In the October 2010 issue of The Institutional Real Estate Letter – North America, I authored an article describing our common goal and set forth why the Real Estate Information Standards (REIS) are important to us all:

The credibility and sustainability of institutional private real estate investment relies upon integrated accounting, as well as transparent and consistent valuation, performance measurement and reporting. Industry information standards facilitate capital formation and help provide investors with comparable financial information needed to support informed decision making.

During the past 18 months, the REIS team has devoted significant energy to preparing for compliance and collaborating with investors, foundational standard setters and others to build consensus.

The most visible change occurred in the summer of 2011, whe