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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

GIC’s Manhattan investment being given up to lenders

Posted on 26 January 2010

From Asiaone.com: A vast prime Manhattan property that has caused losses to investor, the Government of Singapore Investment Corporation (GIC), is having its ownership transferred to creditors - possibly including GIC.

The Stuyvesant Town and Peter Cooper Village apartment complexes will be given up by troubled owners Tishman Speyer Properties and BlackRock Realty after loan restructuring talks failed………………….Full Article: Source

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