Lehman sells Archstone for $6.5 billion

By Staff | November 27, 2012 | Last updated on November 27, 2012
1 min read

The Lehman estate agreed on Monday to sell apartment complex company Archstone to its two biggest real estate rivals, reports The New York Times.

It says Equity Residential and AvalonBay Communities have purchased the company for about $6.5 billion in cash and stocks.

It adds, “The sale will dispose of the Lehman estate’s single biggest asset, as it continues efforts to wind itself down and pay off the firm’s legions of creditors.”

Read more on the sale.

Also read:

FINRA dismisses Lehman’s attempt to recover $500,000

Lehman: The investment that keeps taking

Lessons learned from Lehman Brothers

Trust in financial industry declines: survey

Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.