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Valley National Bank Closes Deal to Sell $925 Million Commercial Real Estate Loans to Brookfield Asset Management
Contract Type
contract
Description
Valley National Bank has successfully closed the sale of a diverse pool of performing commercial real estate mortgage loans totaling approximately $925 million to Brookfield Asset Management. The loan pool was sold at a discount of approximately one percent to par value, with Valley retaining customer-facing servicing responsibilities. This transaction marks significant progress towards Valley's strategic balance sheet goals.