This Cash-Rich REIT Is on the Acquisition Hunt
Equity Commonwealth (NYSE: EQC) has built an enormous cash war chest over several years by steadily selling off its office portfolio. The Sam Zell-led real estate investment trust (REIT) has been searching for the right acquisition opportunity to put that money to work. While the company finally found a target last year, the deal fell apart when that REIT's shareholders voted against the transaction.
The office REIT hasn't given up on its hunt for a deal. That's clear from comments by the management team on the recent first-quarter conference call.
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Source Fool.com
