Lehman Brothers property assests, including European industrial and office space, have been put on the market by Pricewaterhouse Coopers, the appointed administrators to the collapsed investment bank.
This range of office space, industrial and residential property is the first group of Lehman Brothers property assets to be brought to market since Pricewaterhouse Cooper was appointed to wind down the business in September last year.
The portfolio includes a 49% stake in the French Regional Office Fund, a joint Venture with the Kenmore Property Group. The French Office Fund was created in 2007 to develop new office space in France’s urban areas with a population of more than 100,000 people.
The Fund acquires new build offices between 2,500 and 7,500 square usually valued at 5-10million Euros. The fund currently includes office space in major French cities like Lyon and Marseille, as well as office spaces in smaller towns such as Nantes, Montpelier and Strasbourg.
Also in the portfolio now on the market is a 5% stake in eastern European residential developers Adam Holdings, 50% equity in Investrev, which owns a huge Austrian industrial portfolio, and a 49% stake in Lehman’s Student Village, a joint venture with Unite.