Didn't a hedge fund in the US crash and burn doing something like this?
Anyway, via Nikkei:
- Goldman Sachs will partner with trading house Sojitz to buy and renovate older apartments that may otherwise go under the radar for property investors.
- They will form a joint venture by summer, targeting rental housing in major Japanese cities. Improved properties will be sold in batches to financial institutions and investment funds. The partners look to invest 40 billion to 50 billion yen ($323 million to $405 million) a year in the business.
Link here to the Nikkei for more.
The GS CEO is a DJ, now the firm is house flipping. What other reality TV shows will act as the next inspiration?
