Listed REITs have had a dramatic impact on the commercial real estate industry, bringing transparency and legitimacy as an investment option, says Douglas Crocker II, former president and CEO of Equity Residential, who received NAREIT's 2010 Edward H. Linde Industry Leadership Award during REITWorld 2010: NAREIT's Annual Convention For All Things REIT. He points to two moments that exemplify this view. One was the credit and liquidity crisis of the 1990s during which a number of companies became publicly traded REITs. The other was the inclusion of REITs in the S&P indexes, beginning in October 2001.
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