Investors wary of non-traded real estate investment trusts should be aware that such investments are not intended for quick turnovers, according to participants at a recent conference sponsored by National Real Estate Investor and WealthManagement.com. For instance, funds offered by ARC Realty Finance Trust, a non-traded REIT sponsor, typically have a time horizon in the five- to seven-year range with a 6-8% distribution rate, noted CEO Don MacKinnon. Said Robert Knakal, chairman of Massey Knakal: "If you look at the Manhattan market for instance, the average turnover of the stock of buildings every year is only 2.6% over the long term."

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