The report, citing two people with knowledge of the matter who asked not to be identified, said UnionBanCal Corp, a Mitsubishi unit based in San Francisco, is expected to acquire the assets.
Recently, Mitsubishi UFJ agreed to pay $3.7 billion for US property lending assets from Deutsche Bank AG through UnionBanCal.
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Mitsubishi UFJ and Morgan Stanley could not immediately be reached for comment.
