Sudden Resignations Put Zell Back in Driver’s Seat

therealdeal informs MHProNews that Sam Zell, CEO of Equity Lifestyle Properties, Inc. has taken the helm of Equity International in the wake of the sudden departure of its CEO and co-founder Gary Garrabrandt, and chief strategic officer Thomas McDonald. Equity International primarily invests in or buys existing real estate companies in emerging markets, having raised $650 million last year. A new CEO must be approved by Equity’s shareholders before the company can make any new investments. The largest MHC owner in North America, Equity Lifestyle Properties, Inc. has a controlling interest in 380 communities with over 141,000 homesites.

(Photo credit: Wall Street Journal–Sam Zell)

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