Proposal to Offer 50% of Stuyvesant Stake to Tenants
NEW YORK CITY-A creditor group comprising Winthrop Realty Trust and Pershing Square Capital Management is fighting for control over Stuyvesant Town and Peter Cooper Village, a Manhattan apartment complex against a group of creditors.
By GlobeSt News Hub|September 14, 2010 at 01:01 AM
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NEW YORK CITY-A creditor group comprising Winthrop Realty Trust and Pershing Square Capital Management is fighting for control over Stuyvesant Town and Peter Cooper Village apartment complex against another group of creditors.
Both groups are looking to foreclose the property and gain control over the 11,200-unit complex. The Pershing Square-led team approached the tenants’ association in the previous week with a new plan to include the association as an equal partner in the property with a 50% stake. For the full story, go to The Wall Street Journal.
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