May 13 Fortress Investment Group LLC is
considering making a $4.7 billion bid for Stuyvesant Town-Peter
Cooper Village, a Manhattan apartment complex, Bloomberg
reported, citing a person familiar with the matter.
The New York-based private-equity firm is seeking financing
for the bid and a deal would involve bringing in equity partners
to contribute cash, the person said. (r.reuters.com/nun39v)
CWCapital Asset Management LLC, a special servicer
representing bondholders, took control of the complex in 2010
after its owners missed a debt payment.
MetLife sold the complex in 2007 for a record $5.4 billion
to a group led by Tishman Speyer Properties LP and a real estate
unit of BlackRock Inc.
Barclays Plc estimated in a May 2 report that the property
could fetch $4 billion to $4.3 billion in a sale, which would
result in zero losses to bondholders, the Bloomberg report said.
Fortress and CWCapital could not be immediately reached for
(Reporting by Mridhula Raghavan in Bangalore; Editing by Sriraj