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Excerpt: Real estate investment managers and pension plan trustees... who have made real estate investments are delighted that the DOL has waited until now to begin its evaluation of real estate portfolios. Three or four years ago, most real estate portfolios were underperforming, but today the market has recovered, and many portfolios are performing as well as or better than was anticipated when they were originally underwritten. Many 'bad' investments of yesterday look much better today.
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