We've been reading plenty about Lehman Brothers lately, and here's the latest on losses and reductions in exposure to the RE market.
I've had deals long ago with Lehman and its affiliates, and they have been major players in the market for some time, both as JV money partner investors and in the conduit market. Does the 20% reduction in its exposure mean that its real estate group is shut down from doing new deals, or can it take a run at good opportunities? If the latter is true then the adjustment is more of a normal portfolio balancing, but if they are shut out from new deals then that means a major source of dealmaking is on the sidelines indefinitely and that is a little troublesome.
