Under the agreement, Broadway will maintain ownership interest in 100 Wilshire Blvd. in Los Angeles; 100 California St., One Sansome St. and 50 Beale St. in San Francisco; 116 Huntington St. in Boston; One Fair Oaks Plaza in Fairfax, VA; and Greensboro Park in Tysons Corners, VA. According to a joint statement from the two companies, the capital contribution is critical to maintaining the properties' class A status and to ensure "a stable and positive experience for current and future tenants. Funds will be used for anticipated leasing costs as well as capital upgrades of certain assets."

The agreement stipulates that Broadway cooperate with Lehman to transfer ownership of the remaining three properties "in an orderly manner." They include Bay Colony Corporate Center in Waltham, MA; 120 Howard St. in San Francisco; and 100 Wall St. here. Broadway's other Boston-area holdings formerly included the John Hancock Tower, one of 10 assets Broadway bought from Beacon in a $3.3-billion 2006 deal. The iconic Boston tower was sold to Normandy Real Estate Holdings at a discount earlier this year.

Scott Lawlor, Broadway's founder and CEO, says in a statement that "This settlement takes care of all of Broadway's near-term debt obligations in this portfolio for the next three years, insulating us from continuing credit market problems while we concentrate on portfolio strategy and maintaining superior service to our tenants. We're very pleased that we were able to reach a solution with Lehman that met our respective objectives."