The company-built Methodist church became todayâs Margaret Church of Christ, a neat little white chapel on County Road 12 near the town park. A pianist at this old church, Lou Betts, later married U.S. Congressman Tom Bevill.
REITs, or real estate investment trusts, are companies that own or finance income-producing real estate in a range of property sectors. These companies have to meet a number of requirements to qualify as REITs.
1. Equity REITs invest in and own properties, that is, they are responsible for the equity or value of their real estate assets. Their revenues come principally from leasing spaceâsuch as in an office buildingâto tenants.