CHICAGO-Equity Residential, chaired by Sam Zell, said Friday it will receive a total of $150 million in breakup and termination fees from Bank of America, Barclays Bank and Lehman Brothers Holdings Inc. after the Lehman estate exercised its right to buy the banks’ remaining stake in apartment developer Archstone for $1.5 billion. The Lehman deal is expected to close in 15 days, and releases all parties from any claims relating to Archstone, according to a statement from BofA.

The deal gives Lehman the 26.5% stake in Archstone that it didn’t already own. In January, BofA and Barclays sold Lehman another 26.5% slice; the total purchase price of the 53% stake is $2.905 billion.

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