August 7, 2025 Breaking News, Latest News, and Videos

Housing Advocates Rally Outside Private Equity Company Blackstone In Santa Monica:

Dressed in bright shirts and waving picket signs, a group of housing advocates held a rally Tuesday morning in Santa Monica outside the offices of private equity company Blackstone.

The group was made up of mainly South Los Angeles residents outside 1299 Ocean Ave., protesting the alleged selling of properties in their neighborhood to Wall Street hedge funds and private equity firms.

Members from the Los Angeles branch of Alliance of California Community Empowerment, or ACCE for short, were behind the rally.

ACCE is a multi-racial, democratic, non-profit community organization building power in low to moderate-income neighborhoods to stand and fight for social, economic, and racial justice.

The group arrived at Blackstone’s offices at 11:30 am wearing bright yellow shirts and cartoony signs with clever protest slogans. Among the group was ACCE member Gisele Mata, along with her young son and other homeowners and supporters of the cause from all walks of life, from college students to geriatrics.

But they weren’t there for a protest. They were there to deliver a letter, urging Blackstone and companies similar to them to “be good neighbors” and “work to preserve homeownership and provide quality, affordable rental housing.”

“We are very concerned about how you and your related organizations manage rental units and handle delinquent mortgages,” the letter read. “Our communities have been tremendously harmed by the housing crisis, and we are working to rebuild. We need companies like yours to be good neighbors and work to preserve homeownership and provide quality, affordable rental housing.”

To date, your record is not good, the letter continued.

“We’d like to meet with you to discuss these issues,” it concluded before providing contact information.

However, delivering the letter proved to be a challenge, as the security guard stopped them at the front door. After a few minutes of haggling back and forth to get the guard to deliver their envelope, they gave up. Knowing that the guard would probably not actually deliver the letter, they decided to take to the streets with their signs.

Mata said homeowners in their South Los Angeles community have been devastated by Blackstone buying up properties.

She said the company has purchased pools of mortgages from the U.S. Department of Home and Urban Development (HUD) and Federal Housing Administration (FHA).

“These pools are then flipped for profit,” Mata said. “No consideration is being given to the current homeowner.”

In the United States, the firm has become the largest owner of single-family rental homes in the country.

One of the members at the rally held a map showing all of the properties that Blackstone and companies like it had control over.

Much like a teenager’s face at the height of puberty, it was covered in red dots.

“They are scooping up large portions of LA County and surrounding cities,” Mata said. “We feel that this is irresponsible of our government to continue to sell the American dream out. We want responsible landlords.”

Ultimately, protests are slated to continue.

Blackstone’s Santa Monica office declined to comment on the rally.

in News
<>Related Posts

‘Dad Bod’ Contest Comes to Venice Restaurant This Weekend

August 7, 2025

August 7, 2025

The competition will unfold over three themed rounds: a beachwear walk, a tongue-in-cheek “talent show,” and a final flex-off judged...

City Preps for Return of SaMoHi, Pali High Students by Boosting Safety

August 7, 2025

August 7, 2025

Efforts to ensure student safety include reactivating school crossing guards, completing pedestrian safety upgrades, and promoting free public transit As...

Hot Dog on a Stick and Santa Monica Brew Works Team Up for Santa Monica’s Dog Days of Summer

August 7, 2025

August 7, 2025

Dog-Friendly Event in Santa Monica Supports Local Rescue Group  Santa Monica’s four-legged residents will get their day in the sun...

Santa Monica’s ICARUS AI Launches Global Grant Initiative, Empowering 5,000 Lives Through Education

August 6, 2025

August 6, 2025

SANTA MONICA, CA – ICARUS AI https://icarus.education/ a local Artificial Intelligence and education technology company, headquartered right here in Santa...

Santa Monica’s Chez Jay Celebrates 66 Years with Retro Bash by the Beach

August 6, 2025

August 6, 2025

Landmark Restaurant Celebrates With Classic Cars, Live Music, Celebrity Lore One of Los Angeles County’s most storied restaurants will mark...

Swiss Firm Partners with California Startup to Aid Wildfire Recovery With AI Robots

August 6, 2025

August 6, 2025

The robotic microfactories are designed to fabricate structural wall panels on-site with high precision, aiming to speed up the construction...

Film Review: Weapons

August 6, 2025

August 6, 2025

By Dolores Quintana You might be asking yourself what the film Weapons is about. Not to worry, writer and director...

Trial Date Set for Alleged ‘Ketamine Queen’ in Matthew Perry’s Death

August 5, 2025

August 5, 2025

Woman Accused in Matthew Perry’s Overdose to Face Jury The woman accused of supplying the fatal dose of ketamine that...

Santa Monica to Enter Mediation Over Ebony Beach Club Land Seizure

August 5, 2025

August 5, 2025

The decision follows a year-long investigation into White’s efforts to open the Ebony Beach Club—a nonprofit intended to provide a...

(Video) Palisades Rec Center Completes Construction of First Responder-Themed Playground

August 5, 2025

August 5, 2025

The new playground–which replaces a near-40-year-old one–was made with funds largely generated by the FireAid Benefit Concert. Palisades Rec Center...

Santa Monica Animal Shelter Waives Adoption Fees to Ease Shelter Surge

August 5, 2025

August 5, 2025

Overcrowded Shelter Needs Homes for Cats and Dogs Amid an unprecedented surge in intakes, the Santa Monica Animal Shelter has...

Elvis Meets Oedipus at the Getty Villa in Fall Premiere of Oedipus the King, Mama!

August 4, 2025

August 4, 2025

Getty Villa Stages Rock-Fueled Oedipus Satire Under the Stars The Getty Villa Museum will bring the myth of Oedipus to...

Retail and Dining Could be Coming to RAND’s Santa Monica Headquarters

August 4, 2025

August 4, 2025

The changes aim to revitalize the underutilized property, which has seen reduced occupancy due to post-pandemic hybrid work trends The...

(Video) Festival of Chariots Transforms Venice Beach Into a Showcase of Indian Culture

August 4, 2025

August 4, 2025

First held in Los Angeles in 1976, the festival draws inspiration from the ancient Jagannath Puri festival in India Festival...

Side-by-Side Beachfront Homes in Santa Monica  Hit Market for $23M Each

August 4, 2025

August 4, 2025

Designed with minimalist luxury, the residences showcase floor-to-ceiling glass walls and views of the Pacific Ocean Two modern beachfront homes,...