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To: Cheetahcat

bought the Shinagawa property for 140 billion yen in 2004 from Mitsubishi Corp and Mitsubishi Motors . The building now houses Microsoft’s Japan offices among other tenants.

Morgan Stanley repackaged the loans into 125 billion yen worth of CMBS in 2005, according to a website for Morgan Stanley.

Taking advantage of a run-up in property prices, MSREF V refinanced its debt on the Shinagawa property in 2007 with new debt worth 278 billion yen, twice the value of its purchase and likely yielding a tidy profit for the fund.

The refinanced debt was sold in six different tranches by Morgan Stanley to investors.


9 posted on 04/15/2011 6:24:58 PM PDT by Leisler (Our debts are someone's profit. Follow the money, the vig.....)
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To: Leisler

“bought the Shinagawa property for 140 billion yen in 2004 from Mitsubishi Corp and Mitsubishi Motors . The building now houses Microsoft’s Japan offices among other tenants.

Morgan Stanley repackaged the loans into 125 billion yen worth of CMBS in 2005, according to a website for Morgan Stanley.

Taking advantage of a run-up in property prices, MSREF V refinanced its debt on the Shinagawa property in 2007 with new debt worth 278 billion yen, twice the value of its purchase and likely yielding a tidy profit for the fund.

The refinanced debt was sold in six different tranches by Morgan Stanley to investors.”

So they can mail in the keys and walk away making a nice profit.


10 posted on 04/15/2011 6:29:33 PM PDT by Cheetahcat ( November 4 2008 ,A date which will live in Infamy.)
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