> They don't have any of the overheads, complexity, costs, or risks of owning the real estate. They spend massive sums of money to build out other people's bui

> They don't have any of the overheads, complexity, costs, or risks of owning the real estate. They spend massive sums of money to build out other people's buildings and typically enter triple net leases which means they do indeed have the overhead, complexity and costs of owning real estate. Even more complex really because they have a long term lease and need to constantly keep it filled with short term tenants.