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Industrial-space showdown

Posted on 12 April 2012

Two real estate powerhouses are angling for control of a massive industrial portfolio hoping to capitalize on an expected economic recovery.
Blackstone Group for more than two years has been collecting pieces of junior debt on the 23 million square-foot portfolio, known as CalWest, aiming to take over after an anticipated June default. Meanwhile, a Morgan Stanley property fund which holds a piece of junior debt, also is jockeying for control, according to people familiar with the matter………………………………………..Full Article: Source


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