Giant Landlord Abruptly Exits Leaving East Palo Alto Tenants in Danger

On September 9, the San Mateo County Superior Court appointed a receiver for Page Mill Properties 1800-unit East Palo Alto apartment portfolio after the giant landlord abandoned their property management duties and offices last week. East Palo Alto's biggest landlord missed a $50 million balloon payment to their bank last month prompting Wells Fargo to seek a temporary restraining order barring Page Mill from collecting further rents and destroying any books relating to the properties.

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