Bloomberg

The New York-based private equity firm paid $500 million for the buildings, according to a person with knowledge of the transaction.

Kayne Anderson is the third developer to try its hand at high-end New York senior living, a niche of development aimed at serving an expected boom of well-heeled elderly.

Barrack, a longtime friend of President Donald Trump and chairman of his inaugural committee, said he hired Gates in March to advise on potential investments in and around the communications industry.

After financing for the latest approach leaked in March, experts deemed it prohibitively expensive.

Rising shelter costs have accounted for most of the inflation in the U.S. during this economic expansion.

According to Special Counsel Robert Mueller, Manafort was using the properties to launder money he earned working for Ukrainian politicians.

President Donald Trump’s Treasury Department now says that’s downright unfair and wants global regulators to stop using the term when describing investment giants.

In this depressing landscape, there is at least one player still willing to take the risk: local governments hungry for tax revenues.