Morgan Stanley Purchases Loan Portfolio for $196 Million

Morgan Stanley Real Estate has acquired a loan portfolio consisting of 45 assets with a principal balance of $196 million from on an offshore bank.

Kearny Real Estate Co. partnered with Morgan Stanley to obtain the portfolio.

The portfolio is a combination of performing, subperforming and nonperforming loans, with underlying collateral including residential condominiums, apartments, office, industrial and residential land. The majority of the properties are in California, Nevada, Washington, New Jersey and New York.

In more than two decades as a global real estate investment management company, MSREI has acquired over $175 billion of assets in 36 countries.

“We are delighted to complete the acquisition of another portfolio of loans with Kearny Real Estate Co., one of the longest-standing operating partners of MSREI,” said John Klopp, co-CEO and co-CIO of MSREI. “We believe our firms’ combined expertise in portfolio acquisitions and loan resolutions make us well-positioned to maximize the value of these assets.”