An individual waits for a teller at a Signature Bank department in New York City, U.S., March 13, 2023. REUTERS/David ‘Dee’ Delgado Acquire Licensing Rights
Nov 19 (Reuters) – Blackstone (BX.N) is the result in win the $17 billion portfolio of commercial-property loans from the U.S. Federal Deposit Insurance Corp’s sale of Signature Bank debt, Bloomberg News reported on Sunday.
In September, the FDIC used to be searching for consumers for the $33 billion industrial actual property loan portfolio of failed New York lender Signature Bank.
The bidding procedure has introduced in a number of finance firms comparable to Starwood Capital Group and Brookfield Asset Management Ltd (BAM.TO), in step with the Bloomberg file.
The FDIC employed Newmark Group (NMRK.O) in March to promote about $60 billion of Signature Bank’s loans, after state regulators determined to near the failed lender amid turmoil in regional banks previous this 12 months.
Blackstone, the FDIC and Newmark Group didn’t instantly reply to requests for remark.
Reporting via Chandni Shah in Bengaluru; Editing via Lisa Shumaker
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