BlackRock’s $1.625 billion apartment purchase in Southern California has alarmed thousands of local renters, prompting new concerns about life under a landlord backed by one of the world’s largest investment firms.
For renters already struggling with high housing costs, the biggest fear is straightforward: higher monthly bills, as the New York Post reported.
Here’s what to know
Announced Aug. 5, the transaction covers 11 complexes with 3,620 apartments spread across Los Angeles and Orange counties, the Inland Empire, and San Diego.
By buying into several high-demand areas at once, BlackRock significantly expands its presence in the region’s rental market…