www.buytetonland.com
Timothy Anderson
Windermere Real Estate Teton Valley
Windermere Prestige Properties Henderson Nevada
pH 208 390 0737
email : buy@buytetonland.com
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Bankrupt Lehman Betting on Commercial Sales
Bankrupt Lehman Brothers Holdings Inc. is betting its recovery on an increase in property values.
Alvarez & Marsal, the advisory firm overseeing the firm’s bankruptcy, has reinvested more than $1 billion in apartments, office buildings, and other commercial property located all over the country that is owned or financed by Lehman. The advisory firm hopes to salvage as much as possible from the $14.4 billion of commercial real estate in various stages of distress that Lehman owns.
Some observers say the strategy is questionable, but Alvarez & Marsal believe that they can recover $11 billion from the assets through careful management, more than double the amount they would likely get from a quick liquidation.
Source: The Wall Street Journal, Lingling Wei (08/04/2010)
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