Read the case, "The Search for Property: Institutional Investment in Real Estate By: Craig Furfine," and write a $2-$page report $($for each case$)$ answering the following questions:

Can you apply modern portfolio theory to the investment decision of an institutional investor allocating its assets as presented in the case?

What may be the limits of portfolio theory in a real estate context, with special attention

given to the problems of real estate return measurement?

Analyze the benefits and costs of investments in both public and private real estate.

Understand and list the various vehicles in which one can invest in private real estate.

Argue persuasively for a particular set of investments that offer individual benefits and

costs relative to a theoretically ideal investment.