R. Scot Sellers, CEO of Archstone, is a strong proponent of public ownership despite the former public company currently being privately held. Speaking at the Real Estate Luminary Series event sponsored by NAREIT and Georgetown University's McDonough School of Business, Sellers said the public model is more supportive of a contrarian investment style such as Archstone's. "It is much more difficult as a private company to convince investors to follow your instincts," he says. The key to the multifamily sector -- for public and private firms -- is the continuing support of the GSEs. Seller believes Fannie Mae and Freddie Mac will continue to play a role, but the shape of that role is still unclear.
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