NEW YORK CITY-Management of troubled investment bank Lehman Brothers plans to spin off the $25 billion to $30 billion of the firm’s commercial real estate into its own public company. The entity, called Real Estate Investments Global [REI Global], will debut during next year’s first quarter.

According to the firm’s third-quarter financial report, REI plans to hold onto the assets to maximize shareholder value and not sell them based on pressure in a volatile market. However, REI will sell some properties if they provide favorable returns.

“REI Global will not be forced to sell assets below what it perceives their intrinsic value,” said Ian Lowitt, Lehman’s CFO, during the firm’s earnings call.

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