Part 1/10:
The Financial Turmoil of San Francisco's Former Biggest Landlord
San Francisco, once a booming hub of commercial and residential real estate, is witnessing a dramatic downturn. The city’s former largest landlord, Varius Investments, is now in financial distress, defaulting on over $1 billion in debt. Amidst these challenges, the company is attempting to sell off a staggering portfolio of 762 rent-controlled apartments. This situation poses an array of questions about the future of real estate in a city increasingly characterized by its unique challenges—especially as businesses continue to close, including iconic stores like Macy's and Walgreens.