NEW YORK, Jan 25 (Reuters) - A group led by Tishman Speyer Properties LP is giving up control of the Stuyvesant Town and Peter Cooper Village apartment complex in Manhattan to creditors, marking the collapse of one of the largest transactions during the U.S. real estate boom.The decision came after a joint venture headed by Tishman and a unit of BlackRock Inc (BLK.N) defaulted this month on $4.4 billion of debt used to finance the purchase of the 11,200-apartment property. Full Story
Related:
Tishman Speyer’s Stuyvesant Town Going Back To The "Banks" - SocketSite.com
Tishman Venture Gives Up Stuyvesant Project - The Wall Street Journal
Tishman to Hand Over Stuyvesant Town to Its Lenders - BusinessWeek
Tishman Speyer and BlackRock Give Stuyvesant Town and Peter Cooper Village to Creditors - NYMag.com
Tishman, BlackRock Quit Huge NYC Housing Complex - The New York Times
Control of Stuyvesant Takes Center Stage - The Wall Street Journal
