Lehman Brothers Holdings Inc. closed on the purchase of a $1.325 billion stake in real estate group Archstone, raising its total stake in the sought-after apartment company to 73.5 percent, according to a regulatory filing made public on Monday.
Lehman's purchase sidelined real estate group Equity Residential, which had also sought to buy the 26.5 percent stake in the company from part-owners Bank of America Corp. and Barclays PLC. Lehman had already owned 47 percent of the company.
Read more: http://www.chicagorealestatedaily.com/article/20120123/CRED03/120129940/equity-residential-aced-out-of-archstone-stake#ixzz1kK3w815B
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