Cases & Deals

Morgan Stanley sells five non-performing loan portfolios

Clients Morgan Stanley International Real Estate Funds

Jones Day assisted Morgan Stanley Real Estate Fund III, part of the Morgan Stanley International Real Estate Funds, with the €918.5 million sale of five non-performing loan portfolios to a joint venture between Calyon SA and Pirelli Real Estate. Contemporaneously with the sale, Jones Day assisted the client in the amicable termination of the related joint venture arrangements with Pirelli.