The Real Deal Miami

Real estate world still fighting over Lehman assets

February 04, 2009 01:37PM

When Lehman Brothers collapsed, it had property holdings valued at $43 billion. Lehman’s partners, creditors and vendors are still fighting over the bank’s remaining real estate assets. Lehman plans to put some money from its $6 billion cash hoard toward real estate, including $230 million to apartment REIT Archstone-Smith, which Lehman, Barclays, Tishman Speyer and Bank of America took private in 2007. Other developers, including Swig Equities, have fought with Lehman for project funding.