Cohousing-L Mailing List: Real Estate Investment Trusts (REITs) and Cohousing

[John Grotefend (johng]

I am looking for information about Real Estate Investment Trusts (REITs)
that specializes in cohousing projects; Cohousing Investment Trusts
(CITs) if you will.  Most REITs buy, develop, manage and/or sell real
estate projects with the sole objective of providing attractive annual
yields for their investors.  A typical REIT is not what I am asking
about.
 
A CIT will provide down payment equity to families who want to join a
cohousing community and have insufficient savings to cover the down
payment, but have sufficient resources to cover the monthly costs.  A
CIT can also provide purchase equity for rental units.  CITs are a way
of lowering the financial barrier for young families and young singles
with limited equity who want to join a cohousing community.  There are
other benefits to using CIT funds which I won't go into now.  
 
Investor funds for a CIT will come from cohousing friends, family and
allies who have discretionary money to invest long term (3-20 yrs), are
willing to accept slightly lower but very stable annual yields (4-5%
currently) and believe cohousing to be a better alternative to shelter
needs than apartment houses and tract homes.  Setting up a new trust
company from scratch takes time and some money.  So, before proceeding
on my own, I would like to know what is going on out there.
 
John, CoHo Ecovillage, Corvallis, OR