What's Left; After selling off his office empire, Sam Zell turns toward foreign markets, vulture plays.(Equity Office Properties Trust sold to Blackstone Group )(Brief article)

Crain's Chicago Business, November, 2006 by Gallun, Alby

Byline: ALBY GALLUN Sam Zell may have just orchestrated the biggest real estate deal in U.S. history, but his next blockbuster deal is more likely to involve river barges or Mexican housing developments than office buildings. The billionaire investor relinquished his title as the nation's biggest office landlord last week, agreeing to sell his Equity Office Properties Trust to New York-based Blackstone Group for $20 billion.

Chicago-based Equity Office, the nation's largest real estate investment trust, delivered mixed results for investors and cut its dividend earlier this year. If his current holdings are any indication of his investing plans, it looks like Mr. Zell may be through with U.S. commercial real estate, at least for now. His biggest real...

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