I'm intimately involved in the process of buying and developing real estate and the LLCs are typically owned by real people. not saying many parts of the system aren't rigged but I can speak to lots of multimillion dollar properties in the Boston area and I personally know the owners. not associated with the evil BlackRocks of the world. banks lending on these are often local banks. now where those banks get there money is likely tied to some of these but that's not them owning the LLC
No they're LLCs to protect the owners from personal liability claims. LLCs are registered with the state and have to disclose their directors. Complicated ownership structures just cost a lot of money to maintain, usually for no reason.
I'm intimately involved in the process of buying and developing real estate and the LLCs are typically owned by real people. not saying many parts of the system aren't rigged but I can speak to lots of multimillion dollar properties in the Boston area and I personally know the owners. not associated with the evil BlackRocks of the world. banks lending on these are often local banks. now where those banks get there money is likely tied to some of these but that's not them owning the LLC
All of these LLCs is just obfuscating who actually owns the property. Shady by design
No they're LLCs to protect the owners from personal liability claims. LLCs are registered with the state and have to disclose their directors. Complicated ownership structures just cost a lot of money to maintain, usually for no reason.