|It's Brittany, Bitch | Ερις (eristic) wrote in paxletale,|
@ 2017-03-20 08:16:00
publicly published on the TMZ website - RETRACTED
|Local real estate magnate revealed for shady business practices|
By Brittany Bernard, TMZ
NEWPORT BEACH, California — A local real estate developer has built his business on the backs of his would-be tenants, both those who already live in the properties he purchases and those who he lures in to reside in his renovated buildings.
Obed Brandt, of Mendocino County, has been a Los Angeles resident for 21 years, and for a good number of those he has dealt in shady practices. If he's not purchasing foreclosed houses and hiking up the price to resell a family's home with their possessions still inside, he's attempting to push the elderly out of apartment complexes after they refuse to sell by allowing construction teams to disrupt their lives.
In one particular scenario, Brandt's business purchased the Cabinet Project, a warehouse downtown meant to be renovated into condos. Rather than do the smart thing and wait for the property to be fully completed, he allowed agents to woo buyers into investing in the property and purchasing unfinished units with their hard earned money. It wasn't long after this that the project suddenly ran out of funds, investors dropping off like flies, leaving those who had purchased units holding the bag for dwellings that were unlivable!
In another, Brandt was responsible for the development of a senior citizen facility near Griffith Park; when the property eventually overspent its budget, it mysteriously went ablaze. Property ID Insurance supplied that Brandt's company received a hefty payout for what was suspected arson.
These are just a few items on a long list of unacceptable business practices. Why has no-one thought to bring this to light?
Because Brandt's investors are large, including OSM and PropFund, both of which are global corporations. What is one man trying to feed his family going to do or say when to do so is to pelt a stone at Goliath? Someone needs to stand up to this selfish giant and get him to stop destroying and gentrifying our homes before it's too late.
Mr. Brandt's latest connection is with the Pax Letale building in Newport Beach, but it's unclear if he is working to develop it or something else.
Brandt, who can often be seen in the company of his 10-years-younger fiancée Isobel St. Germaine, had nothing to say when asked to comment for this piece. It goes without saying that it's unsurprising that he'd have nothing to say in his own defense, when there's little to even claim.