Question: What properties does AG Real Estate manage that is the detailed organization and implementation of a complex operation?
Context: Real estate benchmarking is the standard of measurement used to analyze the financial characteristics of a real estate investment property.  In the general sense, real estate benchmarking refers to the comparison of potential real estate investment properties against a predetermined framework of measurement.  In a narrow sense, the term real estate benchmarking refers to the specific real estate indicators used to measure the real estate properties. Forsalebyowner.com is the United States largest "by owner" real estate website.  It provides a real estate advertising and information service that charges a flat fee to property owners who advertise their property on the company’s Website.  It created a business model that competed directly with traditional real estate firms, connecting buyers and sellers without the use of brokers.  Property sellers devise and customize the content and format of their advertisement.  ForSaleByOwner.com then charged to the owners a listing fee that is directly proportional to the length of the advertisement and the period of time it appears on its Web site.  For an additional fee, property owners can have also list their properties on the MLS with a real estate agent affiliated with ForSaleByOwner.com.  Interested buyers can use the service to search listed properties for free.  However, ForSaleByOwner.com does not represent or negotiate on behalf of either the seller or the buyer.  On its Website, a disclaimer clearly states that it is not a real estate agent and is legally prohibited from taking part in the actual sales transaction. Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances.  Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure.  Loan modifications have been practiced in the United States since The 2008 Crash Of The Housing Market from Washington Mutual, Chase Home Finance, Chase, JP Morgan & Chase, other contributors like MER's.  Crimes of Mortgage ad Real Estate Staff had long assisted nd finally the squeaky will could not continue as their deviant practices broke the state and crashed.  Modification owners either ordered by The United States Department of Housing, The United States IRS or President Obamas letters from Note Holders came to those various departments asking for the Democratic process to help them keep their homes and protection them from explosion.  Thus the birth of Modifications.  It is yet to date for clarity how theses enforcements came into existence and except b whom, but t is certain that note holders form the Midwest reached out in the Democratic Process for assistance.  FBI Mortgage Fraud Department came into existence.  Modifications HMAP HARP were also birthed to help note holders get Justice through reduced mortgage by making terms legal.  Modification of mortgage terms was introduced by IRS staff addressing the crisis called the HAMP TEAMS that went across the United States desiring the new products to assist homeowners that were victims of predatory lending practices, unethical staff, brokers, attorneys and lenders that contributed to the crash.  Modification were a fix to the crash as litigation has ensued as the lenders reorganized and renamed the lending institutions and government agencies are to closely monitor them.  Prior to modifications loan holders that experiences crisis would use Loan assumptions and Loan transfers to keep the note in the 1930s.  During the Great Depression, loan transfers, loan assumption, and loan bail out programs took place at the state level in an effort to reduce levels of loan foreclosures while the Federal Bureau of Investigation, Federal Trade Commission, Comptroller, the United States Government and State Government responded to lending institution violations of law in these arenas by setting public court records that are legal precedence of such illegal actions.  The legal precedents and reporting agencies were created to address the violations of laws to consumers while the Modifications were created to assist the consumers that are victims of predatory lending practices.  During the so-called "Great Recession" of the early 21st century, loan modification became a matter of national policy, with various actions taken to alter mortgage loan terms to prevent further economic destabilization.  Due to absorbent personal profits nothing has been done to educate Homeowners or Creditors that this money from equity, escrow is truly theirs the Loan Note Holder and it is their monetary rights as the real prize and reason for the Housing Crash was the profit n obtaining the mortgage holders Escrow.  The Escrow and Equity that is accursed form the Note Holders payments various staff through the United States claimed as recorded and cashed by all staff in real-estate from local residential Tax Assessing Staff, Real Estate Staff, Ordinance Staff, Police Staff, Brokers, attorneys, lending institutional staff but typically Attorneys who are also typically the owners or Rental properties that are trained through Bankruptcies'.  that collect the Escrow that is rightfully the Homeowners but because most Homeowners are unaware of what money is due them and how they can loose their escrow.  Most Creditors are unaware that as the note holder that the Note Holder are due a annual or semi annual equity check and again bank or other lending and or legal intuitions staff claim this monies instead.  This money Note Holders were unaware of is the prize of real estate and the cause of the Real Estate Crash of 2008 where Lending Institutions provided mortgages to people years prior they know they would eventually loose with Loan holders purchasing Balloon Mortgages lending product that is designed to make fast money off the note holder whom is always typically unaware of their escrow, equity and that are further victimized by conferences and books on HOW TO MAKE MONEY IN REAL STATE - when in fact the money is the Note Holder.  The key of the crash was not the House, but the loan product used and the interest and money that was accrued form the note holders that staff too immorally.  The immoral and illegal actions of predatory lending station and their staff began with the inception of balloon mortgages although illegal activity has always existed in the arena, yet the crash created "Watch Dog" like HAMP TEAM, IRS, COMPTROLLER< Federal Trade Commission Consumer Protection Bureau, FBI, CIA, Local Police Department, ICE ( The FBI online Computer crime division receives and investigates computer crimes that record keeping staff from title companies, lending institutional staff, legal staff and others created fraudulent documents to change payments and billing of note holders to obtain the money note holders are typically unaware of) and other watch dog agencies came into existence to examine if houses were purchased through a processed check at Government Debited office as many obtained free homes illegally.  