Sam Zell: Difference between revisions
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'''Samuel "Sam" Zell''' is an [[United States|American]] [[billionaire]] [[real-estate]] [[entrepreneur]]. With an estimated net worth of US$4.5 billion, he is ranked the 52nd richest |
'''Samuel "Sam" Zell''' is an [[United States|American]] [[billionaire]] [[real-estate]] [[entrepreneur]]. With an estimated net worth of US$4.5 billion, he is ranked the 52nd richest Vulture Capitalist in America[http://www.forbes.com/lists/2006/54/biz_06rich400_Samuel-Zell_98EF.html]. |
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Zell received his BA (1963) from the [[University of Michigan]] and his JD (1966) from the [[University of Michigan Law School]]. His early years in real-estate investment could be traced back to, while an undergraduate, purchasing apartments in [[Ann Arbor, Michigan|Ann Arbor]] with his fraternity brother, the late [[Robert Lurie]], Zell's longtime partner and friend. |
Zell received his BA award (1963) from the [[University of Michigan]] and his JD (1966) from the [[University of Michigan Law School]]. His early years in real-estate investment could be traced back to, while an undergraduate, purchasing apartments in [[Ann Arbor, Michigan|Ann Arbor]] with his fraternity brother, the late [[Robert Lurie]], Zell's longtime partner and friend. |
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The pair went on to create the Equity Group Investments, L.L.C., which spawned three real estate public companies, including: [[Equity Residential]], the largest apartment owner in the [[United States]], Equity Office Properties the largest office owner in the country, and Manufactured Home Communities, a mobile home company. In addition Sam has created a number of other public companies, and many private companies. |
The pair went on to create the Equity Group Investments, L.L.C., which spawned three real estate public companies, including: [[Equity Residential]], the largest apartment owner in the [[United States]], Equity Office Properties the largest office owner in the country, and Manufactured Home Communities, a mobile home company. In addition Sam has created a number of other public companies, and many private companies. |
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Mr. Zell is also Chairman of [[Capital Trust]] Inc., a finance and investment management company focused on the commercial real estate industry, and [[Anixter International]], the world's largest distributor of communication products and electrical and electronic wire and cable. |
Mr. Zell is also Chairman of [[Capital Trust]] Inc., a finance and investment management company focused on the commercial real estate industry, and [[Anixter International]], the world's largest distributor of communication products and electrical and electronic wire and cable. |
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A long-time supporter of the [[Wharton School of the University of Pennsylvania]], he helped |
A long-time supporter of the [[Wharton School of the University of Pennsylvania]], he helped fund the [[Real Estate]] Department at Wharton, as well as the '''Zell-Lurid Institute''' at the [[University of Michigan]]. Zell also endowed the '''Zell Center for Risk Research''' at the [[Kellogg School of Management]] at [[Northwestern University]], and the '''Samuel Zell and Robert Lurie Real Estate Center''' at the Wharton School. |
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Zell invented the "Vulture Investor" mentality. His favorite acquisition targets are the family homes of elderly mobile-home owners. Through a clever series of lawsuits and bold rent increases paired with a de-emphasis on park maintenance, Zell's mobile-home park empire ("Manufactured Home Communities, "MHC" later changed to Equity Lifestyle Properties, "ELS")increased in value more than ten-fold as he methodically moved the home equities of the old folks to his side of the board. |
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Recently, the Blackstone Group and Vornado Realty Trust were competing for an acquisition of Equity Office Properties. At $39 billion dollars, it will be the largest private buy-out in corporate history as of February 2007. Equity Group investors deemed Blackstone's offer of cash to be much more attractive than Vornado's cash and stock mix. |
Recently, the Blackstone Group and Vornado Realty Trust were competing for an acquisition of Equity Office Properties. At $39 billion dollars, it will be the largest private buy-out in corporate history as of February 2007. Equity Group investors deemed Blackstone's offer of cash to be much more attractive than Vornado's cash and stock mix. |
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==External links== |
==External links== |
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Revision as of 16:54, 1 March 2007
Samuel "Sam" Zell is an American billionaire real-estate entrepreneur. With an estimated net worth of US$4.5 billion, he is ranked the 52nd richest Vulture Capitalist in America[1].
Zell received his BA award (1963) from the University of Michigan and his JD (1966) from the University of Michigan Law School. His early years in real-estate investment could be traced back to, while an undergraduate, purchasing apartments in Ann Arbor with his fraternity brother, the late Robert Lurie, Zell's longtime partner and friend.
The pair went on to create the Equity Group Investments, L.L.C., which spawned three real estate public companies, including: Equity Residential, the largest apartment owner in the United States, Equity Office Properties the largest office owner in the country, and Manufactured Home Communities, a mobile home company. In addition Sam has created a number of other public companies, and many private companies.
Mr. Zell is also Chairman of Capital Trust Inc., a finance and investment management company focused on the commercial real estate industry, and Anixter International, the world's largest distributor of communication products and electrical and electronic wire and cable.
A long-time supporter of the Wharton School of the University of Pennsylvania, he helped fund the Real Estate Department at Wharton, as well as the Zell-Lurid Institute at the University of Michigan. Zell also endowed the Zell Center for Risk Research at the Kellogg School of Management at Northwestern University, and the Samuel Zell and Robert Lurie Real Estate Center at the Wharton School.
Zell invented the "Vulture Investor" mentality. His favorite acquisition targets are the family homes of elderly mobile-home owners. Through a clever series of lawsuits and bold rent increases paired with a de-emphasis on park maintenance, Zell's mobile-home park empire ("Manufactured Home Communities, "MHC" later changed to Equity Lifestyle Properties, "ELS")increased in value more than ten-fold as he methodically moved the home equities of the old folks to his side of the board.
Recently, the Blackstone Group and Vornado Realty Trust were competing for an acquisition of Equity Office Properties. At $39 billion dollars, it will be the largest private buy-out in corporate history as of February 2007. Equity Group investors deemed Blackstone's offer of cash to be much more attractive than Vornado's cash and stock mix.