…then perhaps that should be taken as a very good sign. Zell seems to know real estate, when to get in and when to get out. Zell and company bought into Mexico’s biggest homebuilder, Homex, in 2002 and sold in 2008 for a $500 million profit. Knowing this market, you couldn’t have timed that any better. And now they are looking to get back in.
He did the same in the US, selling his company to Blackstone Group for $39 billion right at the peak of the market.
Gary Garubundt, who heads up Equity International, founded the company with Zell, and he’s once again interested in getting back into Latin America.
“The scale of this middle class growth and evolution is much more powerful than the violence that’s occurring on the border and in other areas of the country,”
You can read more here.