4Q 2017 has been a relatively active one for me in the non-REITs space and being a rather long blog, I decided to take my time and publish it in 4 parts. In its final days on the Singapore Stock Exchange, at $1.17 a unit, the total value of Croesus Retail Trust in my portfolio easily trumped First REIT as my second largest investment. As Croesus Retail Trust was delisted and distributions made to its shareholders, the cash level in my investment portfolio rose significantly due to this reason alone. I would have been quite happy to sit on a lot more cash and to do nothing if I did not see any compelling offers by Mr. Market. This is because I look at the capital gain from the sale as receiving income distributions for many years in advance. So, mostly thanks to Croesus Retail Trust, 4Q 2017 distributions received from non-REITs is a rather impressive figure: ......