Bloomberg also reports that Lehman, whose $22bn purchase of Archstone at the height of the property boom helped sink the firm, is now trying to sell the apartment owner at another peak in potentially the largest initial public offering of a real estate investment trust.
Archstone announced the plan last month after shares of U.S. apartment REITs reached a record following an almost 300% rally since March 2009.
Lehman is seeking to extricate itself from property investments ranging from Detroit office towers to condos in Hawaii to help raise $53bn to repay creditors.
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
