Lehman Sues Bank of America, As Does Whistle Blower Greg Macklowe.
The country’s largest mall operator, Simon Properties, is gobbling up joint venture partner Farallon Capital Management’s interest in 26 shopping malls while also buying a minority stake in French real estate company Kelpierre. (the Associated Press, via NYT)
Whistle blower Gregory Macklowe has filed suit against Bank of America, accusing the financial behemoth of preventing homeowners from snagging mortgage-loan modifications in order to avoid losses. (NYP)
Commercial leasing may be sluggish, but at least the residential brokers are seeing improvements. Indeed, Manhattan’s rental market approached record highs in February, according to data provided by Citi Habitats. (The Real Deal)