Alpha purchases a hotel with 100 similar rooms. To help finance this purchase, Alpha sells these rooms to individual investors for $200,000 each. An investor that owns a single room receives 55% of l/100th of the revenue of the hotel (i.e., 0.55%), while the hotel retains the other 0.45%. An investor who wishes to liquidate his/her investment may sell his/her room back to Alpha for the original $200,000, but cannot otherwise sell the room to other parties.
Required:
Identify all the financial assets involved in the above situation.