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QUESTION 4 Which has more transparent pricing? A shopping center sold by one institutional investor to another Publicly traded REIT stock QUESTION 5 Which transaction

QUESTION 4 Which has more transparent pricing? A shopping center sold by one institutional investor to another Publicly traded REIT stock QUESTION 5 Which transaction takes longer to close? A $10 million mortgage loan Purchase of $10 million of CMBS QUESTION 6 Which transaction has higher closing costs? Purchase of stock in an apartment REIT Purchase of an apartment building

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