MIAMI—REITs are still en vogue. Multifamily is a darling and industrial is starting to turn some heads. So what's next, and how long will the REIT run last?

GlobeSt.com caught up with Mark Stapp, executive director of the Master of Real Estate Development program at the W. P. Carey School of Business at Arizona State University, to get his thoughts on the topic in this exclusive interview. Be sure to come back to this afternoon's Miami edition for part two, where Stapp will discuss REIT challenges and make bets on the future.

GlobeSt.com: Some say now is not the right time for REITs—that it's time to reduce REIT holdings. What's your take?

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