Excerpts: Morgan Stanley Property Fund Faces $5.4 Billion Loss
- Morgan Stanley has told investors in its $8.8 billion real-estate fund that it may lose nearly two-thirds of its money from bum property investments, according to fund documents reviewed by The Wall Street Journal.
- That would likely make it the biggest dollar loss–$5.4 billion–in the history of private equity real-estate investing.
Source: Wall Street Journal