Lehman Closes $960M Portfolio Sale To Blackstone, Prologis

Law360, New York (August 7, 2013, 5:14 PM EDT) -- A joint venture led by Lehman Brothers Holdings Inc. has closed on the sale of a massive U.S. industrial portfolio with real estate in Nevada, New Jersey and Pennsylvania to affiliates of Blackstone Group LP and Prologis Inc. for a total of $960 million, the company announced Wednesday.

The portfolio, which includes 17.7 million square feet of warehouse and industrial space in Reno, Nev., Las Vegas, New Jersey and Pennsylvania, was sold in two separate transactions to affiliates of Blackstone's Real Estate Partners VII fund and...
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