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Private equity (view source)

Revision as of 18:32, June 7, 2023

831 bytes added ,  18:32, June 7, 2023
real estate havoc - recent San Fran example
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Even an owner in a new Italian soccer league opposes selling an interest in his league to a private equity firm, despite how Goldman Sachs, Searchlight Capital, and Apollo Global Management have shown an interest to pay big bucks for a piece of the new league.
 
Even an owner in a new Italian soccer league opposes selling an interest in his league to a private equity firm, despite how Goldman Sachs, Searchlight Capital, and Apollo Global Management have shown an interest to pay big bucks for a piece of the new league.
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== Real Estate Havoc ==
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The private-equity owner of those two massive [[San Francisco]] hotels (both over a 1000 rooms) intentionally defaulted on the loans that it could pay, and abandonied the properties to the banks in June 2023.  This creates a massive loss for the banks, and a terrible ripple effect.
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Private equity managers separate investment from ownership and are causing many real estate problems today after also causing havoc in health care and small businesses.  Tying home ownership to occupancy is a central tenet of a prosperous society.  Private equity (a publicly traded REIT in this case, Park Hotels & Resorts<ref>https://www.pkhotelsandresorts.com/investors/news-and-events/press-releases/2023/06-05-2023-113043391</ref>) is the culprit here but their rapacious conduct is typical of private equity firms.
    
== References ==
 
== References ==
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