Direct Capital teams with Lehman Bros.

The projects will include more than 1,100 housing units and 700 offices. Income from the sales in the building is expected to reach more than NIS 1.35b.

International asset management firm Lehman Brothers and Tel Aviv-based Direct Capital said Tuesday they will jointly invest some NIS 1 billion in three development projects in the Eastern European country of Latvia. The projects will include more than 1,100 housing units and 700 offices. Income from the sales in the building is expected to reach more than NIS 1.35b. Direct Capital is one of the largest real estate developers in Eastern and Central Europe and has also recently completed major building projects in London, Tel Aviv and the US.