Cornerstone Realty Income Trust, Richmond, Va., is being replaced by American Land Lease, Clearwater, Fla., in the S&P REIT composite index, Standard & Poor's reported.The change will be effective after the close of trading on April 1. Cornerstone Realty, a multifamily real estate investment trust, is being acquired by Colonial Properties Trust, another S&P REIT Composite company, and this is what brings about the change, according to S&P. American Land Lease has interests in the manufactured housing arena.
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