Sent to you by MarcG via Google Reader:
via The Edge Singapore RSS Feed by Bloomberg on 1/11/10
Government of Singapore Investment Corp., manager of more than US$100 billion ($134 billion) of the city-state's foreign reserves, reported losses from its investment in Manhattan's largest residential enclave.
Tishman Speyer Properties LP and BlackRock Inc. said on Jan. 8 they missed a bond payment tied to their US$5.4 billion purchase of the 80-acre property, which includes Stuyvesant Town and Peter Cooper Village apartments. Missing the payment puts the property on course to become the second-largest default in a commercial mortgage-backed security in the US.
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