Topics: Obamacare

Millionaire Democratic donor pal of George Soros profits from Obamacare

By |
Beltway Confidential,Opinion,Timothy P. Carney,Obamacare,George Soros

Big-money Democratic donors like to argue that, unlike rich conservative donors, their donations are not in their self-interest. This is utter hogwash, as I've shown with many donors (including top recipients of Export-Import Bank subsidies).

Today we learn a new one, thanks to the shoe-leather reporting of Lachlan Markay at the Free Beacon. Markay travelled to the Democracy Alliance meeting in Chicago and stumbled across a list of new donor-members. He analyzes many of the names, but here's one that jumped out at me:

Rick Segal, CEO of financial services firm Seavest, bundled between $250,000 and $500,000 for the president's reelection campaign, in addition to his $165,000 in political contributions since 1990.

Seavest also profits from Obamacare. Seavest has a business that invests in health-care properties. Segal's Seavestments are paying off now, thanks in part to Obamacare:

The Affordable Care Act assists real estate investors, [David Selznick, chief investment officer of Kayne Anderson Real Estate Advisors] said, because "if 60 million more people use medical services that didn't before, then you need more medical office space to service those needs."

Real estate money managers that have been investing in the sector for years are taking advantage of the trend and selling properties. In November, Seavest Healthcare Properties LLC, a real estate investment firm specializing in the medical office sector, sold the 14 properties from its first two funds to Duke Realty Corp. for $332 million. This was the largest non-real estate investment trust medical office portfolio sold in history.

Nice.

View article comments Leave a comment

More from washingtonexaminer.com