Sam Zell On His Activism At Commonwealth REIT

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Sam Zell On His Activism At Commonwealth REIT

Sam Zell, Equity Group Investments chairman, discusses backing an activist campaign to unseat board and management of CommonWealth, a real estate investment trust that owns more than 300 office buildings.

Transcript:

RV Capital 1H22 Letter to Co-Investors in Business Owner

write 1603127795RV Capital Co-Investor Letter for the first half ended June 2022. Q2 2022 hedge fund letters, conferences and more Dear Co-Investors,

first of all, this particular situation, the commonwealth situation, is a situation where a structural impediment results in shareholders having almost no voice. by virtue of an externally managed structure of which there are very few equity reits. all of the rest of them are self-managed and avoid conflicts that exist when an outside manager manages assets he doesn’t own. and as far as our backing is concerned, this started badly a year ago. they felt strongly that this was both an undervalued situation and a situation where sharehol