The 1980s called. They asked for their investment strategies back. In July, an affiliate of prominent New York-based real estate investment firm Benchmark Real Estate Group raised money through a vehicle known as a blank check company. The Benchmark entity, Property Solutions Acquisition, raised $200 million by selling shares of a shell corporation to private and public investors. Such an entity — also called a special-purpose acquisition company, or SPAC — has no underlying assets.
source https://therealdeal.com/2020/08/04/blank-check-companies-make-a-comeback-in-real-estate/
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