Sam Zell Looks to Brazil to Change His Luck

Real estate tycoon Sam Zell, trying to restore his stature as an astute investor after his disastrous buyout of Tribune Co., has surfaced as an unlikely player in a controversy in Brazil over affordable housing.

Mr. Zell has been focusing much of his time on his global real-estate investments since the bankruptcy filing by Tribune late last year. His real-estate private-equity firm,...