Capabilities

Sale of Archstone.

Bank of America N.A.

Our attorneys are representing Bank of America Corp. in its sale, along with Barclays, of the remaining 26.5% stake in Archstone to Lehman Brothers Holdings Inc. for $1.58 billion.

In January, our attorneys represented Bank of America Corp. in its sale, along with Barclays, of half of the banks’ stake, or 26.5% of Archstone, to Lehman Brothers Holdings Inc. for $1.325 billion, raising Lehman’s total stake in Archstone to 73.5%. In December 2011, we represented Bank of America in an agreement to sell the stake to Equity Residential. Lehman exercised a right to match Equity Residential’s offer and purchased the banks’ stake, resulting in the termination of the agreement with Equity Residential.

Archstone is a privately-held owner, operator and developer of multifamily apartment properties primarily located in top U.S. growth markets.

Email Disclaimer