Large public offerings of such private real estate companies as Hilton Hotels or Archstone are unlikely to come to market this year, say investment bankers attending the Reuters Global Mergers and Acquisition Summit. Instead, mergers and acquisitions that have characterized the year so far will be the dominant activity, they predicted. "I think there'll be a number of deals in the $500 million to $1.5 billion size, and maybe REITs (real estate investment trusts) will buy them, and maybe private equity buys them," said Jackson Hsieh, UBS vice chairman and global head of the Real Estate, Lodging & Leisure Group.

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