| History isn't always repeated, but when it comes to | | | | of the GDP. This is quite low compared to estimates |
| real estate investing, many bet on Sam Zell's past | | | | of 11% in Mexico, 20% in Chile, and 45% in Spain. |
| history. In the 1990's, he gained the nickname "grave | | | | Worldwide financial crisis aside, mortgage lending in |
| dancer" by buying and profiting on distressed | | | | Brazil is rising, some reports putting it at 41% this year, |
| properties. And, worldwide, distressed properties are | | | | and companies like Equity International are moving to |
| definitely in the news now. So, real estate investors | | | | invest and profit from the growth in Brazil's economy |
| everywhere pay attention to what Sam Zell says, | | | | and particularly the residential housing initiatives and |
| such as in a recent CNN interview: "Brazil is the | | | | construction. Of course, building homes spurs |
| number one country in the world for investments." | | | | purchases of durable goods; refrigerators and |
| There is a lot going on in Brazil, whether it be | | | | appliances. The supermarket giant, Grupo Po de Acar |
| government or private sector housing investment and | | | | purchased Ponto Frio, an appliance manufacturer to |
| construction. The government's $18 billion stimulus plan | | | | cash in on this boom in appliance sales. |
| for building affordable housing is keeping a great many | | | | Let's not leave out opportunities in commercial real |
| home builders busy. Couple that with a 5 percent cut in | | | | estate in Brazil. Singapore recently entered the |
| Brazil's Selic interest rate, and you have a pretty | | | | commercial real estate arena via a joint venture with |
| positive climate for real estate. Real estate financing is | | | | Cyrela Commercial Properties. Add to this investment |
| where Sam Zell says the country needs to place its | | | | from the Canada Pension Plan Investment Board's real |
| emphasis. His privately-held firm, Equity International, | | | | estate subsidiary for this joint venture to invest in |
| has taken an interest, with a large stake in home | | | | office buildings, shopping centers, and distribution |
| builder Gafisa SA. According to an article at the Wall | | | | centers. Analysts from five banks and brokerages |
| Street Journal Online, half of Equity International's | | | | recently reported to Reuters that Cyrela, Gafisa SA, |
| invested capital and 70% of its investments' market | | | | and Rossi Residencial all posted operational profits |
| value is in Brazil. | | | | gains in 2008. Taking all of this into account, many |
| One source reports that the Banco Central do Brazil | | | | analysts predict that Brazil will emerge first and fast |
| places Brazil's residential mortgage lending at only 2.5% | | | | with growth after global financial markets stabilize. |