Home News 12 mega landlords own majority of the San Francisco Bay Area

12 mega landlords own majority of the San Francisco Bay Area

by admin
0 comment

Over the past few decades, the San Francisco Bay Area, known as a hub for diverse, progressive, and free-thinking minds, has seen an influx of transplants employed to build the future of technology. The rise of Silicon Valley and its innovation has come at the cost of eradicating the soul of America’s anti-capitalist capital, as well as affordable rents in metropolitan areas.

As former and current residents direct their frustrations at gentrification and outsiders, San Francisco Chronicle Map 12 power players who own the majority of real estate in the area.

After a year of culling 2.3 million unique records with the help of machine learning and good old journalism, Chronicle is created map It highlights real estate ownership in nine Bay Area counties: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma.

Our network of property owners includes Veritas Investments, Invitation Homes, Michael Marr, Greystar, Woodmont/Tad Taube, Equity Residential, John Vidovich, Neill Sullivan/REO Homes, Essex, UDR Inc., Tricon Residential, AvalonBay, Ardenbrook/Ardenwood. It is included. They have become the antithesis of the Bay Area community and have been sued by residents alleging abuse and cheating.

Here’s what we learned from the report:

  • Veritas Investment. With 293 buildings in San Francisco, Veritas is the Bay Area’s largest real estate owner. According to the report, “Veritas Investments says it operates thousands of apartments, but not one whose name appeared on Bay Area County property ownership records as of mid-2021.” Veritas’ business model relies on working with investors to purchase rental properties and manage tenants. His over 200 investor LLCs associated with Veritas offices are registered with CEO Yat-Pang Au and his family.
  • Michael Ma. One of the East Bay’s largest private landlords, Ma has made a name for himself in the real estate industry by buying and reselling homes. Maher was so successful that he came to the attention of the government, and in 2011 he had the FBI raid his office, and six years later he was in prison. “According to the U.S. Department of Justice, Ma secretly agreed with other bidders not to compete with each other in public auctions, and had members of the group purchase properties at artificially low prices in public auctions, and then bid for a second bid, according to the Department of Justice. held his auction privately.” Chronicle’reports say. Marr was released in 2020.
  • Greystar Real Estate Partner. The subject of 200 federal lawsuits over the past 26 years, Greyster is the bane of not just Bay Area renters’ presence, but renters nationwide. Greystar, an international real estate company, is the largest real estate management group in the United States with approximately 750,000 multifamily homes. Greyster became a notorious landlord villain when he demolished a 216-unit rent-controlled complex in Silicon Valley to build a one-bedroom unit starting at $3,299 a month.

You may also like