Capital Markets

CHICAGO- Real estate titan continues to predict massive consolidation for the real estate industry, saying the upcoming changes will be akin to the "oligopolization" of steel and autos early last century. Zell says the two REITs he launched and in which he remains the largest shareholder, Equity Office REIT and Equity Residential REIT, will increasingly focus on offering services to their huge client base. Sees Equity Residential offering insurance and mortgages to renters who are leaving to buy homes.