Morgan Stanley Funds
is taking a real-estate investment trust private. The Wall Street Journal
reports that Glenborough Realty Trust Inc.
has agreed to a $1.9 billion buyout by Morgan Stanley funds. Included in the price is $806 million in debt, all of which Morgan Stanley will either repay or assume.
Glenborough is based in San Mateo, California, and went public in 1996.
Separately, Canadian real-estate developer Revenue Properties Co. is buying the southeastern US REIT Sizeler Property Investors Inc. for $324 million.
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