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Armstrong Pedals to the RE Market

Posted December 25, 2009 by Matthew Denton

The celebrated athlete is joining a different race

It seems that Tour de France multiple champion Lance Armstrong is conquering every field that he wants to. BusinessWeek was the first to report that the cyclist is venturing into the real estate business through teaming up with Lance Salliss, a veteran in the industry. Together with a former NFL player, they’ll expand the existing realty company’s operations in buying and developing office, industrial, retail, hotel and multifamily commercial real estate in Austin Texas.

Armstrong has established several businesses before including a hotel but this latest project is his largest real estate undertaking so far. Salliss on the other hand knows how to spice things up even in a very rough economy. Try to work with celebrities and you’ll generate instant publicity.

Celebrities who partner with businessmen in trying out existing ventures can very well capitalize on their reputation and years in the field where they built their names. It’s what CSE Realty is going to market to buyers. In fact, their website posts, “…the diverse and talented group within CSE brings expertise, reputation, and experience not only from the real estate space, but also from consumer marketing, event promotion, and sports industries. The unique collection of former Olympic and professional athletes at CSE creates an environment of goal-setting, competitive drive, and work ethic that inspires everyone in the Realty Partners office.”

So what’s next? Megan Fox buying half of a REIT company’s ownership? Hugh Jackman selling high-end properties in Oz? Or maybe Paris Hilton finally getting serious with running her father’s business?

Well, if it would take celebrities to get Americans to believe in building back the industry, then I say they should start moving now.

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