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buried_lede t1_j9tz9w2 wrote

They claim to clear 30-percent per year profit on all their holdings. That’s a lot. They run RE private equity funds and are one of the largest multifamily owners in the country.

They are causing trouble in Portland Maine as well.

I hope the court takes it into receivership, just to introduce them to real consequences. Whatever millions they extract from this company will be a drop in the bucket. The principles of the firm probably each take home millions a year


Form684 t1_j9ur1q2 wrote

Who owns it?


buried_lede t1_j9urxip wrote

“Century Hills is a subsidiary of JRK Property Holdings of Los Angeles, which owns 80,000 residential and business rental and hotel units in 30 states. “

JRK is based in LA

The founder also serves on the boards of Union College and Cedars Sinai Hospital. I believe he’s the chairman of the board of Cedars Sinai, one of the best hospitals in the country.

Oh how these PE firms insulate themselves from the reality of their slumlording. Upstanding, prominent, community minded, advisors with excellent business skills. Cut to buckets in the lobby catching rain in Rocky Hill

In New Haven, most of the biggest apartment owners are PE firms mostly investing overseas money (Mandy, Pike) and the subject of endless complaints. They are considered slumlords by New haven city hall.