Fortress "preparing $5.9b bid for Stuyvesant Town"

(Reuters) - Fortress Investment Group LLC is considering making a US$4.7 billion (S$5.9 billion) bid for Stuyvesant Town-Peter Cooper Village, a Manhattan apartment complex, Bloomberg reported, citing a person familiar with the matter.

The New York-based private-equity firm is seeking financing for the bid and a deal would involve bringing in equity partners to contribute cash, the person said.

CWCapital Asset Management LLC, a special servicer representing bondholders, took control of the complex in 2010 after its owners missed a debt payment.

MetLife sold the complex in 2007 for a record US$5.4 billion to a group led by Tishman Speyer Properties LP and a real estate unit of BlackRock Inc.

Barclays estimated in a May 2 report that the property could fetch US$4 billion to US$4.3 billion in a sale, which would result in zero losses to bondholders, the Bloomberg report said.

Fortress and CWCapital could not be immediately reached for comment.