California students are getting slammed with college bills topping $50,000 a year — while the University of California system is dropping nearly $200 million on a luxury hotel overlooking the Pacific Ocean.
UC Investments, the university system’s investment arm, has purchased the Ritz-Carlton in Half Moon Bay for a whopping $193 million, according to a report by Coastside News .
The 261-room coastal resort will join UC Investments’ portfolio, which is valued at more than $300 billion and helps fund retirement benefits and pensions for roughly 40,000 university retirees.
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The Ritz-Carlton Hotel stands in Half Moon Bay. The University of California’s investment arm purchased the property for $193 million. Marriott Bonvoy
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The Ritz-Carlton Hotel stands in Half Moon Bay. The University of California’s investment arm purchased the property for $193 million. Marriott Bonvoy
UC ...