Many real estate investors have an agecutoff. They prefer a certain “vintage” of property, and will avoid buying anythingolder than a certain year. Sometimes these rules are built into their strategies.Developers focus on new developments unless they can add significant value throughrepositioning. Public and private real estate investment trusts (REITs) willhave investment mandates that restricts them from purchasing properties olderthan, say, the 2000s.
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