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Month: April 2020

Pension fund money is getting tangled in some controversial housing deals

(Illustration by Sebastien Thibault) Madison Realty Capital, a private real estate investment firm heavily backed by public pension money, has been stuck with a nearly half-empty rental portfolio in Manhattan’s East Village. When the New York-based firm financed controversial landlord Raphael Toledano’s purchase of the 16 buildings in 2015, critics called the deal overleveraged. Madison…

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