Sandy Presant, chairman of the global real estate fund practice group with the law firm Greenberg Traurig, says it is highly likely that a large percentage of privately held real estate portfolios will become part of the public markets, through IPOs, mergers or acquisitions. "You can get a bigger bang for the buck when you take a whole portfolio public, merge it in through an UPREIT transaction, form your own private REIT and then become REIT bait for somebody or ultimately be an acquirer," Presant says.

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