What is the role of a "broker dealer" in the context of REITs?

A broker-dealer plays a crucial role in the functioning of Real Estate Investment Trusts (REITs) by facilitating the buying and selling of REIT shares. When investors want to invest in a REIT, they often do so through broker-dealers who execute trades on the stock market or facilitate transactions in other investment vehicles.

In this capacity, broker-dealers provide essential services such as advising investors on investment opportunities, ensuring compliance with regulatory requirements, and handling the actual buying and selling of shares. They act as intermediaries that connect buyers and sellers of REIT shares, enhancing the liquidity and accessibility of these investments for individual and institutional investors. By performing these functions, broker-dealers contribute significantly to the capital flows into REITs, which in turn can be used for property acquisitions and development.

The other options misrepresent the designated roles associated with REITs. Developing properties is typically the responsibility of property developers or asset managers, and managing rental properties falls under property management companies. Therefore, the role of a broker-dealer is specifically aligned with facilitating the transactions involving REIT shares, making the answer accurate and pertinent to the context.