Bloomberg News

Lehman Sells Stake in 10 Virginia Buildings to Goldman Sachs

November 01, 2011

(Updates with company’s comment in third paragraph.)

Oct. 31 (Bloomberg) -- Bankrupt Lehman Brothers Holdings Inc. sold its stake in 10 Virginia buildings to Goldman Sachs Group Inc., according to a statement. The price wasn’t disclosed.

Monday Properties remains an owner and the operator of the 3 million square feet of building space in Rosslyn, Virginia, according to the statement.

Ashish Gupta, a senior vice president of Lehman’s real estate group, said in the statement that the company made a “strategic capital infusion” in the portfolio last year. That investment “vastly improved the liquidity of our ownership interest, and ultimately delivered a sizeable return to our creditors,” he said.

New York-based Lehman filed for bankruptcy in 2008 with $613 billion in debt.

The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

--Editors: Glenn Holdcraft, Michael Hytha

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: John Pickering at jpickering@bloomberg.net.


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