Sam Zell Apologizes For Utilizing Lewd Remark to Discuss with Ladies

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Property magnate

Sam Zell

has apologized to the organizer of an actual property affiliation convention for utilizing a lewd time period to seek advice from ladies, in line with a e-newsletter emailed to members.

Mr. Zell “reached out” to make the apology after the convention in New York organized by Nareit, in line with an announcement within the affiliation’s e-newsletter attributed to Steve Wechsler, its chief government, and Thomas Baltimore Jr., its chairman.

Zell additionally expressed “his remorse to the Nareit neighborhood,” mentioned the assertion within the e-newsletter emailed to members Monday. “We apologize to our attendees and others who’ve heard or examine Mr. Zell’s language in varied media studies.” 

A spokeswoman for Mr. Zell didn’t return a request for remark Monday night. A spokesman from Nareit, previously referred to as Nationwide Affiliation of Actual Property Funding Trusts, mentioned Monday night the apology was made by telephone.

The founder and chairman of Fairness Group Investments, Mr. Zell made the comment at a panel interview with Mr. Wechsler throughout a convention luncheon. He was responding to a query about office variety and the #MeToo motion.

Mr. Zell, who is understood for making irreverent remarks through the years, mentioned he was a believer in meritocracy and that he has by no means promoted nor demoted a lady as a result of she is a lady.

“I don’t assume there’s ever been a, ‘We gotta get extra pussy on the block’” mentality at his firm, he mentioned then.

“Mr. Zell’s language was utterly unacceptable and isn’t welcome at Nareit-sponsored occasions (or, in our view, anyplace else),” the assertion by Messrs. Wechsler and Baltimore mentioned. “Furthermore, his language doesn’t symbolize Nareit’s values—nor does it symbolize the values of the ladies and men who work within the trade that we symbolize.”

Some folks within the viewers laughed at his remarks. However some ladies walked out, in line with attendees.

“Nareit strives to make sure audio system at our occasions current related and helpful insights in a totally applicable method,” the e-newsletter mentioned. “Our members rightfully count on this from us—and we are going to make each effort sooner or later to fulfill this expectation.”

Write to Esther Fung at

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