Assertion: listed real estate | /r/CapableOf | offer unique return characteristics
Facets:
value: with portfolio diversification effects
type: OTHER
Source sentences:
text: First, despite the widespread claim that publicly listed real estate offers unique return characteristics with portfolio diversification effects separate from private real estate, the difference in the risk and return characteristics between the private and public real estate markets are due to leveraging and appraisal smoothing effects.