Morgan Stanley may drop final share of unsuccessful $6.5 billion acquisition of Crescent Real Estate Equities Co…under pressure to turn portfolio over to Barclays Capital which provided $2 billion loan for deal…Morgan Stanley also considering option of putting more capital into Crescent…


Morgan Stanley may decide to take its final lumps on its unsuccessful $6.5 billion acquisition of Crescent Real Estate Equities Co., the latest of several setbacks for the firm known as one of Wall Street’s largest property investors and managers.

Morgan Stanley already has taken about $700 million in write-downs and other losses from Crescent, which owned 54 office buildings, resorts and housing projects at the time of the firm’s 2007 top-of-the-market buyout.

Read the full article by Lingling Wei, “Morgan Stanley and Its Waning Crescent” in the Wall Street Journal, (Oct 21, 2009).

Developments featured in this article

More Like This

Facebook Chatter