Excerpt:

Former principals of SunCal, the large-scale private developer whose failed project partnerships with bankrupt Lehman Brothers have grabbed headlines since the financial company imploded in 2008, have hung out their shingle on a new real estate management firm.

The new venture, known as Argent Management and tagged as an affiliate of hedge fund giant D.E. Shaw, promises to provide institutional investors, private-property owners, developers, and financial institutions with a one-stop shop for a wide array of real-estate related services, from deal sourcing to asset disposition and nearly everything in between.