Asked by Infinity Realty Network, Saratoga, CA • Tue Dec 11, 2007
I guess ill ask this again i guess all those on trulia are not much for watching the Market, as i asked this and received no response.
Morgan Stanley buys Billion dollar portfolio from Lennar Homes.
"The portfolio originally valued at $1.3 billion will be sold to a joint venture for just $525 million. Morgan Stanley will have an 80% stake in the "joint venture" with Lennar retaining a 20% stake. The properties in question consisted of a collection of raw undeveloped land, partially developed homesites and finished homes."
What does this purchase have to do with the Market? Me myself if The big Boys like Morgan stanley are stepping in to buy at discounts, we might be close to bottom.
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