It appears the Blackstone venture that picked up a 20% stake in nearly $17 billion of the former Signature loans last December has found a buyer for some of them. Bloomberg Law reports that Maverick Real Estate Partners has acquired $247 million in debt backed by eight New York properties that were part of the Signature Bank loans..
The sale should invite interest if not scrutiny because could help highlight what current values for properties actually are. The lack of price discovery has been a thorn in the side of markets since 2022, when interest rates kept rising and valuations, dropping.
However, it is unclear exactly what Maverick bought, The Real Deal points out.
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