The Wall Street Journal, May 13, 2021, Blackstone Swoops Into San Diego to Buy Low-Cost Housing
Blackstone Group Inc. is buying 66 multifamily properties in the San Diego area for more than $1 billion and plans to invest some $100 million to improve the properties, whose apartments currently provide low-cost housing to thousands of people.
The deal would transfer about 5,800 apartments to Blackstone’s real-estate portfolio from the Conrad Prebys Foundation, named for the developer who assembled the portfolio of properties involved. The San Diego Union-Tribune, which earlier reported on the deal, said Blackstone already…
