Sam Zell "Comes Clean" for Penton's National Real Estate Investor (nreionline.com)
NEW YORK, Feb. 7, 2012 /PRNewswire/ -- In an interview in the February 2012 issue of National Real Estate Investor, Sam Zell, chairman of Equity Group Investments, stated that the commercial real estate industry needs to "come clean" with expectations. Zell said, "It's strictly that we have a lot of stuff in the system that is mispriced and not realistically held."
The cover story, also available online at nreionline.com (http://nreionline.com/property/international/zell_interview_janfeb_01252012/) provides Zell's candid views on the 2012 election, public versus private commercial real estate investment and construction trends.
Some of Zell's views include:
- "The good news is that with the exception of apartments, there is little or no new supply. And I don't think we'll see much new construction in 2012."
- "Overall, real estate is about supply and demand. I am concerned about the demand, but I'm comforted by the lack of supply."
- "Going forward, access to capital is going to be the governor of the real estate business. Given that, in the current climate it's likely that being public with that kind of debt-to-equity ratio is likely to be more successful going forward than the 'leverage it up and take it private' model."
"After sitting down with Mr. Zell, I understood that he is not the person that most people want to believe he is," explained NREI's Editorial Director, David Bodamer. "He is a hard worker, knows the business from front to back and doesn't regret the decisions he's made."
"This exceptional article proves once again how National Real Estate Investor continually maintains its leadership as the number one news and information source in the industry," said Jonathan A. Schein- Practice Leader of Penton's Commercial Real Estate Group.
About Penton Media, Inc.
As a leading, independent, business-to-business media company, Penton knows business and how to create and disseminate the vital content that moves markets. Penton is where professionals turn to gain the critical insight, expert analysis, and relevant connections needed to compete and succeed. The Company is headquartered in New York City with approximately 1,100 employees across key locations throughout the world including New York; Cleveland; Chicago; Overland Park, Kansas; Boulder, Colorado; Fort Collins, Colorado; and Hong Kong. Penton is a privately held company owned by MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and its co-investors. For additional information on the company and its businesses, visit www.penton.com.
About National Real Estate Investor
National Real Estate Investor is the industry's leading digital and print source on commercial real estate trends and for readers representing a cross-section of disciplines -- brokerage, construction, owner/development, finance/investment, property management, corporate real estate, and real estate services. For additional information, visit www.nreionline.com.
Neta Yoffe, Corporate Communications
Penton Media, Inc.
Phone: (212) 204-4259
SOURCE Penton Media, Inc.