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Ackman to Put Gains From Luxury Apartments Into Pershing Buyback

The hedge fund manager personally holds a majority stake in Rittenhouse Hill, a luxury apartment complex thats one of the largest in Philadelphia.

The portfolio includes so-called Class B apartment buildings in U.S. states such as Texas and Washington.

Banks provided 71 percent of all construction financing in 2017, according to data from Real Capital Analytics.

Every year that passes, the more population patterns are starting to look like the old sprawling dynamic serving suburban and exurban demand.

Jim Redden in the Portland Tribune, March 21, 2018

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