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Tuesday, November 24, 
12:21 pm

Lehman may sell real estate assets

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Lehman_HQ.jpgLehman Brothers Inc. is bracing Wall Street for another rocky earnings announcement: a possible third-quarter loss of $1.8 billion. The firm isn't supposed to announce earnings until two weeks from now, but some are speculating that it may get ahead of the news by announcing it early. So, once again, the New York investment bank is scrambling for some dough to soften the blow and uplift whatever investor confidence is left for the once storied Wall Street icon.


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But what does Lehman have left to sell if it won't sell money manager Neuberger Berman? According to The Financial Times, Lehman may sell its commercial real estate investments valued at nearly $40 billion -- over seven times what it reportedly could get for its money manager.

Blackstone Group Inc., BlackRock Inc., Colony Capital Inc.,  and J.E. Robert Cos. reportedly have spoken to Lehman about the assets, which include both hard assets and securities. - Gerald Magpily

See Dealscape: Analyst leans on Lehman to sell Neuberger Berman
See FT.com article (subscription required)





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