The Vulture Funds’ Strategy: From Mass Housing Purchase to Real Estate Harassment in the Spanish State
In the last decade, the housing market in the Spanish State has undergone a profound transformation with the massive entry of so-called investment funds, popularly known as “vulture funds.” Their strategy has consisted of acquiring entire portfolios of properties at reduced prices, taking advantage of the financial crisis and the privatization of public housing stocks. A notable example was the 2013 sale of nearly 1,900 public housing units from the Madrid City Council to the fund Blackstone, which were later resold … Read more