Morgan Stanley Real Estate Investing, an arm of Morgan Stanley bank, acquired a $196 million loan portfolio consisting of performing, subperforming and nonperforming loans backed by residential condos, apartments, offices, industrial space and residential land, the company said Wednesday. Most of the collateral on the loans is linked to properties in California, Nevada, Washington, New Jersey and New York. MSREI bought the portfolio in partnership with Kearny Real Estate Co. Neither party disclosed terms of the transaction. “We are delighted to complete the acquisition of another portfolio of loans with Kearny Real Estate Co., one of the longest-standing operating partners of MSREI,” said John Klopp, co-chief executive officer and co-chief investment officer of MSREI. “We believe our firms’ combined expertise in portfolio acquisitions and loan resolutions make us well-positioned to maximize the value of these assets.” MSREI has acquired more than $175 billion in assets over the course of the past two decades. Write to Kerri Panchuk.
Morgan Stanley arm acquires $196 million loan portfolio
Most Popular Articles
Latest Articles
DOJ charges one of America’s top LOs in alleged mortgage fraud scheme
Christopher Gallo was charged with one count of conspiracy to commit bank fraud.
-
Top Producer Review: Features, pricing & alternatives
-
A&D Mortgage names new servicing manager
-
HUD aims to help protect communities from extreme heat
-
Freedom Mortgage founder addresses ’extraordinary’ credit profiles, profitability and products
-
Realty One Group joins growing list of firms to settle commission lawsuits