{"id":1004035616,"date":"2011-12-30T05:47:12","date_gmt":"2011-12-30T13:47:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035398"},"modified":"2022-12-05T23:27:01","modified_gmt":"2022-12-06T07:27:01","slug":"equity-returns-fire-in-archstone-battle","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equity-returns-fire-in-archstone-battle\/","title":{"rendered":"Equity Returns Fire in Archstone Battle"},"content":{"rendered":"

December 30, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em><\/p>\n

The newest development in the Equity Residential saga has been filed in court, as the company put forth a motion to intervene as a \u201cparty of interest\u201d in the ongoing legal proceedings between Lehman Brothers Holdings Inc. and Bank of America \/ Barclays Bank P.LC. regarding the sale of an interest in the entities that control Archstone directly to Equity.<\/p>\n

The preliminary injunction hearing requested by Equity is scheduled to take place Jan. 5, 2012. According to a press release, \u201cEquity Residential does not believe that the company’s intervention in the case will create any delays in the ongoing proceedings.\u201d<\/p>\n

As Commercial Property Executive<\/em> previously reported<\/a>, the players are the Lehman estate, which owns 47 percent of Archstone; the company\u2019s former partners in acquiring Archstone, Bank of America Corp. and Barclays PLC, which owns 53 percent of Archstone; and Sam Zell\u2019s Equity Residential, which wants to buy half of the banks\u2019 stake (26.5 percent) in Archstone, as a first step to becoming the boss of the whole shooting match. Equity Residential has made a bid that values Archstone at $16 billion, but the Lehman estate doesn\u2019t want the apartment company sold, but rather to be fodder for an IPO.<\/p>\n

On Dec. 2, 2011, Equity made its initial $1.33 billion offer for the 26.5 percent stake, but on Dec. 15, Lehman sued BoA and Barclays, asking for a preliminary injunction that would prevent the sale. The suit alleged that the banks colluded to sell to the Sam Zell-owned Equity.<\/p>\n","protected":false},"excerpt":{"rendered":"

The newest development in the Equity Residential saga has been filed in court, as the company put forth a motion to intervene in the ongoing legal proceedings regarding the sale of an interest in Archstone. <\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21783,21742],"tags":[],"class_list":["post-1004035616","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-investment","category-latest"],"acf":[],"yoast_head":"\nEquity Returns Fire in Archstone Battle - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/equity-returns-fire-in-archstone-battle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equity Returns Fire in Archstone Battle\" \/>\n<meta property=\"og:description\" content=\"The newest development in the Equity Residential saga has been filed in court, as the company put forth a motion to intervene in the ongoing legal proceedings regarding the sale of an interest in Archstone.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/equity-returns-fire-in-archstone-battle\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-30T13:47:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T07:27:01+00:00\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Equity Returns Fire in Archstone Battle\",\"datePublished\":\"2011-12-30T13:47:12+00:00\",\"dateModified\":\"2022-12-06T07:27:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/\"},\"wordCount\":253,\"commentCount\":0,\"articleSection\":[\"Corporate Real Estate\",\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/equity-returns-fire-in-archstone-battle\\\/\",\"name\":\"Equity Returns Fire in Archstone Battle - 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