Fortress Investment Group is considering making a $4.7 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, a special servicer representing bondholders, took control of the complex in 2010 after its owners missed a debt payment.
Barclays estimated in a May 2 report that the property could fetch $4 billion to $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.