In 2010 the real estate investment trust sector jolted back to life. Market capitalization spiked 44 percent, to $389 billion–driven both by rising share prices and $47.5 billion in new capital (an increase from the $34.7 billion raised in 2009)–from public markets. Attorneys played a key role in funneling this new money, which came in the form of $26.3 billion from 108 follow-on offerings and $2 billion from nine initial public offerings, into the industry. Last year the sector also raised $19.2 billion from 56 unsecured debt offerings, according to the National Association of Real Estate Investment Trusts.
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