A more thorough explanation:

A real-estate syndicate is a group of people who combine their money to buy and sell real estate. This is usually done through a limited partnership or a real-estate investment trust.

• A group of investors pool their money to buy an apartment building. They form a limited partnership and each investor owns a percentage of the property.
• A real-estate investment trust (REIT) is created to buy and manage a portfolio of commercial properties. Investors can buy shares in the REIT and receive a portion of the profits.

These examples illustrate how a real-estate syndicate works. By pooling their money, investors can buy larger and more expensive properties than they could on their own. They also share the risks and rewards of the investment.