Lehman Brothers' Real Estate group is a full-service provider of capital and advisory services to the commercial real estate, lodging and gaming industries. The group has a presence in all of the major international markets, with investment bankers in New York, Los Angeles, London, Milan, Tokyo and Hong Kong. Our franchise is built upon leadership across the full spectrum of products, including strategic advisory, initial public offerings, common stock, investment grade and high yield debt, preferred stock, convertible securities, bank loans, mezzanine debt, commercial MBS and private placements.

As an integrated part of the broader Lehman Brothers' Real Estate business, the group offers clients exceptional flexibility as well as breadth and depth of service. Some of the group's notable recent transactions* include:

•	Tishman Speyer Properties: $21.7 billion acquisition of Archstone-Smith
•	Marina Bay Sands: S$5.4 billion of senior secured credit facilities
•	Fortress Investment Group: $2.3 billion acquisition of Intrawest
•	Innkeepers USA Trust: $1.5 billion sale to Apollo Investment Corp.
•	Mubadala Development Co.-led consortium: $1.4 billion minority investment in The Related Companies
•	Thomas Properties Group: $1.2 billion acquisition of Equity Office Properties' Austin, Texas, portfolio
•	Vornado Realty Trust: $1.0 billion common stock offering
•	Eurocastle Investment Ltd.: €660 million follow-on equity offering
•	Triple Net Properties: $220 million merger with Grubb & Ellis Co.