chipc3

Robert Pera Buying Homes

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The Wall Street Journal ran an article about Grizzlies owner Robert Pera buying homes all over the country including Seattle, New York and a mansion he is building in Miami.

Quote

Robert J. Pera, an under-the-radar, 42-year-old tech billionaire who owns the NBA’s Memphis Grizzlies, has been steadily adding real estate to his asset portfolio.

Over the past four years, the youthful founder of wireless equipment maker Ubiquiti Networks has pieced together a collection of properties across the country, including at least four for a combined roughly $70 million. He has purchased in some of the most expensive and exclusive buildings in both New York and Seattle, and is building a brand-new mansion on a highly exclusive island in Miami Beach, according to public records and people familiar with his dealings.

 

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45 minutes ago, IdrinkGuinness said:

Looking at ubiquity stock price im sure he can afford to diversify lol .

Definitely. I would just like to see him buying some real estate in Memphis as well. 

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Funny thing is, in my 1 on 1 with my manager, he was discussing setting up his own home network and that he had cameras called Unifi and I looked it up and it's Ubiquiti Networks Unifi on Amazon. Had no idea you could buy his products for the home. Thought it was all networking stuff for businesses and government. 

 

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2 hours ago, IdrinkGuinness said:

Ubiquiti is awesome stuff .

Yeah, my manager gave it good reviews. When I explained to him that Pera owned the Grizzzlies. He replied that that explains why one of the cases studies on the company was at FedExForum. 

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2 hours ago, chipc3 said:

Definitely. I would just like to see him buying some real estate in Memphis as well. 

If he's just investing it makes sense to buy high scale properties in big coastal cities. It's where the prices will swing back up the fastest once the economy recovers.

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8 minutes ago, fanboyslim said:

If he's just investing it makes sense to buy high scale properties in big coastal cities. It's where the prices will swing back up the fastest once the economy recovers.

Well, prices never really went down. They've been consistently going up this year but yeah, he would definitely get a greater return on the coast than in Memphis.

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Gotta make that money 

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seattle  Seattle SUPER  Grizzlies 

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1 hour ago, cdp said:

It's a billionaire buying real estate. Wouldn't read much into it 

Parking money.

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