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New York

Zell eyes investments in Colombia and India

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Equity International Chairman Sam Zell

Sam Zell, chairman of Equity International, said he is entering real estate markets in Colombia and India over the next two weeks, starting with a $75 million investment in Bogota, Colombia-based Terranum Development, Bloomberg News reported. Terranum is developing a 2 million-square-foot mixed-use complex near Bogota’s El Dorado International airport.

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Since co-founding Equity International in 1999, Zell has invested largely in Brazil, China and Mexico. He owns five portfolio companies in Brazil, which he continues to tout despite a 21 percent decline in the country’s stock index. But he called Colombia the next star of Latin America. In India, Zell said he wants to start a hotel/motel chain.

Zell said his investment in the U.S. is minimal, because he estimates a 6 percent inflation rate despite the low interest rates. [Bloomberg News]

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Sam Zell