Latin America still solid bet, Zell says

Sam Zell, chairman of Chicago-based Equity Group Investments and owner of the Tribune Co., said he and his companies will increase their position in Latin America for the near future. He gave the keynote address at the Urban Land Institute’s Latin America Conference in Miami Beach. Zell’s privately held investment company, Equity International, recently initiated public offerings for three Latin American companies in which Zell maintains substantial interests: Gafisa, a leading homebuilder in Brazil; BR Malls, one of the largest shopping center owners and operators in Brazil; and Homex, a fast-growing homebuilder in Mexico.