Awards &

Buyers sought for Signature Bank’s $33 bln CRE portfolio
5th September, 2023
WASHINGTON, Sept 5 (Reuters) - The U.S. Federal Deposit Insurance Corporation (FDIC) is seeking buyers for the $33 billion commercial real estate (CRE) loan portfolio of failed New York lender Signature Bank, it said on Tuesday.

While the commercial real estate industry has been under pressure amid rising rents and lingering office vacancies, Signature Bank's portfolio is relatively attractive, said Matt Pestronk, president and co-founder of Post Brothers, a real estate developer based in Philadelphia.

Read more at Reuters