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Initially the REIT approach to real estate investment, as established by Congress, contemplated land and the improvements on it.
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What happens is pure planning roulette, a free-for-all, ad hoc gamble on the future where real estate reigns with a divine right established by astronomical values.
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The burial site on the land, which belongs to Madonna and her film director husband Guy Ritchie, was established in 1663 when the then-owner of the estate, William Fry, became a Quaker.
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Rejected from Boston's old-line firms despite his success in law school, he established his own practice, handling everything from wills and divorces to real estate and criminal cases.
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Industry officials also note that the first REITs were established to give individuals an easy way to invest in income-producing real estate.
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