Lehman Brothers, trying to shore up its balance sheet, has settled on a structure that will allow it to offload billions of dollars in real-estate loans from its books, reports the WSJ. The US investment bank is still hammering out the final details and it isn’t clear when a plan will be unveiled. One sticking point: finding financing in this cash-strapped environment for a spinoff or sale of these assets. In addition to offloading the property assets, Lehman is trying to sell its Neuberger Berman investment-management unit. Ideally, Lehman management wants to announce both transactions at the same time to assure investors it has a bold plan to navigate its way out of the credit crisis.
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