The VC buying up prized real estate in SF says not to ‘listen to agitators’

The VC buying up prized real estate in SF says not to ‘listen to agitators’


VC Neil Mehta, the Greenoaks Capital co-founder tied to a growing number of building purchases across several blocks of San Francisco’s once-glittering Fillmore Street, defended himself on Monday via an op-ed in The San Francisco Standard, saying the moves are solely about revitalizing a “city that has given me more than I could ever give back to it.” 

The piece aims to push back at local politicians, including SF Supervisor Aaron Peskin, who recently held a rally on the shop-lined street, telling onlookers and reporters that Mehta’s buying spree will displace longtime small businesses. (Peskin is also running for mayor currently.)

Mehta – who definitely underestimated the blowback from the purchases – further argues that he’s not looking to make a fast buck on the real estate holdings. They’re being purchased via a real estate fund that he backs through a nonprofit to which he (alone) has donated $100 million. As such, writes Mehta, he has  “zero financial interest in these properties,” “will receive nothing in return,” and any proceeds will be “reinvested in the community.”



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