Blumberg on REITs.

GlobeSt.com: REITs will also figure in your strategy. What structures are you looking for?

Blumberg: We're not going to buy a $10-billion REIT. We'll be looking for specialty office REITs that are regionally focused--anywhere where we have market interest. For many years, I've been talking about REITs and takeovers. REITs are sitting ducks. They can't store cash, they can't buy back their shares. From an LBO perspective, they're just an agglomeration of assets, and the purchases you're seeing now reflect what the breakup value of those assets is vs. their value in the equity markets.

From a GlobeSt.com interview with American Ventures CEO Philip Blumberg