The FDIC announced Monday that it has begun a marketing process for the approximately $33 billion commercial real estate loan portfolio retained in receivership following the failure of Signature Bank in New York. To maximize preservation of availability and affordability of residential real property for low- and moderate-income individuals, the FDIC will place rent stabilized or rent controlled loans into one or more joint ventures with majority equity interest retained by the agency. The winning bidder(s) will act as managing member(s) responsible for management, servicing, and ultimate disposition of these loans while subject to stringent monitoring from FDIC. Marketing is expected to take three months with transactions completed by year-end 2023. Newmark has been appointed advisor on this sale.
“Nonprofit HOPE Program Secures 10-Year Renewal with Assistance from Cresa”
Cresa’s senior advisors, Waite Buckley and Michael Herz, successfully negotiated a 10-year renewal lease for 7,500 square feet at 1
Steve Griffin
November 15, 2024
