A real estate limited partnership, or RELP, is a legal entity formed to invest in real estate ventures. The structure allows investors to combine their resources to purchase and develop properties they couldn't afford or manage on their own.  Like most limited partnerships, RELPs are private investments — that is, their shares do not trade on stock exchanges. You buy in when the RELP is formed; sometimes ownership stakes become available after the original offering, as well.  A RELP is meant to last for a finite number of years. During its lifetime, it functions like a little company: It forms a business plan, and then identifies properties to purchase and/or develop, manage, and finally sell off. Profits are distributed along the way. After the holdings are all dispatched, the partnership dissolves.