Monday, August 9, 2010

Ackman Enters The Fray

Bloomberg reports Ackman jv'd to buy the senior most 3 mezz pieces from Peter Cooper/Stuy Town:
The joint venture paid $45 million for the senior-level mezzanine debt and began foreclosure proceedings on the property, the companies said today in a statement. Pershing Square, based in New York, owns 77.5 percent of the venture.

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