There’s nothing like traveling abroad: viewing breathtaking sights from the Eiffel Tower in Paris, minding the gap in London, visiting the Po Lin Temple in Hong Kong and catching a wave in Sydney. World travelers often come back laden with souvenirs and a passport full of stamps.

International travel broadens your horizons, not to mention teaches you lessons on budgeting and flexibility. In fact, it’s easy to be swept into a new culture and to enjoy new traditions. I myself have adapted new preferences after coming home from abroad, such as denouncing coffee and becoming an avid tea drinker, and cooking pasta al dente after falling in love with Italian cuisine.

Many U.S. REITs are traveling abroad as well. The public real estate sector is snapping up properties outside the U.S. and reaping the benefits of foreign property ownership. Turn to “Going Abroad” to read more on how several companies, such as ProLogis or Simon Property Group, are crossing borders to expand their portfolios.

Also in This Issue
Since we are discussing travel, let Portfolio take you to Europe. European REITs are providing more choice for investors. With REITs or REIT-like structures already in place in France, Belgium, Turkey, Bulgaria and the Netherlands, and investors anticipating legislation soon to establish REITs in the U.K. and Germany, industry analysts have a positive outlook on European REITs. Turn to “EU REITs” to read more about the expansion of REITs in Europe.

Real estate is becoming more global and investors want to participate in the global real estate securities evolution. As a result, new global products are being created for investors’ participation. Sensing that American investors have finally grown comfortable with allocating part of their portfolio to foreign REITs, investment management companies also have begun rolling out investment funds that tap into the emerging global listed real estate market. Turn to “Worldly Wealth” to read more about global investing.

Erin Corcoran
Managing Editor