The two banks together own 53 percent of Archstone, with Bank of America holding a slightly larger piece. Lehman has said this first purchase of 26.5 percent of Archstone from the banks will be followed by a later purchase of their remaining stake.

To contact the reporter on this story: Linda Sandler in New York at lsandler@bloomberg.net

To contact the editor responsible for this story: Charles Carter at ccarter12@bloomberg.net

http://www.bloomberg.com/news/2012-01-23/lehman-to-pay-bofa-695-7m-for-half-of-archstone-stake.html

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