timski

Lehman Looking To Exit Real Estate

On the other side of this market, Broofield Asset Management (BAM) and Leucadia (LUK) are beginning to lick their chops. Brookfield's management was asked about possible real estate acquisitions during their Q2 conference call - to paraphrase, mgt stated that they weren't contemplating acquisitions right now but that tremendous opportunities were expected in the near future. I believe that situations like the Lehman forced sale were exactly what Brookfield had in mind, and Brookfield is going to get a hell of a deal (if not from Lehman, than elsewhere....).

Disclosure: Long BAM