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Blackstone BX.N is the lead acquirer of the $17 billion commercial real estate loan portfolio from Federal Deposit Insurance Corp’s sale of Signature Bank debt, Bloomberg News reported Sunday.
In September, the FDIC sought buyers for the $33 billion commercial real estate loan portfolio of failed New York bank Signature Bank.
The bidding process attracted several financial firms such as Starwood Capital Group and Brookfield Asset Management Ltd BAM.TO , according to the Bloomberg report.
The FDIC hired Newmark Group NMRK.O in March to sell about $60 billion in loans from Signature Bank, after state regulators moved to shutter the failed bank amid turmoil at regional banks in the early days of the year.
Blackstone, the FDIC and Newmark Group did not immediately respond to requests for comment.
2023-11-19 16:36:04
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