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Owners: $5.4B NY housing complexes go to creditors

NEW YORK (AP) -- The financially troubled owners of two massive apartment complexes that sold for a record $5.4 billion a few years ago said Monday they're turning them over to their creditors.

The joint venture ownership team led by Tishman Speyer Properties and BlackRock Realty, hurt by the real estate market collapse, couldn't make a multimillion-dollar loan payment earlier this month for the Stuyvesant Town and Peter Cooper Village apartments in Manhattan.

Over the last few days it became clear the only viable alternative to bankruptcy would be to transfer to lenders control and operation of the 110 buildings and 11,000 apartments overlooking the East River, partnership spokesman Bud Perrone said.
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http://finance.yahoo.com/news/Owners-54B-NY-housing-apf-2493...



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THIS is payday for the bankers.

Transfer of ownership is all they desire. They have attempted to usurp our healthcare modalities through the AMA, they control the dept of agriculture that is destroying the inherent life force energy of our foods, they are the proponents of fluoride and chlorine in our water, the dumbing down of our children and much much more.

Enough is enough wouldn't you say?