Buyers sought for Signature Bank's $33 bln CRE portfolio

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

The FDIC has been seeking to sell off portions of Signature, one of three larger banks that failed in the spring, since the bank was closed in March after an exodus of depositors seeking higher returns and safer institutions. Within the CRE portfolio is about $15 billion of loans secured by residences that are rent stabilized or controlled.

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