The 234 Apartment

America Apartment Communities logo" title="Mid- America Apartment Communities logo" class="companylogo" /> Oakbrook Investments LLC decreased its position in shares of Mid- America Apartment Communities , Inc. (NYSE:MAA) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4 ,551 shares of the real estate investment trust ’s stock after selling 272 shares during the period. Oakbrook Investments LLC ’s holdings in Mid- America Apartment Communities were worth $480,000 at the end of the most recent quarter. Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Roanoke Asset Management Corp NY increased its position in Mid- America Apartment Communities by 48.0% in the second quarter. Roanoke Asset Management Corp NY now owns 3,625 shares of the real estate investment trust ’s stock worth $3...

NEW YORK (Reuters) - Lehman Brothers Holdings Inc agreed to sell property group Archstone to two real estate investment trusts for about $6.5 billion, taking advantage of a strong market for apartments and marking an end to a 2007 gamble that helped push the investment bank into bankruptcy. The buyers, Equity Residential ( EQR.N ) and AvalonBay Communities Inc ( AVB.N ), will split the assets 60-40 and will also take on Archstone's debt, for a total transaction value of $16 billion. Lehman collapsed at the height of the financial crisis in 2008, in part because of soured real estate bets , including the $23. 7 billion leveraged buyout of Archstone. The firm filed for bankruptcy and has been liquidating assets to pay back creditors , who are still owed more than $30 billion. Archstone, one of the largest owners of U.S. apartments, has a large portfolio of properties in metropolitan areas, where apartment buildings have been pricey and difficult to come by. The acquisition would...