An organization with many investors who jointly participate in a real estate investment and must...

A syndicate is an association of two or more investors who unite their capital to own or develop real estate projects.

When investment interests are offered to the public, the syndicate becomes subject to federal securities regulations administered by the Securities and Exchange Commission (SEC).

Maryland’s pre-licensing course explains that syndications may take the form of limited partnerships, corporations, or real-estate investment trusts (REITs), but the unifying element is pooled investor participation under securities law oversight.

Reference (Maryland Source):

– Maryland 60-Hour Principles and Practices Course, Forms of Ownership and Syndication section.

– Securities Act of 1933 and 1934 (SEC Regulations).