A year after Lehman Brothers' collapse, the firm overseeing its bankruptcy is moving to restructure loans for 900 properties to help salvage a battered $16bn (€11bn) real estate portfolio.

The moves -- involving commercial real estate properties ranging from huge apartment holdings to office buildings to a Miami condominium complex -- portend the strategies big US banks are likely to undertake as they deal with their own troubled loans and buildings over the next 18 months, specialists say. In some cases, Lehman is generating new loans or even agreeing to buy condominium mortgage loans to keep projects afloat.