Blackstone Inc., the American real estate giant that announced plans to expand its Canadian operations last month, says it intends to expand its portfolio of Canadian assets “significantly” in the coming years, with a focus on industrial space, multi-family rentals and student housing.
To date, Blackstone owns roughly 450 properties in Canada — mostly warehouses and industrial space, along with a few office towers. Janice Lin, a former Canadian Pension Plan Investment Board executive who was tapped to helm Blackstone’s Canadian arm, said the company also has a particular interest in purpose-built student housing in smaller urban markets, citing Kingston — home to Queen’s University — as an example.
One type of real estate the company is not investing in, Meghji said, is Canadian single-family homes.for buying up single-family homes and transforming them into rental properties, a tactic critics say is exacerbating an affordability crisis in Canada.
Source: Education Headlines (educationheadlines.net)
*pokes with stick* Do something.
The word is out that the liberal_party and some in the CPC_HQ plan to bring in 63 MILLION immigrants by 2100. It's called the Century Initiative CI2100 and it will destroy Canada. Get out while you can.
AndreaMicieli Absolutely terrifying news.
Canada should ban foreign investors or ownership of Canadian property
Who could have predicted that once the artificially inflated housing bubble crashes that Blackstone would come in a scoop up properties that people are going to default on. 🤦
Deregulation of economy that started with Reagan/Teacher evil partnership (neo/liberal/privatize everything capital) has done all the damage to reg ppl we see in the world. Here is an example; let's squeeze the students now. Stop them or they will reduce all to serfs.
Can't believe that manifest destiny is going to be completed by a hedge fund.
To anyone upset by this, remember that the best way to screw Blackstone and other investors is to flood the market with multi-family housing.
You might have seem tweets about the evil of Neo/Liberal/Globalized Capital(ism) and how it brought us here where we are, with all the crisis for mot and unimaginable wealth for few. Here is an example of its protagonist in action. Global Co into you cntry for max profit/greed.
If a private equity sees an opportunity, the municipal government needs to set boundaries and regulate it. Use the opportunity to create affordable housing with a Singapore like system.
Blackstone is basically a terrorist organization at this point
Black stone is everything wrong with the corporate world and should be barred from doing business in Canada.
Housing shouldn’t be for profit. We need municipalities to step up and build more housing themselves like they used to do
These corporate vultures should be banned.
How about instead of fluff pieces about the companies that have at least a hand in our current housing crises You actually report on the effects they are having These fluff pieces feel like they are trying to preempt something
Making homes more affordable for regular folks. Sure doesn't look that way.
You will own nothing, and you will be happy.
Great, as if rental prices aren't through the roof yet.
'Real estate investor' just means corporate hoarder that will squeeze every penny out of it's tennants. Screw these corporate shills and invest in Government backed low income housing for a change so we can get some real progress made.
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