Tom Galli, a partner at Duane Morris, represented more bidders on loan portfolios sold by the FDIC than perhaps any other lawyer in this country. He talked with GlobeSt.com about loan portfolio sales, including the $33 billion Signature real estate loan portfolio being marketed by the FDIC.
Why should real estate industry participants pay attention to the Signature Bank loan portfolio transactions and other FDIC structured transactions if they otherwise have no interest in investing in them?
Galli: The Signature Bank loan portfolio includes $33 Billion of commercial real estate and multi-family loans which will be offered in separate pools. Those transactions will be among the largest of the year. With the recent relative stabilization of interest rates for new loans, pricing on pools in the Signature Bank portfolio will provide measures for property valuations by the most sophisticated investors in real estate.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
