REITs

Private REITs are offerings that are exempt from SEC registration and whose shares do not trade on national stock exchanges.

PNLRs are registered with the SEC but do not trade on national stock exchanges.

Mortgage REITs, known as mREITs, provide financing for income-producing real estate by purchasing or originating mortgages and mortgage-backed securities and earning income from the interest on these investments.

The majority of REITs are publicly traded equity REITs. Equity REITs own or operate income-producing real estate in various types of property sectors. Real estate market participants often refer to equity REITs simply as REITs.

A REIT is a Real Estate Investment Trust.