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Diversified REITs are few, Morrison says, and for a beginning real estate investor, “the steadiness of a diversified REIT is an appealing attribute.” He recommends W.P. Carey, a global REIT that runs more than 900 properties in 19 countries. “The pro of this option for a newbie is their strategy of retaining strong anchor tenants, such as U-Haul and Marriott (MAR),” since “these anchors are typically contracted to longer-term triple net leases, which require the tenants to cover all utilities, maintenance, taxes and other expenses, creating almost a complete net profit for the REIT.” The downside? This is a larger-sized REIT that can be susceptible to geopolitical shifts.
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