Lehman Pursues $385M Real Estate Sell-Off

Law360, New York (July 27, 2011, 5:25 PM EDT) -- Lehman Brothers Holdings Inc. asked a bankruptcy judge in New York for permission Tuesday to sell its stake in a $1.2 billion commercial real estate portfolio near Washington to a Goldman Sachs & Co. unit for $385 million.

Lehman, winding its way through the largest bankruptcy in U.S. history, maintains that the deal is preferable to holding an auction and will allow it to transfer its 78.5 percent interest in a heavily indebted 10-property office building portfolio in Rosslyn, Va., for $385 million in cash....
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