Morgan Stanley Real-Estate Fund Said Likely to Win New Deadline
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Morgan Stanley’s $4.7 billion real-estate fund, known as MSREF VII, will probably win approval to extend the deadline for finding new investments into 2013, a person familiar with the discussions said.
Investors in Morgan Stanley Real Estate Fund VII have indicated they will allow the New York-based company to approve extending by one year the June 2012 deadline in exchange for lower management fees and a $700 million reduction in its size, according to the person, who declined to be named because the talks are private.