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Lender Seizes Hotels From Morgan Stanley

Jan 10, 2011 8:13 AM

From Bloomberg:
Takeback Includes Eight Luxury Resorts
A lender group including Paulson & Co., the New York-based hedge fund run by John Paulson, seized control of former CNL Hotels & Resorts Inc. properties from Morgan Stanley’s real estate funds through a $600 million debt restructuring, said two people with knowledge of the deal. The transaction involves the corporate debt used to finance Morgan Stanley’s 2007 acquisition of the hotel owner near the peak of the real estate market. Click here for the full story.

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