The ability of public REITs to raise fresh capital on Wall Street to bolster their balance sheets and get ready to start buying again was a big factor behind the cheerful mood at REITWorld 2009, NAREIT's annual
convention, in Phoenix. "No sour faces. No sulking. We even saw a CFO dance in the lobby," Citigroup analyst Michael Bilerman wrote of the event. Added NAREIT Chairwoman Debra Cafaro, chairwoman, president and CEO of Ventas: "More equity has been raised this year than in any other full year in REIT history except 1997."

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