Nov. 9 (Bloomberg) -- Tishman Speyer Properties LP and BlackRock Realty, the owners of Manhattan’s Stuyvesant Town- Peter Cooper Village, moved closer to restructuring $3 billion in debt on the apartment complex as the property verges on default, Fitch Ratings said.Stuyvesant Town’s worth has plunged to $1.8 billion, according to Fitch. This means that all the investors besides the senior bondholders are probably wiped out.
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GIC Faces 1/2 billion Losses On "Mezzanine Loan" To Manhattan Apartment Complex - The Wall Street Journal
