Is it a breach of fiduciary duty for a director of a real estate investment trust (REIT)

Question:

Is it a breach of fiduciary duty for a director of a real estate investment trust (REIT) negotiating a joint venture on behalf of the REIT with another director for the development of a of the REIT's properties to indicate a desire to co-invest in buying an interest in the properties without disclosing the possibility to the REIT?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...