Real Estate Execs Look Abroad for Growth

Real Estate Execs Look Abroad for Growth

More than 61 percent of real estate executives plan to invest in property outside the United States this year, according to a study released last week.

The Bryan Cave Real Estate Executives Forecast Survey polled 343 public and private real estate company executives, investors, opportunity funds, commercial mortgage bankers, lenders and brokers.

About 15 percent said they plan to invest in Mexico; another 15 named China as their investment target. Other countries mentioned include the United Kingdom, Canada, and Japan.

Sam Zell, chairman of Equity Office Properties Trust, Equity Residential, and Equity Lifestyle Properties Inc., predicts greater growth in the real estate market over the next 10 years outside the U.S. “Brazil, Mexico, Russia, China and India will produce five times as much real estate business as will the U.S.,” Zell says.

Source: Dow Jones Newswires, Janet Morrissey (06/12/2006)

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