CHICAGO-Equity Residential, chaired bySam Zell, said Friday it will receive a total of$150 million in breakup and termination fees from Bank ofAmerica, Barclays Bank and Lehman BrothersHoldings Inc. after the Lehman estate exercised its rightto buy the banks’ remaining stake in apartment developerArchstone for $1.5 billion. The Lehman deal isexpected to close in 15 days, and releases all parties from anyclaims relating to Archstone, according to a statement fromBofA.

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

If the deal closes, BofA and Barclays will pay Chicago-basedEquity an $80-million breakup fee, while Lehman will pay theapartment REIT a $70-million termination fee. However, Equity saidits contract with BofA and Barclays to buy the 26.5% stake willremain in full force and effect should the Lehman deal fail toclose.