Sam Zell is reducing his exposure to
real estate

He has sold stakes in four companies over the past year

TRD NATIONAL /
Nov.November 16, 2018 10:30 AM

Sam Zell (Credit: Getty Images and Pixabay)

He’s bearish on the real estate market, and looking to sell.

Sam Zell’s firm Equity Group Investments has either sold or intends to sell stakes in at least four companies dating back to last October, according to Bloomberg. It has announced one new investment over the same time period.

The firm may look to sell Ardent Health Partners as well. The company, which EGI bought in 2015, is getting ready for a public offering.

The 77-year-old sell has called himself a net real estate seller since 2015 at least. Equity Residential has sold $8.5 billion worth of properties since that year.

“At the moment, we don’t see enormous opportunity,” Zell said to Bloomberg TV in March. “Pricing today, primarily because of the supply-demand scenario in terms of capital, is distorting all markets, and there’s too much capital chasing too little opportunity.” [Bloomberg]  – Eddie Small


Related Articles

arrow_forward_ios
Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

Stephen Levin, REBNY's Jim Whelan and Brad Lander (Credit: Getty Images)

The bill that won’t die: Will commercial rent control finally pass?

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

(Credit: iStock)

Small Talk: Every community meeting. About every development project. Ever.

An example of roll-off waste management (Credit: YouTube, iStock)

A win for big building owners in trash-collection fight

Duke Long and Poshtel International CEO Morten Lund

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat

arrow_forward_ios
Loading...