1. Provide an example of a common real estate investment for each of the following (i). Core Real Estate (ii). value-added Real estate (iii). Opportunistic real estate

(a). Describe 3-major advantages of REITs ownership relative to direct real estate ownership.

(b). what is the effect of using appraised prices of real estate values to estimate risk when the appraisals are based on lagged information.

(c). What is the tole of a Timberland investment management organization?

(d). How do agency risks and political risks relate to institutional ownership of farmland?

(e). Why are the most MLPs in the US involved in producing, processing and distributing energy products.

(f). What is the primary defining difference between greenfield projects and brownfield projects?