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Blackstone pays £969m for student digs firm GCP Student Living
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Marc Rowan Plans to Be the CEO Who Keeps Apollo Above the Fray
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Marc Rowan Plans to Be the CEO Who Keeps Apollo Above the Fray
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UK property developer St Modwen accepts new offer from US private equity group
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The Conrad Prebys Foundation created by Prebys, a hugely successful developer and generous philanthropist who died in 2016 announced this week that it had sold 66 residential apartment complexes with 5,800 apartment units to New York-based Blackstone Group. Blackstone promised to keep most units affordable for those who make 80 percent or less of the region’s median income.
But it’s tough not to be nervous about what comes next. Whether it’s vacation rentals or apartments, wealthy investors with no intention of ever living here see San Diego real estate as a money-making opportunity a hugely complicating factor in the ongoing push for more affordable housing.