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Barclays, BofA Look To Shed Archstone
Barclays and Bank of America Corp. are planning to sell their stakes in apartment company Archstone.
BarclaysandBank of America Corp.are planning to sell their stakes in apartment companyArchstone,The Wall Street Journalreports. The lenders own a total of 53 percent stake in Archstone, the remaining being held byLehman Brothers Holdings。The stake of the two lenders is expected to be valued at between $2 billion and $3 billion.
The banks are in sale discussions with firms such asBlackstone Group,Brookfield Asset Management,Equity ResidentialandAvalonBay Communities。Archstone是所有者全部或部分约77000apartments across the U.S., including New York, Washington, San Francisco, Boston, Southern California and Seattle.
Click here for the story fromThe Wall Street Journal.
Click here for additional coverage fromReuters.