Investment bank Morgan Stanley is moving its real estate investment business, worth some $45 bn (EUR 34.2 bn), from its investment banking division to its money-management unit. News agency Reuters reported that an internal memo sent to Morgan Stanley staff indicated the move will allow the different investing groups to share services. Morgan Stanley is one of the largest investors in real estate in the world. Its real estate assets, including hotels and office properties, doubled in size in the last two years.
Investment bank Morgan Stanley is moving its real estate investment business, worth some $45 bn (EUR 34.2 bn), from its investment banking division to its money-management unit. News agency Reuters reported that an internal memo sent to Morgan Stanley staff indicated the move will allow the different investing groups to share services. Morgan Stanley is one of the largest investors in real estate in the world. Its real estate assets, including hotels and office properties, doubled in size in the last two years.