Morgan Stanley real estate fund likely to lose $5.4 billion

04/14/2010 | Wall Street Journal, The

A Morgan Stanley $8.8 billion property fund could be facing losses as high as $5.4 billion because of souring investments, according to fund documents. If the worst-case scenario materializes, it would be the biggest dollar loss posted by a private-equity real estate fund. Investments dragging down the fund include the European Central Bank's headquarters building in Frankfurt, a development project in Tokyo and InterContinental hotels in Europe.

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Wall Street Journal, The

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