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Lehman Said to be Shopping $40B Real Estate Portfolio

NEW YORK CITY-The Wall Street investment bank is reportedly in talks with firms such as BlackRock and Blackstone and will sell all of the assets as a whole or broken up.

By Natalie Dolce | Updated on August 16, 2008

NEW YORK CITY-Wall Street investment bank Lehman Brothers Holdings Inc. is reportedly in talks to sell its entire $40-billion real estate portfolio. Lehman is believed to have begun negotiations with firms such as BlackRock and Blackstone, according to reports, although Lehman’s New York City office was unable to be reached by press time to confirm reports.

Reports say that the firm will sell all of its assets as a whole or broken up to the highest bidder. Only two months ago, the firm revealed a net loss of $2.8 billion for the second quarter, compared to net income of $489 million for the first quarter of 2008 and $1.3 billion for the second quarter of 2007.

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