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CASHING IN ON THE FEEDING FRENZY

THOMAS
BARRACK
PRESIDENT & CEO
Colony Capital
Los Angeles

In a quest to return 20%-plus returns to investors in his opportunity fund, the polo-playing Barrack has gone from bidding for single assets to searching for ''niches of illiquidity.'' Barrack dabbles in a lot of different areas: Duty Free shops, cinemas, entertainment, hotel, oil, and gas. In 1997, he has started selling off more of his properties, many of them to REITs. Barrack is also looking abroad for distressed opportunities. As acquisition-minded REITs snap up properties at ever higher prices, Barrack hopes to keep feeding their appetite. And in the next real estate down cycle, he hopes to pick up a few REITs himself. His goal: to be diversified enough to become ''the Fidelity of the real estate business.''



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Updated Sept. 11, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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