Sam Zell taps real estate vet as co-president of investment firm
(Crain's) — Sam Zell has tapped a real estate veteran who previously ran one of his companies to be co-president of Equity Group Investments, according to a report.
David Helfand joins the Chicago-based firm from real estate management company Helix Funds, which he founded, the Chicago Tribune reported. He will be co-president of Equity Group with firm veteran William Pate, the Tribune reported.
Mr. Pate's previous title was managing director, the Tribune said. He has been with Equity Group since 1994, according to the report. He is 48.
Mr. Zell told the paper he knows who would succeed him if that were necessary, but he declined to name the person and indicated he has no plans to retire.
Mr. Helfand, 47, previously was CEO of Equity LifeStyle Properties Inc., a Chicago-based mobile home park owner chaired by Mr. Zell. His father-in-law is Neil Bluhm, a well-known local real estate investor, the Tribune reported.
Mr. Helfand's real estate expertise and Mr. Pate's knowledge in corporate deals and management is the combination Equity Group needs, Mr. Zell told the Tribune.
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