambling on Blind-Pool REITs

NEW YORK CITY-The blind-pool REITs are riskier investments, but some name recognition at the helm can go a long way, says theWall Street Journal.

By Wall Street Journal | Updated on December 09, 2009

NEW YORK CITY-Some companies, such as Pebblebrook Hotel Trust, are forming REITs and using IPOs to raise money to buy distressed real estate, however not all blind-pools are created equal, explains the Wall Street Journal . Some of these investment opportunities have marquee names attached, such as Jon Bortz, former chief executive of LaSalle Hotel Properties, who is running Pebblebrook.

The gamble fairs good or ill depending on whether investers are willing to trust the executive at the wheel of these REITs. However, a limited number of assets are available, so no REIT is a guarantee, even with a proven track record.

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