Sunday, October 3, 2010

More on Sam Zell in Latin America

Last week, I mentioned that Mr. Zell's Equity International (EI) unit was increasing its focus on Mexican and Colombian real-estate firms.

On Friday, EI reported that it had trimmed its holding in Brazilian homebuilder Gafisa S.A. (Brazil:GFSA3, US: GFA) and property manager BR Malls Participacoes S.A. (Brazil:BRML3). EI's chief executive officer Gary Garrabrant, said. "Today's transactions simply reflect the ongoing execution of EI's disciplined and proven monetization philosophy." In other words, it is time to take some profits.

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