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Real Estate Mogul Sam Zell Makes a Splash in Seniors Housing

When the Tribune Co. was sold last December in an $8.2 billion buyout led by Sam Zell, the 66-year-old real estate magnate was quietly placing a bet on seniors housing, too. The same week the Tribune deal closed, Zell's Equity International invested $75 million in two companies that own and operate retirement communities overseas. The move represents Zell's entry into the seniors sector. “We like the macro fundamentals of the market,” says Christopher Fiegen, chief investment officer at Chicago-based Equity International. Equity International purchased a 28% interest in Renaissance LifeCare PLC and Sanctuary ...

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