The Real Deal National

Sam Zell looking to go public with four Equity firms overseas

Equity is considering selling shares in a Mexican mall operator and a Brazilian parking lot firm
May 17, 2019 05:58PM

Sam Zell

Sam Zell

Sam Zell’s Equity International is considering taking four of its companies public in Brazil, Colombia, Mexico and India.

The Chicago-based investment firm is “seriously evaluating” initial public offerings for Indian lodging company Samhi, Colombian lodging company Decameron, Mexican mall operator Acosta Verde and Brazilian parking lot firm Estapar, Equity CEO Tom Heneghan told Bloomberg.

Estapar, a Sao Paulo-based network with more than 300,000 parking spaces, would be one of the first. Sao Paulo “has few parking spots and a heck of a lot of cars,” Heneghan said.

Equity International previously took Brazilian homebuilder Gafisa SA mall operator BR Malls Participacoes SA public.

In India, Samhi develops and operates 30 hotels with partners such as Hyatt and Marriott in major cities, Heneghan told Bloomberg.

Equity, which has investments in companies worth more than $12 billion, currently has 70 percent of its portfolio in Latin America.

The outspoken Zell, who made his fortune in real estate, has been bearish on the market lately, either selling or looking to sell stakes in at least four companies.

He recently cashed out of the Chicago office market entirely, and he’s resisted jumping on the industrial real estate bandwagon, even as e-commerce spurs unprecedented demand nationwide.

[Bloomberg] — John O’Brien