The financial crisis at the end of the recent decade has highlighted the growing diversity and complexity of commercial real estate. Not long ago, investors in private real estate had limited investment and risk options. Today, private real estate investors may choose various degrees of risk, ranging from core real estate, the least risky among private real estate investments, to development, considered the riskiest. Real estate stocks even offer a liquid choice, although not without equity market risk. Further, investors may customize portfolios not only with regard to risk, but also in consideration of property type and geographic region. This range of real estate investment options has been made possible through the expansion of indirect investment options such as the private real estate fund industry. Read the full article.