Lehman Brothers Real Estate Partners is close to completing a deal to invest in three development projects from Indian development company Unitech for $525 million (€339 million), India’s Economic Times reported today.
Citing sources within the firm, the paper said the three deals would be similar to the $175 million investment announced yesterday, in which Lehman took a 50 percent stake in a development project in Santacruz, Mumbai. That investment will fund the development of one million square feet of office space.
According to the sources, Lehman was negotiating with Unitech for a similar stake in two other projects in Santacruz, which would close in the next three to four months. In addition, the firm was also negotiating with Unitech to develop a one-million-square-foot office property in Worli, Mumbai, a project in which Unitech holds 50 percent equity.
The four investments would total $700 million for Lehman in Unitech projects. Lehman Brothers Real Estate Partners were unavailable for comment.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
