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Remember last December's rumors about a potential Sam Zell/Airbnb revenue-sharing union? Apparently, it won't happen anytime soon.
On a year-end earnings call held yesterday, execs at Zell's Equity Residential said the economic benefits of a deal “would be at the bottom of our priority list,” adding there are “ways to go before anything meaningful comes” of talks, The Real Deal reports.
In the meantime, expect the Zelling spree to continue as the REIT plans to divest an additional $300M in assets by the end of this year, following this month's $5.4B portfolio sale to Starwood Capital. [TRD]
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