A LEGACY OF TIMING: WHAT SAM ZELL HAS BOUGHT AND SOLD IN THE LAST 24 MONTHS

February 16, 2016

Equity Residential Multifamily Portfolio

Price: $5.4B

Size: 23,000 apartments

Buyer: Starwood Capital

This massive multifamily sale to Barry Sternlicht’s (pictured) Starwood Capital dumped 20% of Zell’s Equity Residential in one fell swoop. The 72 properties involved were mostly in the suburbs of Denver, Seattle, Washington, DC, South Florida and Southern California, as the REIT’s CEO, David Neithercut, believes long-term returns “in the urban core will exceed those in other markets.”