Lehman in talks to sell $40bn in real estate
The deep fall of the banks and investment corporations takes another hit. Lehman Brothers steps over sub-prime crises with no way to refinance. What comes next Real estate has no value without sub-prime mortgage financing. So better sell now and explain it different. Lehman talked to BlackRock, Blackstone, Colony Capital, and J.E. Robert Companies with real estate portfolios.
Lehman Brothers is in talks with potential buyers over the sale of its $40bn portfolio of commercial real estate assets and securities in an effort to replenish its balance sheet.
People who have been in the discussions say the troubled investment bank wants to sell the assets either as a whole or in pieces but added there was a gap between Lehman’s perception of the value of the portfolio and that of buyers.