CFAH

The Lembis via San Francisco Magazine

San Francisco Magazine digs deep to tell the story of the Lembis.

Their business plan was simple: Exploit the difference between artificially low, rent-controlled rents and the sky’s-the-limit, market-rate rents they could charge when the old tenants were out and new ones took their place.

This has been the motive behind many a buyout and eviction, legal or illegal, in San Francisco and in every other city with rent control.

For the Lembis, however, it was also a strategy that made their holdings more attractive to all that practically free short-term money—hundreds of millions of dollars—flowing in from around the globe.

The full story. And our quick three link chronology.