According to the firm's third-quarter financial report, REIplans to hold onto the assets to maximize shareholder value and notsell them based on pressure in a volatile market. However, REI willsell some properties if they provide favorable returns.
"REI Global will not be forced to sell assets below what itperceives their intrinsic value," said Ian Lowitt, Lehman's CFO,during the firm's earnings call.
Though the new entity will be a long-term holder of commercialreal estate, Lowitt said during the call this morning that he doesnot expect it to be structured as a REIT.
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