US real estate funds (REITs - Real Estate Investment Trusts) are functionally similar to Brazilian real estate funds, of course, with some differences in details.
In fact, US real estate funds served as an inspiration for the Brazilian market, which adopted standards and practices similar to those equivalent in that country.
As in Brazil, real estate funds in the US stand out for:
Periodically distributing the cash received from the real estate activity
Focusing on real estate niches such as offices, shopping malls, and logistics centers, among others
Adding capital gain to quota when properties are sold at a profit
Being traded on stock exchanges, including fractional amounts (which is a great advantage over investing directly in real estate)
Having professional real estate management by niche experts.
As for the differences, the main one is that US real estate funds can use leverage. That is, they can take credit for carrying out their real estate activities. In Brazil, real estate funds cannot do this directly (although they can invest in leveraged structures).
The important thing is that the investor always pays attention to the debt level of the real estate fund in the US before investing.