Morgan Stanley Weighs Ending Hotel Stay | wsj.com
Morgan Stanley may have to hand over the keys of a $2.4 billion Japanese hotel chain to creditors when the debt falls due in April, people familiar with the matter said. Morgan Stanley was among the most aggressive buyers of real estate in Japan and globally during the property boom last decade. Now, many of those deals made at the top of the market are dogging the U.S. investment bank as property values plummet and refinancing options remain scant.