Lehman seeks developers for 75 projects

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Lehman Brothers Holdings is soliciting development partners for 75 real estate projects in 19 states, executives who received the Lehman proposals told Bloomberg News. Among the potential partners Lehman has its eye on: PulteGroup, Toll Brothers, Standard Pacific, DMB Associates, FivePoint Communities and Newland Communities. The company has some $2 billion in residential and master-planned communities in its portfolio, and all of the partners its bankruptcy restructuring firm has reached out to have experience developing those types of projects. [Bloomberg]