Morgan Stanley and Inland Form Billion Dollar REIT
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Morgan Stanley and Inland Western Retail Real Estate Trust are teaming together to form a billion dollar fund to invest in shopping centers across the country. The REIT is aimed at upscale retail centers that are experiencing increasing rents and valuations. The open air shopping centers are some of the best performing real estate in the United States.
The group will acquire and manage high-quality neighborhood, community and outdoor shopping centers, Oak Brook-based Inland Western said in a statement.
Inland Western will contribute properties valued at up to $500 million to start the venture and the partners will spend another $500 million to buy and redevelop properties. An unidentified pension fund client of Morgan Stanley’s will provide 80 percent of the equity capital and Inland Western the remaining 20 percent. via Daily Herald
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Comment by Colorado Real Estate on 28 April 2007:
Thank You for the Information