Deals
Ackman Group Exits StuyTown With $45 Million Intact
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A joint venture led by Bill Ackman was able to do what the state of California, the Church of England and Tishman Speyer Properties LP were not: get back its investment in Manhattan’s Stuyvesant Town-Peter Cooper Village.
Ackman and Winthrop Realty Trust sold the junior debt they jointly held on the 80-acre (32-hectare) apartment complex to affiliates of CWCapital Asset Management LLC, which represents senior lenders to the property, Boston-based Winthrop said in a statement yesterday.