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28 May 2012

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MSREF VI said recovering despite E450m hotel deal

Asset value in the $8bn-equity MSREF VI, the sixth global real estate fund run by investment bank Morgan Stanley, has recovered from the $5.4bn loss said to have arisen in the global crisis, informed sources say. And a E450m hotel portfolio now being sold below purchase price signals active asset management at a price well above its written-down book value

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