Reports: B Of A Sells $880M Commercial Mortgage Portfolio

Bank of America has agreed to sell an $880 million commercial mortgage portfolio at a discount of 20% to 25%, the Wall Street Journal, Bloomberg and others are reporting, citing unnamed sources.

The transaction is mostly made up of performing mortgages, although nonperforming loans account for approximately one-quarter of the portfolio. The buyer is a consortium comprising Square Mile Capital Management LLC, Invesco Ltd. and a fund managed by Canyon Capital Realty Advisors LLC, the Journal reports.

The mortgages are tied to 32 properties in 12 states, according to compiled reports.


Please enter your comment!
Please enter your name here