1969-1974 The initial REIT expansion takes place as total industry assets increase from about $1 billion to more than $21 billion, primarily fueled by mortgage REITs engaged in land development and construction financing. REIT balance sheet leverage soars. This first high point ends when a severe recession begins after the 1973 oil embargo. Mortgage REITs are hit particularly hard and many companies enter bankruptcy proceedings, liquidate or are sold.
Timeline Year
1969
Brightcove Video
Caption Text
Watch a video with William King, former partner with Goodwin Procter LLP, discussing the role mortgage REITs have played in the REIT industry.