University To Invest In Alumnus Sam Zell's Funds
As colleges chase better endowment returns through real estate, the University of Michigan’s $10B endowment is turning to funds started by alumnus and real estate guru Sam Zell.
The school is putting more money into two emerging market real estate funds from Zell, who donated $60M to the school last year.
The endowment is upping its real estate investments across the board, putting $36M into a London-based real estate fund, and undisclosed amounts of cash into office properties in S.F., Seattle and Boston, Bloomberg reports.
Zell is a good place to turn for real estate guidance—the mogul is putting his famously good timing to use lately, wheeling and dealing in preparation for what he thinks is a coming recession. [Bloomberg]