On this page Sept. 12, due to an editing error, Eugene Rosen of Southmark/Envicon Corporation was quoted as saying a public real estate syndication requires that investors have a long-term outlook and a forgiving nature. In fact, he said investors should not confuse public syndicates with real estate investment trusts (REITs), where many investors lost money in the mid-1970s. Thus, he said syndicate investment, unlike perhaps REITs, does not require a short memory or a forgiving nature.

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