Investors affected by Lehman’s bankruptcy

Two New York-based real estate investors could be affected by the
Lehman Brothers bankruptcy. Broadway Partners, led by CEO Scott Lawlor,
bought more than $8 billion of
properties, including Boston’s
John Hancock Tower, between December 2006 and May 2007, with short-term
money
borrowed from Lehman and other banks. Broadway paid a fee to extend
a repayment
deadline for $1.5 billion of mezzanine loans earlier this year. Steve
Witkoff,
principal of the Witkoff Group, is the lead owner of the Devonshire
House, an
office building in London’s West End, which Lehman Brothers also has an
equity stake in. Witkoff
said he had hoped Lehman would sell its stake in the building before
its
bankruptcy filing.