Don’t expect the European Union to break out the welcome mat for Sam Zell anytime soon.
The real estate magnate, speaking on a panel with Bill Marriott at the Americas Lodging Investment Summit in Los Angeles last month, was discussing what he thought were potential real estate investment opportunities throughout the world — and how Europe presented none.
“It’s good for cheese and holidays and wine, but nobody does anything there,” Zell said. “Nobody makes anything there.”