Weil Reps Lehman On $1.6B Archstone Stake Buy

Law360, New York (May 25, 2012, 2:33 PM EDT) -- Bankrupt New York investment banking giant Lehman Bros. Holdings Inc. has acquired the remaining 26.5 percent stake in Colorado-based residential real estate investment trust Archstone from Barclays PLC and Bank of America Corp. for $1.6 billion, Lehman said Friday.

Lehman exercised its right of first offer to purchase the stake from the banks. Once the deal closes, later this quarter, Lehman will own 100 percent of Archstone, a residential REIT that specializes in apartment ownership.

"With full ownership of Archstone, we will now be able to...
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