Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-Lehman Brothers has made a late entry into the fray at Haslemere, taking a 23.5% stake in the consortium that has agreed to buy the UK property company.

Lehman Bros joins Brack Capital, Apollo International Real Estate Fund., Merrill Lynch and Five Mounts Investments in the consortium that successfully bid €63.75 per share for Haslemere.

The investment will be made through Lehman Brothers Real Estate Partners, a $1.7 billion private equity fund formed in 2001 by Lehman Brothers to target real estate opportunities in North America and Western Europe. Its other recent European investments include the £920 million ($1.33 billion) privatisation of Burford Holdings, and the purchase of Swisscom’s property portfolio.

Haslemere has a balanced portfolio of over 130 properties across the UK commercial property market, valued at the end of 2001 at £1.484 billion ($2.1 billion). This breaks down by value to 46% retail, 36% offices and 18% industrial/warehouse.

Lehman Brothers’ participation is still subject to EU clearance.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.