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Home Features Editor's Desk Taking Stock Developments REIT Reality International Forum Investor Insight Vested Interest Capital Markets Policy Watch Four Quick Questions One-on-One REIT Snapshot Best Practices Professional Perspective Board Room Sector Spotlight Accounting Fund Focus In the Works Names to Note In Closing From the Research Desk By the Numbers Window on Washington Solid Foundations The REIT Report Quick Study Back Issues

Hedging Their Bets Hedge funds increasingly look to REITs, but should investors look back? read more Track the Experts! 2004 Portfolio Stock Challenge FEATURED MEMBER SITE Gables Residential Looking for Advertising Opportunities with Real Estate Portfolio? Click here Investing in Real Estate Stocks? Click here Click here REITs and Rates Opinions are split on what impact, if any, a rising rate environment will have on REIT investing Bonds—REIT Bonds REIT unsecured debt stacks up well against other corporate fixed-income securities. Find out what factors could alter that outlook At Any Rate Steep yield curve, investment mix prepares Annaly Mortgage Management for changing rates Hamid R. Moghadam: TAKING STOCK Political Watch EDITOR'S DESK Rate Debate DEVELOPMENTS A shopping mall giant emerges; the making of mavericks; S&P welcomes more REITs; analyst accolades; and top 10 global trends REIT REALITY See if you know by how much REIT stocks continue to increase returns and reduce overall risk in diversified portfolios SECTOR SPOTLIGHT Office Fundamentals Turning But Recovery Still Tepid ONE-ON-ONE Scott Wolstein continues developing DDR's growth strategy CAPITAL MARKETS Economic implications of the 2004 presidential election VESTED INTEREST REITs are spreading across the globe FUND FOCUS Profile of the Delaware Dividend and Income Fund NAMES TO NOTE People making news and moves in the REIT and publicly traded real estate industry BY THE NUMBERS Lease expirations; inflation protected REITs; multifamily rebound; and Stock Challenge update IN CLOSING Current value accounting

Real Estate Portfolio® is the magazine for the REIT and publicly traded real estate industry. It is published bimonthly by the National Association of Real Estate Investment Trusts® (NAREIT), 1875 Eye Street, NW, Suite 600, Washington, DC 20006–5413. Phone 202-739-9400.