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Lehman Seeks Partners For RE Projects

Lehman Brothers Holdings is looking for partners for 75 real estate projects in 19 states.

Lehman Brothers Holdings is looking for partners for 75 real estate projects in 19 states, Bloomberg reports. Lehman’s bankruptcy restructuring firm, Alvarez & Marsal, has sent requests to at least six homebuilders and developers for the same.

Companies that received the proposals are homebuilders, PulteGroup, StandardPacific and Toll Brothers, along with developers, DMB Associates, FivePointCommunities and Newland Communities. Lehman, whose holdings include residential and master-planned communities valued at about $2 billion, did not detail the property portfolio.

Click here for the story from Bloomberg.

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