December 1995, Vol 20, No 3

Abstract: The article reviews the historical development of diversification strategies within the real estate sector and describes the factors influencing the further evolution of real estate investment strategies for institutional investors. Also included is information on areas of current investment and/or interest by pension fund investors, such as private real estate securities; publicly-traded real estate securities; niche strategies – timber and agriculture; non-U.S. investments, including emerging markets; and opportunity funds and the evolution of this strategy.