© Reuters. FILE PHOTO: An individual waits for a teller at a Signature Financial institution department in New York Metropolis, U.S., March 13, 2023. REUTERS/David ‘Dee’ Delgado
(Reuters) – Blackstone (NYSE:) is the result in win the $17 billion portfolio of commercial-property loans from the U.S. Federal Deposit Insurance coverage Corp’s sale of Signature Financial institution (OTC:) debt, Bloomberg Information reported on Sunday.
In September, the FDIC was in search of patrons for the $33 billion business actual property mortgage portfolio of failed New York lender Signature Financial institution.
The bidding course of has introduced in a number of finance corporations resembling Starwood Capital Group and Brookfield Asset Administration (TSX:) Ltd, in accordance with the Bloomberg report.
The FDIC employed Newmark Group (NASDAQ:) in March to promote about $60 billion of Signature Financial institution’s loans, after state regulators determined to shut the failed lender amid turmoil in regional banks earlier this 12 months.
Blackstone, the FDIC and Newmark Group didn’t instantly reply to requests for remark.