NEW YORK CITY-The partnership between Winthrop Realty Trust and William Ackman's Pershing Square Capital Management is making moves to get hold of Stuyvesant Town and Peter Cooper Village.
The group has grabbed the debt on the 56-apartment complex and is expecting to gain ownership of the building complex at an auction to be held on August 25. However, it may face obstacles as various buyers and creditors are also vying for purchasing the complex. Other investors interested in the complex include Richard LeFrak, Wilbur Ross and David Tepper. For the full story, go to Wall Street Journal.
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