ETHICS AND REAL ESTATE INVESTMENTS: According to Lejernes Landsorganisation, (LLO, the Danish national tenants’ organization) that looks after tenants’ best interests, the issue of surging rents was a problem long before international investors, such as American private equity firm Blackstone, began to purchase and renovate apartments in order to increase rents and thereby their own earnings. Danish pension companies have practiced the same business model for years.