In a video from the 2014 Real Estate Luminaries Series at Georgetown University, Mike Kirby discussed the growing variety of businesses electing to operate as REITs. “Historically, the REIT space has been a place where non-traditional property types have incubated their way into becoming core real estate,” he said. Green Street is generally a fan of the recent trend toward REITs spinning off parts of their business. Despite the cost of being a small REIT, there are important benefits to being focused.