(Reuters) – Fortress Investment Group LLC (FIG.N: Quote, Profile, Research, Stock Buzz) is considering making a $4.7 billion bid for Stuyvesant Town-Peter Cooper Village, a Manhattan apartment complex, Bloomberg reported, citing a person familiar with the matter.
The New York-based private-equity firm is seeking financing for the bid and a deal would involve bringing in equity partners to contribute cash, the person said. (r.reuters.com/nun39v)
CWCapital Asset Management LLC, a special servicer representing bondholders, took control of the complex in 2010 after its owners missed a debt payment.
MetLife sold the complex in 2007 for a record $5.4 billion to a group led by Tishman Speyer Properties LP and a real estate unit of BlackRock Inc (BLK.N: Quote, Profile, Research, Stock Buzz).
Barclays Plc estimated in a May 2 report that the property could fetch $4 billion to $4.3 billion in a sale, which would result in zero losses to bondholders, the Bloomberg report said.
Fortress and CWCapital could not be immediately reached for comment.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.