News yesterday that the U.S. Treasury Department and Federal Reserve are assisting Lehman Brothers in shopping around for a buyer means the sale could be imminent. The bank’s assets include between $25 billion and $30 billion in commercial real estate investments, 58 percent of which is comprised of debt and 26 percent of which is equity. The debt includes financing of SL Green’s 1166 Sixth Avenue and 1515 Broadway, as well as Broadway Partners’ acquisitions of 340 Madison Avenue, 450 West 33rd Street and 280 Park Avenue. The sale could also move Lehman’s headquarters from 745 Seventh Avenue, which could be worth as much as $1.1 billion.
Lehman sale could be imminent
September 12, 2008 08:32AM
