Archstone: Private Equity's Latest Real-Estate Prize

The apartment REIT will be taken private in a $22 billion deal

Archstone-Smith (ASN) shares rallied May 29 on news that Tishman Speyer Properties, a private real estate investor, and Lehman Brothers (LEH) will acquire the apartment real estate investment trust in a deal worth $22.2 billion, including debt to be assumed and refinanced.

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