REITs Around The World Pursuing global real estate investment opportunities Real Estate Portfolio talks to leading international experts and industry heavyweights to delve into what has driven global real estate expansion and the rise of new REIT structures worldwide in recent years and what investors can expect from the global real estate market going forward. Editor's Desk Spanning the Globe GLOBAL POSITIONING U.S. REITs Seek Opportunities Abroad MORTGAGE OPPORTUNITIES Global Growth for Real Estate Finance FOREIGN INVESTMENT Investing in the Global Market Real Estate Diversification on a Global Scale One World, One GAAP Foreign Investment in Real Estate is AFIRE ECONOMIC IMPACT The REIT Influence The Long Road to a Pan-European REIT Asian REITs—Up and Running REITs are Rising Down Under Global REIT Indexing—The Shape of Things to Come "International Tax Treatment of REITs." U.S. Withholding Tax Rates to Non-U.S. Investors COUNTRY PROFILES Introduction Spotlight on Asia Spotlight on Europe Spotlight on the Middle East Spotlight on Central America Spotlight on North America Spotlight on South America IN CLOSING The Global Real Estate Marketplace

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.