Archive

Posts Tagged ‘equity international’

Zell, Soros, Druckenmiller and Icahn Agree: A Big Board Correction is Imminent

September 5th, 2014 Comments off

new york stk exch current  wikipediaSam Zell, Chairman of  real estate giant Equity International, and Equity LifeStyles, which owns/has an interest in 380 manufactured housing and recreational vehicle communities in North America, noting corporations that have missed their expected goals were low on the revenue side, which means the demand is not there for their product, says, “When you got a demand issue it’s hard to imagine the stock market at an all-time high.”

In a segment on CNBC, as reported by businessinsider.com, Zell admits to cautiously waiting for the stock market to plunge: “I don’t remember any time in my career where there have been as many wild cards floating out there that have the potential to be very significant and alter people’s thinking.”

ELS’ Chairman says the government decries the growing disparity in income in the country, but at the same time keeps the interest rates low, which benefit the wealthy but not the non-wealthy.

As MHProNews  readers know, the stock market has been one of the better investments in recent years, so people have been flowing to it. Billionaire investors George Soros, Stan Druckenmiller and Carl Icahn have all issued ominous warnings to varying degrees about the equity markets. ##

(Photo credit: wikipedia.org–New York Stock Exchange)

 

(Editor’s Note: Sam Zell’s comments on market, investing, MHC and MH issues are covered in depth in our two part authorized exclusive, at this link here.)

Words of Wisdom from Chairman Sam (Zell)

November 11th, 2013 Comments off

MHProNews has learned from multihousingnews in an interview at the Urban Land Institute Nov. 7 of Sam Zell, founder of Equity Group Investments and Equity International, by one-time Zell executive and now Green Courte Partners LLC Chairman Randy Rowe, Zell had some pithy insights. He said it’s ok to make a deal that you lose sleep over but not one where you can neither eat nor sleep. Not knowing when the next opportunity will strike, Zell said he reads constantly so he may better recognize an opportunity when it comes along. Noting “the risk/reward ratio is the determinant of success,” and “I never knew what I couldn’t do,” Zell said some people are intelligent but cannot accept the possibility of their being a downside so they resist risk. He said, “Anyone can put their name on a building. My focus has been on trying to make a difference.” Zell is chairman of Equity LifeStyle Properties, which owns 380 manufactured home and recreational vehicle communities in North America.

(Photo credit: einnews.com–Randy Rowe interviewing Sam Zell at Urban Land Institute meeting)

Zell to Speak at National Communities Council Forum

August 15th, 2013 Comments off

The National Community Council’s Fall Leadership Forum will be held Oct. 16-18, 2013 at the W. Chicago City Center Hotel. Titled “Building a Vision for the Future,” Sam Zell, Chairman of Equity Group Investments and Equity International, which own Equity LifeStyle Properties, will be the featured speaker at the conference. Topics surrounding all aspects of manufactured housing communities (MHCs) will include The Future of Financing for Homes, Finding Ways to Improve the Customer Experience, and Learning from Innovative Smaller Operators. Other industry leaders are set to discuss combining traditional marketing with social media and mobile apps. As MHProNews knows, Zell’s Equity LifeStyle Properties is the largest owner of MHCs in North America. For more information contact Jenny Hodge at jhodge@mfghome.org.

(Image credit: National Communities Council of the Manufactured Housing Institute)

Execs Depart Zell’s Equity International

May 24th, 2013 Comments off

The Wall Street Journal informs MHProNews three senior executives at Sam Zell’s Equity International (EI) real estate company resigned this week on the heels of the head of capital markets departure, as well as co-founder of the fund and CEO Gary Garrabrandt, who left last Sept. Chief Operating Officer Ira Chaplik, General Counsel Brian Richter, and Executive Vice President in Charge of Tax Structuring Cheryl Engle are all leaving EI, although Engle and Richter will become outside consultants and Chaplik will be an advisor to the company. The departures allegedly stem from disputes over compensation and the firm’s direction. Zell is chairman and owns the majority of EI, receiving over half of the profits, and is also chairman of Equity LifeStyle Properties (ELS). Tom Heneghan, who replaced Garrabrandt, had been CEO of ELS, the owner/operator of 380 manufactured housing and recreational vehicle communities in the U. S. and Canada.

(Photo credit: Equity LifeStyle Properties, Inc.— ELS country club in Calif.)

ELS Moves Up Personnel

October 19th, 2012 Comments off

MarketWatch reports Equity LifeStyle Properties, Inc. (ELS) announces the company’s CEO, Thomas Heneghan, will become CEO of Equity International effective Feb. 2013. The company’s current president and CFO, Marguerite Nader, will fill the position of ELS’ president and CEO as of Feb. 1, 2013. As MHProNews reported Sept. 13, Heneghan replaces Gary Garrabrandt, co-founder of EI, whose sudden departure had Sam Zell temporarily holding the reins. Heneghan will also become co-vice chairman of the board of directors. Patrick Waite, with extensive experience in the manufactured housing industry, will become Senior Veep of Operations. He previously was Senior Veep of American Residential Communities (ARC). Zell says of Heneghan, “For almost two decades Tom Heneghan has provided outstanding leadership and service to this company, and we cannot thank him enough for all that he has accomplished. Equity International has raised over $2 billion from investors and has investments in 15 countries. ELS operates 382 communities in 32 states and British Columbia comprised of 141,077 homesites.

(Photo credit: ELS–Lake Haven, Clearwater, Fla.)

Zell Taps ELS CEO to Lead Global Firm

October 8th, 2012 Comments off

The Wall Street Journal reports billionaire investor Sam Zell is expected to choose Thomas Heneghan, now CEO of Equity LifeStyle Properties, Inc. (ELS), to replace Gary Garrabrandt as head of Equity International, Zell’s global real estate investment arm. Investors in Equity International (EI) must approve Zell’s choice, but could also make other changes to the most recent fund, or even close it. As MHProNews reported Sept. 13, 2012, Zell took the reins of EI following the sudden departure of Garrabrandt (with whom he started the initiative) and chief strategic officer Thomas McDonald. ELS has controlling interest in 380 MHC and RV communities comprised of over 141,000 home sites.

(Photo credit: Equity Lifestyle Properties, Inc.—Lake Haven, Clearwater, Fla.)

Sudden Resignations Put Zell Back in Driver’s Seat

September 13th, 2012 Comments off

therealdeal informs MHProNews that Sam Zell, CEO of Equity Lifestyle Properties, Inc. has taken the helm of Equity International in the wake of the sudden departure of its CEO and co-founder Gary Garrabrandt, and chief strategic officer Thomas McDonald. Equity International primarily invests in or buys existing real estate companies in emerging markets, having raised $650 million last year. A new CEO must be approved by Equity’s shareholders before the company can make any new investments. The largest MHC owner in North America, Equity Lifestyle Properties, Inc. has a controlling interest in 380 communities with over 141,000 homesites.

(Photo credit: Wall Street Journal–Sam Zell)