Bloomberg is reporting that real estate investing icon Sam Zell has been shopping outside the U.S. for new real estate investments.
Mr. Zell is well known in the commercial real estate world, as Chairman of Equity Group Investments, L.L.C. (EGI), a private, entrepreneurial investment firm he founded more than 40 years ago. EGI’s investments span industries and continents, and include interests in real estate, energy, logistics, transportation, media, and health care. (source wikipedia)
Mr. Zell also heads Equity International, a private investment firm dedicated to foreign real estate markets. Mr. Zell believes that “Columbia is the rising star in South America”, and he is also investing in hotel projects in India. Equity International also has investments in China, Brazil and Mexico.
Sam Zell has been a real estate investor for 40 years, and is noted for his ability to identify emerging real estate markets, and determine market timing. He famously sold his Equity Office Properties Trust in 2007 for $39 billion. It was the peak of the commercial market. Commercial property values fell nearly 50% after the 2008 real estate crash.