Sam Zell: big in 2007
The year 2007 was the best of times as well as the worst of times. But really, even the worst of 2007 was seen by some private equity real estate market participants as a mere reversion to the mean. After all, compared against the dizzying first half of 2007, almost any real estate market looks disappointing.
The year was one of superlatives. The deals and funds had never been bigger; the GPs had never travelled further in search of a deal; the public and regulators had never taken a keener interest in alternative investments. The credit crunch, by contrast, had an effect on the market that is nowhere near the biggest real estate financial fiasco of all time – or at least it isn't yet.
The year 2007 will certainly produce some vivid memories for those in the private equity real estate market. PERE magazine was there to chronicle all the major trends and their tributaries. The editorial team of PERE thought it would be an interesting exercise to agree on ten stories that had particular resonance. Not all of these are screaming headlines – some are less obvious trends that we believe will gather momentum in the coming years, and are therefore worth paying special attention to now. We hope you enjoy our selection, even if you don't entirely agree with our mix.
The PERE editorial team has selected and analyzed ten trends that defined the year for private equity. You can find the stories to the right of the screen in the 'related stories' section. These events will no doubt produce some pleasant as well as troubling memories.