With home values sinking, buyers rushed to withdraw cash from a true estate fund managed by non-public equity huge Blackstone previous thirty day period. But the fund quickly uncovered a savior in the Golden Condition: The University of California poured in $4 billion even as other investors fled.
University officers mentioned they thought the privately negotiated offer would deliver gains and gains for the college method, college students and workforce for yrs.
UC workers and housing advocates dispute that. They place out that the fund has been obtaining up households and flats in California and other states, which they say