WHOA
Storied real-estate investor Sam Zell, who made a fortune buying distressed commercial properties, has died at the age of 81.Zell’s death was announced Thursday by real-estate investment trust Equity Residential, where he had served as chairman since the Chicago company’s initial public offering in August 1993.Zell founded Equity Residential’s predecessor company more than 50 years ago while he was a student at the University of Michigan. He was also chairman of office REIT Equity Commonwealth and manufactured home community and resort REIT Equity LifeStyle Properties.
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