PASADENA, CA-OneWest Bank, the successor to failed IndyMac Bank,has acquired a $1.4 billion portfolio of approximately 600multifamily and commercial real estate loans from Citibank in whatOneBank describes as a sign of its “ongoing commitment tocommercial real estate lending.”
The acquisition adds “quality earning assets to our balancesheet,” OneWest Bank president and CEO Joseph Otting said in aprepared statement regarding the transaction.
The transaction closes immediately, and will be reflected onOneWest Bank’s fourth quarter financial statements. Terms of thetransaction were not disclosed.
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