The Magazine of The Evangelical Lutheran Church in America
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March 2010 |
Church real estate loss
The Church of England is on track to lose $78 million of its $6.4 billion in assets in a New York real estate deal that went sour, reported Episcopal News Service.
The 2007 investment was part of a $5.4 billion deal that two New York-based firms made to buy two large apartment complexes in Manhattan.
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