• The 1031 Exchange fueled Tenant in Common/Delaware Statutory Trust sector has regained credibility, despite ongoing issues with some old offerings.
  
• Non Traded Real Estate Investment Trusts are seeing steady returns and continue to find attractively priced acquisitions.
  
• CMBS and other Debt Funds report 10% plus investor distributions, although the 15-30% returns of the 2009-2010 market appear gone for good.
  
• Opportunity Funds are finding a steady supply of potential acquisitions but the hoped for ultra deep discounts do not appear likely. Projected total yields appear to be in the 12-17% range.
  
• There may be opportunity in shale gas partnerships but the risk cannot be engineered out of drilling deals.
  
• Energy royalties may have potential depending on the purchase price.
  
• Apartment Development deals are almost non-existent. However, there may be light in that tunnel if some southeastern deals under construction materialize the 20% plus returns.
  
  
• Office Opportunity and Recovery investments are hoping to ride any office property upside. Should occupancy levels rise, those purchasing at below replacement costs are looking at potentially high profits.
  

The overall climate is cautiously optimistic.  There is value to be had and profits to be made, but only with the guidance from the most experienced and competent firms. Investors with the stomach for high risk will find opportunity to test their mettle.

As always, deal with licensed investment professionals and make sure their expertise is in the real estate investment securities sector.