Billionaire Zell buys 7.7% stake in Starwood

02/5/2008 | Bloomberg

Billionaire Sam Zell has become Starwood Hotels & Resorts Worldwide's second-largest shareholder with his purchase of a 7.7% stake in the company. The acquisition comes a year after Zell, a real-estate developer, sold Equity Office Properties Trust to the Blackstone Group LP for $39 billion, and analysts say the purchase could be a signal that the commercial real-estate market has bottomed out.

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