logo
  Join        Login             Stock Quote

Report: Lehman shops real estate assets

Saturday, August 16, 2008 10:55 AM


New York investment banker Lehman Brothers is shopping its massive commercial real estate portfolio in an effort to raise capital, sources say.

The financially troubled firm hopes to raise $40 billion from the real estate sale to replenish its balance sheet in the wake of credit-related writedowns that have seen its share price plummet 63 percent since May, the Financial Times reported Saturday.

Lehman's commercial real estate portfolio late last year was valued at almost $52 billion, but that figure had fallen to $40 billion by the end of May. The Financial Times says Lehman is looking to shop the assets in whole or in pieces and is still facing a gap between what it believes the assets are worth and what potential buyers are offering.

Possible buyers for the real estate include BlackRock, Blackstone, Colony Capital and J.E. Robert Cos., the newspaper reported.

(Source: UPI )

Advertisement
Advertisement



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.