The bankruptcy estate of Lehman Brothers Holdings is seeking to sell its equity stakes in 10 projects, The Wall Street Journal reports. The lender, which partnered with developer LCOR for various projects, has not disclosed the package being sold and its price.
The buyer of stakes is expected to also become LCOR’s financial partner in future developments. LCOR and Lehman partnered with Lehman on 30 projects, including Terminal 4 at John F Kennedy International Airport to the $850 million mixed-use project at the White Flint Metrorail station in Washington.
Click here for the story from The Wall Street Journal.