The Northfield US REIT Model measures the risk of REIT portfolios by treating the firms as securitized real estate. Factors naturally important to real estate are included, such as the geographic distribution of property owned and the composition by property type (e.g. office, apartment, and retail).

• Combines real estate characteristics with firm equity characteristics such as market capitalization
• Model defines nine property types
• US property locations are divided into nine geographic regions