Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

Sources: Morris Schneider Wittstadt declaring bankruptcy, closing immediately

LandCastle Title’s operations will not be affected

8 avoidable mistakes first-time homebuyers keep making

Stop doing these things

Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy
W S
Lending / The Ticker

Lehman Brothers Holdings sells apartments acquired out of foreclosure

money flare
/ Print / Reprints /
| Share More
/ Text Size+

A subsidiary of Lehman Brothers Holdings Inc. has sold the Serrano Apartment Homes in West Covina, Calif., to B.A.G. Investments for $29.4 million.

Lehman acquired the properties in September 2012 through foreclosure proceedings, according to Andrew Kirsh, an attorney with Sklar Kirsh, who represented Lehman in the transaction.

"Lenders who elected not to sell properties that they foreclosed on during the last recession are now benefitting from the recent spike in pricing over the last 12-18 months," Kirsh said.

"This turned out to be a successful transaction for Lehman, who has benefitted from a rapidly escalating multi-family market since assuming ownership of the asset," he added. 

Recent Articles by Brena Swanson

Comments powered by Disqus