Abbreviation: REIT. An exchange-listed US real estate company, at least 75% of whose capital is invested in the US real estate market. REITs enjoy special tax benefits (e.g. exemption from corporation tax). A distinction can be drawn between equity REITs, which themselves invest directly in large real estate projects such as hotels, shopping centres (malls) and office blocks, and mortgage REITs, which only make mortgages available to fund such construction projects.