REITs pick a good time for city investment

Several REITs in the last few years from outside the city have shown an interest in snatching up New York properties. Just last week, Chicago-based Equity Residential bought a 135-unit residential rental building with about 7,900 square feet of retail space at 600 Washington Street. The REIT buys may be a particularly good thing now as real estate investment trusts have outperformed the stock market for the past seven years. more [Sun]