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Lehman Selling Archstone
From a patrick.net reader:
Residents of Archstone San Jose (963-unit apartment complex on Kiely Blvd.),
previously owned indirectly by Lehman Brothers, were notified that the complex
has been sold to Laramar San Jose Partners, LLC effective today.
Normally a deal like this would come with a press release from one or both
parties, but so far the wires are silent. Lehman Brothers, already on the
defensive due to bad mortgage investments, is probably trying to avoid
generating any press interest in their apparently desperate efforts to raise
capital.
-Cody K.