I looked at each property and figured out how much debt service it could handle based on its existing cash flow. I’d restructure the debt at a lower … - Sam Zell

In exchange for their capital, I made a commitment to give them the best return possible on their investment. That was my primary obligation. Nothing stood before that.

There’s a line from an old movie, Wheeler Dealers: “You don’t go wheeling and dealing for the money, you do it for fun. Money’s just a way of keeping score.

In 2006, China was suffering from a dearth of available investment capital. Locals were waving in U.S. and other foreign investors with open arms. As you know by now, I love a market or deal that is starved for investors. It creates an environment where sellers and partners are bending over backward for you. I discovered that advantage over and over in my career, and I’m always on the lookout for that dynamic.