Morgan Stanley Real Estate Investing has bought a $196 million loan portfolio with 45 assets from an offshore bank. The lender partnered with California-based Kearny Real Estate for the acquisition. The financial terms of the deal were not disclosed.
The portfolio is made up of performing, sub-performing and non-performing loans, backed by condominiums, apartments, office, industrial and residential land in California, Nevada, Washington, New Jersey and New York.
Click here for the release from Business Wire.