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The new landlord was a small Danish firm called 360 North.
新房东是一家名叫360 North的丹麦小公司。
Behind its shopfront was a giant.
这家小公司背后是巨头公司。
Blackstone had moved into Denmark, paying its operating partner 360 North to buy up apartment blocks on its behalf.
黑石集团已经进入丹麦，付钱给运营合作伙伴360 North，让其代表公司买光公寓楼。
For the tenants union, gaining an overview of exactly how many apartments Blackstone owned in Copenhagen was tricky.
对于租户工会来说，要全面了解黑石集团在哥本哈根拥有多少套公寓并不容易。
When it bought a building, it would set up an individual property company, a “PropCo”.
当这家公司买下一栋大楼时，就会成立一家独立的房地产公司“PropCo”。
Each block of apartments was owned by a different “PropCo”, which was in turn owned by a holding company, a “HoldCo”, which was in turn owned by another holding company, a “TopCo”.
每栋公寓都由不同的“PropCo”所有，而PropCo又由一家控股公司“HoldCo”所有，而“HoldCo”又由另一家控股公司“TopCo”所有。
And to make matters more complicated, that TopCo was owned by another holding company, Calder Holdco, which was based in Luxembourg.
更复杂的是，“TopCo”为另一家总部位于卢森堡的控股公司Calder Holdco所有。
This structure is a hallmark of the asset management industry.
这种结构是资产管理行业的一个特征。
“It is like a spider’s web”, Claus Hojte said of his attempts to find out which properties Blackstone ultimately owned.
克劳斯·霍杰特在谈到他试图弄清楚黑石集团终究拥有哪些房产时说：“这就像一张蜘蛛网。”
Copenhagen is a small city where outrage travels fast.
哥本哈根是一座小城，愤怒在这里迅速传播。
Soon, the media started to take an interest in tenants’ stories.
很快，媒体开始对租户的故事感兴趣。
One told Danish TV that her apartment had been soaked in rainwater after workmen removed parts of the roof, and another said cracks had started to appear in her ceiling.
其中一人告诉丹麦电视台，在工人拆除部分屋顶后，她的公寓被雨水浸透了，另一人则说她的天花板开始出现裂缝。
A TV channel broadcast a documentary called City of the Rich, which cast Blackstone as its villain.
一个电视频道播放了一部名为《富人之城》的纪录片，将黑石集团塑造为反面角色。
People suspected the motive behind the company’s disruptive renovations was to get tenants to leave so it could renovate their homes and charge new occupants higher rent.
人们怀疑该公司进行破坏性装修的动机是让租户离开，这样他们就可以翻修公寓，并向新租户收取更高的租金。
(Seppala told me over Zoom that as the company was building its portfolio in Denmark, “it became clear to us that we had to make improvements in how our local team in Copenhagen managed the properties”.)
(塞帕拉通过Zoom告诉我，随着这家公司在丹麦建立系列投资，“我们清楚地意识到，我们必须改进哥本哈根当地团队管理房产的方式”。)
360 North even offered some residents sizeable sums to vacate their properties for good.
360 North甚至向一些居民提供了相当大的一笔钱，让他们永久腾出房产。
Once the company had renovated an apartment for new tenants, it would sometimes double the rent.
一旦该公司为新租户翻修了一套公寓，有时会将租金提高一倍。
(Owing to a law introduced in the 90s, landlords that invest a certain amount in renovating old rent-controlled apartments can raise the rent when a new tenant moves in, meaning new tenants can end up paying close to the market rate for such apartments.)
(根据上世纪90年代出台的一项法律，房东如果投资一定数额翻新受租金管制的旧公寓，那么就可以在新房客入住时提高租金，这意味着新房客最终可能会支付接近市场价格的租金。)
