Reports from the FDIC’s auction of Signature Bank’s commercial real estate backed loans last week are coming in and suggest that pricing for its rent-regulated apartment portfolio is as steep as expected, less than 70 cents of the loan’s face value. Also,  a partnership between Blackstone and Rialto Capital is one of the leading bidders for at least one of the pools of Signature assets backed by commercial property, according to reports in the Wall Street Journal and Bloomberg

A venture of two nonprofits and Related Fund Management is poised to win the apartment portfolio and could be formally announced Monday morning, a source told the Wall Street Journal. 


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Erika Morphy

 

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