A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone (BX.N) and other in
The $4.2 billion MSREF V real estate fund missed its April 15 deadline to repay 278 billion yen($3.3 billion) vestors, the largest repayment failure of its kind in Japan.
The refinanced debt was sold in six different tranches by Morgan Stanley to investors.
Now comes the question on WHY Morgan Stanley did this?'
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Why did Morgam Stanley give the keys back?
ReplyDeleteWho, who really wants to invest in a toxic liability?
From videos I have seen, Japan is in a serious dilemma, so Morgan Stanley have 'cut and run'.
This is extremely obvious to me.
Radiation poisoning everywhere and Fukushima Daiichi plant meltdown imminent, food unsafe to eat, earth tremors and liquefaction with some areas possibly sinking into the sea/ocean eventually and a number of other issues as a knock on effect of the earthquake, Tsunami and nuclear meltdown. Of course this will also have a direct effect on America in many ways....
I think Japan should be evacuated now before more people die....that's just my opinion, of course.