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Post Info TOPIC: US billionaire to invest in Colombian real estate


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US billionaire to invest in Colombian real estate
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US billionaire to invest in Colombian real estate

 



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Colombia News - Sam Zell

Billionaire Sam Zell said he will enter the Colombian and Indian real estate market in the next two weeks.

Zell, chairman of Chicago-based Equity International told Bloomberg television he is choosing to invest in Colombia and India instead of the U.S. due to low interest rates and high inflation in the North American nation.

Zell called Colombia “the next star of Latin America” and plans to first invest in real estate and subsequently residential projects. The businessman’s plan for India is to open a chain of hotels.

Equity International is investing $75 million in Terranum Development, a Colombia-based real estate company, with a two million square foot mixed-use complex near Bogota’s international Eldorado Airport that is currently in the works.

Equity International was founded in 1999 and has invested in real estate companies around the world in countries including Brazil, Mexico, and China.

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colombiareports.co/billionaire-to-invest-in-colombian-real-estate/

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Zell called Colombia "the following star of Latin America" and arrangements to first put resources into land and along these lines private activities. The agent's arrangement for India is to open a chain of lodgings.



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Sam Zell said he will enter the Colombian and Indian land advertise in the following two weeks.

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I have heard that hundreds of people have invested in real estate. I am sure that this business can be beneficial for all of those people because it is going to be increased.

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This method has the following characteristics:

 

  1. Investor has 100% ownership and control of liquidity decisions
  2. Investment is very proactive and involves time and expense to travel, visit, do showings on one or more visit, pay legal fees and closing costs and make decisions regarding remodeling, furnishing and decorating.
  3. 95% of investors have visited and seen properties before buying.
  4. Average investment cost in El Poblado Medellin is $175,000 USD.
  5. It is visa eligible.
  6. The minimum rental period for the property will be 30 days or longer. (no short-term rentals permitted in residential buildings)
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He was responding to a question from Nareit CEO Steven A. Wechsler about immigration.

 

Zell, the son of Polish immigrants who grew up in Chicago, said that even though immigration has become a "distraction" in the U.S., this country was built on immigration and cultural assimilation.

 
 
 

He added that his company had built CBX, a bridge between Chula Vista, California, and the Tijuana International Airport in Mexico, in which some two million people pay to cross a year.



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