MIAMI—So how long exactly will the REIT run last? What are the challenges for REITs? And what lies ahead? 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 these and other questions in the second part of our exclusive interview. You can still read part one: "Are Healthcare REITs Set to Explode" if you missed it this morning.

GlobeSt.com: So how long will the REIT run last? What's your view?

Stapp: I see no reason for change until public policy changes. In fact, I think there are interesting ways to use REITs that have not yet been fully explored. Real estate is much more than just a financial vessel for generating returns. It is also the engineered, fixed capital of a community.