Equity Residential (EQR) announced it has received $150 million in termination fees from Bank of America, Barclays Bank PLC or together, the "Sellers" and Lehman Brothers Holdings Inc. as a result of Lehman's acquisition of the Sellers' remaining 26.5% interest in Archstone, a privately-held owner, operator and developer of multifamily apartment properties.
Should Equity Residential acquire all or substantially all of Archstone on or before October 4, 2012, the company could be required to return all or a portion of the $150 million in termination fees.
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