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Report: Russian oligarch's fortune helped finance apartment complex near LSU

1 year 10 months 2 weeks ago Wednesday, April 06 2022 Apr 6, 2022 April 06, 2022 2:43 PM April 06, 2022 in News
Source: Bloomberg

BATON ROUGE - Viktor Vekselberg, a Russian oligarch and billionaire with close ties to Vladimir Putin, invested some of his fortune into an apartment complex just off LSU's campus, according to Bloomberg.

The U.S. sanctioned Vekselberg following the Russian invasion of Ukraine in February. His investment in Arlington Cottages and Townhomes was made in 2016, before further sanctions were put in place.

Arlington is a 732-bed complex and has the "largest pool in the area," according to its website.

The report did not say just how much of Vekselberg's money was invested in the Baton Rouge apartment complex, but a spokesperson for Coastal Ridge Real Estate Partners said he was “indirectly a minority investor in this property."

Vekselberg's investment in the complex was valued at much less than his 256-foot yacht that was seized in Spanish waters on Monday. However, it still brings to attention the odd places where sanctioned Russian money can appear in the U.S.

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