Mar 30, 2009

Zell's Brazilian bailout plan

This comes via LA Observed...

Tribune Co.-owner Sam Zell is seeking redemption (and cash) in the Brazilian housing market. From the Wall Street Journal:

Real estate tycoon Sam Zell, trying to restore his stature as an astute investor after his disastrous buyout of Tribune Co., has surfaced as an unlikely player in a controversy in Brazil over affordable housing.

Mr. Zell has been focusing much of his time on his global real-estate investments since the bankruptcy filing by Tribune late last year. His real-estate private-equity firm, Equity International Properties, is trying to capitalize on what many analysts say is a pent-up demand for housing in Brazil through its 19% stake in homebuilder Gafisa SA.

The rest of the story is apparently behind a paywall, but here's the link anyway.

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