Pursuits
Lehman Puts California Coastal Property on the Market
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Lehman Brothers Holdings Inc. is seeking to sell 196 acres (79 hectares) of California coastal land that has approvals for residential development and was the subject of a legal fight.
Bids for the Orange County land known as Marblehead Coastal, which has 308 entitled home lots, are due by Jan. 15, according to Terry Ruckle, a principal at Irvine, California-based Land Advisors Organization, which is brokering the sale for Lehman. He declined to say how much the New York-based company expects to get for Marblehead.