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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: longnshort who wrote (29254)	4/14/2010 3:49:42 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 103300

Morgan Stanley (MS) has told investors that its $8.8B real estate fund may lose nearly two-thirds of its value because of bad investments. Over the last 20 years, Morgan Stanley's real estate unit has been one of the largest buyers of global property, and the $5.4B loss would be the largest in the history of private-equity real estate investing. online.wsj.com FRANKFURT EUROTOWER: Morgan Stanley projects losses of 90% on the fund's $77 million investment in the Eurotower, which is the headquarters of the European Central Bank HILTON IN STRASBOURG: The fund is handing back an $800 million portfolio of European hotels—including Hiltons in Strasbourg, France; Barcelona; and Dresden, Germany—to lender Barclays Capital. SEOUL SQUARE: The $8.8 billion Msref VI International fund expects to lose its $350 million investment in Seoul Square. The $1 billion purchase price in 2007 was the most ever paid for a Seoul office building.