CORRECTED: REIT model not dead: Speyer

In June 26 story, corrects first paragraph to read "...and eventually some that have recently been taken private will return to the public markets..."

In the second paragraph, replaces erroneous quote with correct quote.

Removes incorrect quote that was in fourth paragraph.

NEW YORK (Reuters) - U.S. real estate investment trusts (REITs) have a bright future and eventually some that have recently been taken private may return to the public markets, major private U.S. real estate firm and fund manager Tishman Speyer said on Monday.

"At some point, the pendulum will swing back, and you might even see some of the portfolios that are being taken private go public once again. That's just the nature of capital cycles," Robert Speyer, senior managing director, said at the Reuters Real Estate Summit in New York.

Speyer said there were no plans to turn Tishman Speyer into a REIT in the future, however.

Tishman Speyer owns New York landmarks such as the Chrysler Building and Rockefeller Center. It also invests in property in Europe, Asia and Latin America. Office holdings in Europe include The Atrium in Amsterdam, Paris Bourse and the Millbank Center in London.

According to Citigroup, more than half of the $35.6 billion in real estate company purchases made so far this year were privatization deals involving REITs.

Most recently, Canada's Brookfield Properties Corp. (BPO.TO: Quote, Profile, Research, Stock Buzz) and private equity partner The Blackstone Group BG.UL agreed to buy office building REIT Trizac Properties Inc. TRZ.N for $4.4 billion excluding debt.

Almost two-thirds of the $50 billion in real estate company acquisitions last year were also public-to-private deals.

The trend contrasts with other parts of the world, including Europe where new REIT regimes are expected to be introduced next year in Britain and, possibly, Germany, and where the focus is on companies switching into REITs.