The portfolio was acquired in partnership with Kearny Real Estate Company.
According to Morgan Stanley, the loan portfolio comprises a combination of performing, sub-performing and non-performing loans, with underlying collateral including residential condominiums, apartments, office, industrial and residential land primarily in California, Nevada, Washington, New Jersey and New York.
MSREI co-CEO and co-chief investment officer John Klopp said they are delighted to complete the acquisition of another portfolio of loans with Kearny Real Estate Company, one of the longest-standing operating partners 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," Klopp said.
Terms of the transaction were not disclosed.
