PE's Calif. Multifamily Chase Fueling 'Champagne Bubbles'

By Andrew McIntyre (August 21, 2014, 4:04 PM EDT) -- Private equity partners are buying spates of California multifamily properties, not necessarily out of desire for the property but because funds are telling them to spend money there, creating a frenzied timeline for due diligence and contract negotiations and the potential for a bubble, lawyers say.

Multifamily is viewed as one of the safer real estate investments by private equity, and lawyers say all the big private equity firms that buy real estate are aggressively looking for multifamily deals up and down the Golden State, from San Francisco and the Silicon Valley, to Los Angeles and Orange County.

Although lawyers stopped...

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