Sam Zell on CNBC Discusses Housing and More

…bottom already seen on residential, and fairly optimistic on the demand side of the equation for institutional CBD office space.

Wilbur Ross, Sam Zell, Richard LeFrak on CNBC – The Billionaire’s Roundtable

CNBC featured a two-part “Billionaire’s Roundtable” featuring Wilbur Ross, Sam Zell, and Richard LeFrak. Some of the slogans:
“Dilution is the Solution”, Owners in “Negative Leverage Purgatory”, “What Happens in Dubai, Stays in Dubai”.
The discussion tackles commercial real estate, newspapers, emerging markets, retail, and gold. CNBC also calls Sam Zell out on the comments he made [...]

HNN Compiling List of Funds Targeting Hotels

HNN has begun to compile a list of funds seeking to invest in hospitality assets. The list compiled so far indicates that there is about $38B out there chasing hotels, though some $20B of that comes out of of Blackstone and Lone Star. Click the link before to go to the list.
Given that hotels have [...]

Sam Zell Tells Wilbur Ross To Piss Off

Speaking at the Capital Markets conference in New York, Sam Zell took a few shots at “experts” such as Wilbur Ross who were predicting widespread problems in the commercial real estate arena.
Apparently taking issue with recent comments Mr. Ross made to the press about a huge crash hitting commercial property markets, Zell said for “all [...]

Sam Zell Optimistic on Economy

Sam Zell, of Equity Office fame, has come out indicating that the commercial real estate calamity is overblown. He is basing his premise on two things, one the workouts and other programs in place that are keeping a lot of deals from being sold, though one could argue on life support. The other is that [...]

Sam Zell Discusses Real Estate

Spotted at Deal Junkie is a video of Sam Zell at the Milken Institute Global Conference. Some of the things discussed include:

From 2003 to 2007, 50% of the institutional real estate traded – and that 50% ended up being over-leveraged
More debt than value, equity guys are out of the market until there are foreclosures
Smart money is [...]

Fallout from Blackstone/Equity Office Deal

The New York Times has offered up a piece looking back on the monumental Blackstone/Equity Office deal and the ongoing fallout for those who acquired the assets at the top of the market. This deal can be summed up as a case-study for the Greater Fool Theory.
Today, the wreckage of those purchases is strewn across [...]