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King Jorge Learned His Lesson

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Remember when not even the mighty Related Group and its King Jorge Perez was immune to the worst ravages of the Great Recession, somehow finding themselves with $1.5 billion in debt and scores of near-empty condo buildings on their hands? Well, it's good to be King, particularly when you've learned your lesson and remolded your empire to be far more agile and diversified in its portfolio than ever before. Related is reinvesting in their affordable housing division and multifamily division, and they're jumping into new arenas of construction, like retail and entertainment, hedging their bets just in case of an unknown future of economic calamity. Long live King Jorge. [Daily Business Review]