Other property IPOs in the pipeline include that of billionaire Adi Godrej's Godrej Properties and DB Realty, co-founded by Mumbai billionaires Vinod Goenka and Shahid Balwa.

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That has not come to pass, and, though he is also losing the seven office buildings he bought from Equity Office Properties in February 2007-- Deutsche Bank (nyse: DB - news - people ) has put them all on the market--he still has a major development site at Park Avenue and 56th Street, the former Drake Hotel and a handful of other impressive assets.

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