Blackstone Group LP, the world’s biggest private-equity firm by assets, and Prologis Inc. agreed to buy a portfolio of 17 million square feet (1.6 million square meters) of warehouses for about $960 million, said two people with knowledge of the agreement.
Brookfield Property Partners LP, the $48 billion business being spun off by its Canadian parent, plans to pursue purchases beyond office and retail, the firm’s past areas of focus, as its access to capital improves.
Lehman Brothers Holdings Inc. , the investment bank liquidating in bankruptcy, sold the management contract for its real estate funds to the former executives who ran the business, Chief Executive Officer Bryan Marsal said.
More than 1,300 miles (2,092 kilometers) from New York, on the uninhabited island of West Caicos, a group of European investors are helping to pick up the pieces from Lehman Brothers Holdings Inc.’s collapse.
Merrill Lynch & Co., the brokerage unit of Bank of America Corp. , won a U.S. judge’s ruling denying a bid by 17 black financial advisers for group status in their five-year-old discrimination lawsuit.