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Small Business Owner: How Covid crippled us but made bank for Blackstone

PHOTO: Ward and Smith

By David Haggith | 8 May 2022

DOLLAR COLLAPSE — One business owner explains the damage Covid restrictions did to his business and how mega-corporations providing the same service faired far better under government support. The most-cheated of all are hundreds of thousands of college students receiving an inferior education at a greater cost even as colleges also receive extra money from the government:

by Patrick Nelson on Publius:

The government response to the Covid-19 pandemic was rough on most of the nation’s seven million businesses. Each year 600,000 businesses close their doors, and in the first year of the lockdown this increased by an extra 200,000 casualties.

Some of us struggled more than others to survive. My business, college student housing, took an especially hard hit. In the Covid crash, campuses shut down, millions of students left school for home, and everyone switched to online classes.

This hurt incoming rent revenues at my privately owned firm, Nelson Partners. We are a small player in the off-campus market, which encompasses 4,500 apartment buildings nationwide. We manage 23 investor-owned buildings, worth $900 million, in 13 states.

The biggest player, publicly held American Campus Communities, just got  by Blackstone for $12.8 billion. ACC owns 166 buildings in 71 college towns. […]

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