Find more information on the issues deeply affected by private equity investments:
Tenants from African Communities Together protested and spoke to the University of California Regents about their investment in the CIM Group: WATCH VIDEO OF THE ACTION. On the morning of January 17th, chants of “C-I-M, SHAME ON…
In 2020, the private equity firm CIM Group purchased Southern Towers, a five-building apartment complex of over 2,000 units in Northern Virginia. For decades, Southern Towers has been home to thousands of hardworking blue-collar families, many of whom are African…
In early January, the University of California (UC) announced that it was investing $4 billion in the Blackstone Real Estate Income Trust (BREIT). The announcement provoked a backlash from Blackstone tenants and unions representing UC workers who criticized the…
Progress Residential’s troubles in Minnesota continued as a subsidiary of the company, Front Yard Residential, must now comply with additional regulations in order to operate in Minneapolis. The conditions include: A 6 month moratorium on acquiring new properties. Attending…
The CIM Group is a private equity real estate firm based in Los Angeles, CA. The last four CIM real estate funds have underperformed their peers, posting returns in the third and fourth (i.e. bottom) quartiles. For instance, CIM Fund VIII…
A new article from Hawai’i Business Magazine covers the effect of Blackstone and other firms in Hawai’i’s West Oahu rental market, relaying tenants’ experiences with rising rents and added fees. Hawai’i Business Magazine:…
Since September 2022, Atlanta-based journalism outlet 11Alive News has been publishing a series of televised news stories about ongoing issues Progress Residential. Owned by private equity group Pretium…
People’s Action’s Homes Guarantee campaign has drafted an executive order for President Biden, with the hopes of addressing the nation’s housing crisis. The executive order draft was signed by over 250 organizations including the Private Equity Stakeholder Project.
The Washington Post found that apartments sold to private investors and real estate trusts rose from 44 percent in 2011 to 70 percent in early 2022, with few benefiting more than Starwood Capital Group. Over the past seven years,…
A new PESP report detailing the North Carolina Retirement System’s (NCRS) history of investing over $3.2 billion in the private equity firm Landmark Partners has gained media coverage by the NC press. WUNC reported how PESP lays out Landmark Partners’…
There has been substantial media coverage of Oregon Senator Jeff Merkley’s introduction of legislation aimed at limiting hedge fund and private equity ownership of residential housing. KZTV, November 30, 2022: Merkley introduces bill to ban hedge fund ownership of…
“That has put tenants and landlords on a collision course. The battle between the Southern Towers tenants and CIM could presage what’s to come across America.” A recent Insider article detailed problems at the Southern Towers apartment complex in Northern…
