GLOBAL INVESTORS WITH BILLIONS PROMOTE REAL ESTATE INVESTMENT IN VENICE

Posted: March 20, 2015 in Gentrification, LUPC, Mike Bonin, Oakwood, VNC
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March 20, 2015

GLOBAL INVESTORS:  FUTURE OF REAL ESTATE INVESTMENT IN SOCAL COASTAL REGIONS IS IN HIGHER-END RESIDENTIAL PROPERTIES [in case you didn’t already know]

These investors are aiming to turn Venice into an enclave for the rich, gentrifying our community with their billions, with no thought for the community and how their ‘investments’ are creating misery and despair for low to middle income residents overwhelmed by mansionization, small lot subdivisions, and new trendy restaurants serving late-night liquor, creating an over-concentration of alcohol and traffic hazards in our neighborhoods. 

In October 2013, Global RE Investment Firm Colony Capital (with investors in China, England, France, Italy, Lebanon, South Korea, Spain, Taiwan, & U.S.) invested $50 million in American Coastal Properties (with Pritzker/Vlock Family):

ColonyCapital

In March 2014, American Coastal Properties purchased 714 Hampton Ave for $1.2 million. They believe that the FUTURE OF REAL ESTATE INVESTMENT in the Southern California Coastal regions over the next few years is in repositioning higher-end residential properties, as opposed to buy-to-rent flips, for which profit margins have been compressed. Finding “up-and-coming” neighborhoods with dated housing stock that can be transformed into architectural design homes or town homes (small lot subdivisions) is their basic strategy, which represents true in-fill development.

AmCoastalProps

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