i_am_the_swammi Posted April 19, 2010 Share Posted April 19, 2010 I warned folks about some big hotel portfolios going under...Extended-stay America was the first real big one, and there will be a bunch of others like the one below in the months ahead. This market is no where near out of the woods: Morgan Stanley Fund Returning Hotels To Lender Posted Today - 9:27:39 AM NEW YORK—A Morgan Stanley Real Estate Fund is giving an $800 million portfolio of 10 European hotels back to the lender, Barclays Capital. Among the 10 properties are Hilton hotels in Dresden, Germany; Barcelona, Spain; and Strasbourg, France. According toThe Wall Street Journal, the $8.8 billion Morgan Stanley Real Estate Fund VI has lost two thirds of its value in the past two years due to the poor economy and bad investments. Quote Link to comment Share on other sites More sharing options...
Big John Posted April 19, 2010 Share Posted April 19, 2010 I first read it as Stanley Morgan of the Patriots getting hit. Quote Link to comment Share on other sites More sharing options...
BeeR Posted April 20, 2010 Share Posted April 20, 2010 lol and whew I wasn't the only one. I expected to hear something about him and Grogan in a bizarro geriatric cage match. Quote Link to comment Share on other sites More sharing options...
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