Many were incarcerated for such illegal actions.  Modifications fixed the Notes to proper lower interest, escrow, tax fees that staff typically raised for no reason.  Many people from various arenas involved in reals estate have been incarcerated for these actions as well as other illegal actions like charging for a modification.  Additionally Modifications were also made to address the falsifications such as inappropriate mortgage charges, filing of fraudulently deeds, reporting of and at times filing of fraudulent mortgages that were already paid off that were fraudulently continued by lenders staff and attorneys or brokers or anyone in the Real Estate Chain through the issues of real estate terms to continue to violate United States Laws, contract law and legal precedence where collusion was often done again to defraud and steal from the Note Holder was such a common practice that was evidence as to why the Mortgage Crash in 2008 occurred for the purpose of wining the prize of stealing form Homeowners and those that foreclosed was actually often purposefully for these monies note holders were unaware of to be obtained which was why Balloon mortgages and loans were given to the staff in the Real Estate Market with the hoper and the expectation that the loan holders would default as it offered opportunity to commit illegal transactions of obtaining the homeowners funds.  While such scams were addressed through modifications in 2008.  The Market relied heavily on Consumers ignorance to prosper, ignorance of real estate terms, ignorance on what they were to be charged properly for unethical financial gain and while staff in real estates lending arenas mingled terms to deceive y deliberate confusion consumers out of cash and homes while the USA Government provided Justice through President Obamas Inception and IRS Inception of Modifications which addressed these unethical profits in Reals Estate.  It was in 2009 that HARP, HAMP and Modifications were introduced to stop the victimization of Note Holders.  Taking on the Banks that ran USA Government was a great and dangerous undertaking that made America Great Again as Justice for Consumers reigned.  Legal action taken against institutions that have such business practices can be viewed in State Code of Law and Federal Law on precedent cases that are available to the public.  Finally, It had been unlawful to be charged by an attorney to modify as well as fro banking staff to modify terms to increase a mortgage and or change lending product to a balloon in an concerted effort to make homeowner foreclose which is also illegal, computer fraud and not the governments intended purpose or definition of a modification. Real estate investing involves the purchase, ownership, management, rental and/or sale of real estate for profit.  Improvement of realty property as part of a real estate investment strategy is generally considered to be a sub-specialty of real estate investing called real estate development.  Real estate is an asset form with limited liquidity relative to other investments, it is also capital intensive (although capital may be gained through mortgage leverage) and is highly cash flow dependent.  If these factors are not well understood and managed by the investor, real estate becomes a risky investment.  The primary cause of investment failure for real estate is that the investor goes into negative cash flow for a period of time that is not sustainable, often forcing them to resell the property at a loss or go into insolvency.  A similar practice known as flipping is another reason for failure as the nature of the investment is often associated with short term profit with less effort. A real estate entrepreneur or a real estate investor to a lesser extent is someone who actively or passively invests in real estate.  An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit.  A passive investor might hire a real estate firm to find and manage an investment property for him.  Typically, investors choose real estate for several reasons: cash flow, capital appreciation, depreciation, tax benefits and leverage. Logistics is the detailed organization of a complex operation. Logistics is generally the detailed organization and implementation of a complex operation.  In a general business sense, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations.  The resources managed in logistics can include physical items such as food, materials, animals, equipment, and liquids; as well as abstract items, such as time and information.  The logistics of physical items usually involves the integration of information flow, material handling, production, packaging, inventory, transportation, warehousing, and often security. Real Estate Technology or Property Technology, often referred to as ("RE Tech") or ("Proptech"), is an economic industry composed of companies which use technology to make real estate transactions more efficient.  Real estate technology is a sub-category under financial technology as real estate is an asset class which represents a significant investment.  Besides for own stay, there are investors who generate income and capital gains by investing in different categories of Real Estate properties over time - They are broadly residential, commercial and industrial.  Historically used as a more tactical investment or for providing portfolio alpha, real estate has been used as part of a long-term core strategy due to increased market efficiency and increasing concerns about the future long-term variability of stock and bond returns.  In fact, real estate is known for its ability to serve as a portfolio diversifier and inflation hedge. The Institute for Federal Real Estate (in German: Bundesanstalt für Immobilienaufgaben , abbreviated BImA) is a government agency in Germany that provides federal government entities with real estate services.  It functions as a landlord in the government system of internal rent—a commercially based model for managing government real estate.  The institute provides services such as renting space, facility management and real estate development.  The institute itself owns a major proportion of the property it manages, and is one of the largest owners of real estate in Germany.  It is estimated that within 2011, the Institute for Federal Real Estate will—due to property transfers—own and manage nearly all real estate used by the federal government of Germany. AG Real Estate (former Fortis Real Estate) is a wholly owned subsidiary of AG Insurance (Ageas) and the largest real estate group in Belgium, headquartered in Brussels.  AG Real Estate has a portfolio under management of over €6 billion that incorporates office buildings, shopping malls, logistics properties, residential properties and shares in real estate investment funds, both listed and unlisted.
Answer: Logistics