Morgan Stanley Loses $5.4B in Real Estate Fund - Biggest Loss in History

Wed, 04/14/2010 - 02:59 EDT  in
 

Econophile submits: Here's a story for the decade. Morgan Stanley's (MS) Msref VI, an $8.8 billion real estate fund, lost $5.4 billion, the biggest loss in the history of private real estate equity investing. This story is from the Wall Street Journal and it is worth a read. It isn't clear from the article, but they bought many of their properties in 2007. I don't have to tell you how insane of a move that was when the U.S. housing market was collapsing. One of their big misses was the Eurotower in Franfurt which, ironically, is the home of the European Central Bank.Complete Story »

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