Real Estate Fund, Brazil, Asset Management

Sam Zell – Affordable Housing in Brazil

by manoj on September 27, 2010

He said “Brazil represents a very unique set of circumstances, it’s politically stable, it’s energy self-sufficient, it’s got a growing population, it’s an educated population and consequently, it’s now, for the first time beginning to kind of step out.” Zell’s property investments in South America’s largest economy include, the largest shopping center owner BR Malls and the largest homebuilder Gafisa. In the past month, Zell’s Equity Investments added to its Brazilian portfolio, by investing an 8.5% stake in Brazil Finance & Real Estate, a real estate finance company.

Zell’s focus right now is on homebuilders, as he says “they represent the first step up from lower to middle” and that “there’s a great desire among the governments (of emerging economies) to go in that direction.”

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