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WaFd Bank Partners with Bank of America and Pacific Investment Management Company LLC to Complete Sale of $2.8 Billion in Multi-Family Loans

Jun 29, 2024•almost 2 years ago

Contract Type

partnership

SeattleFinanceFintechBanking

Description

Washington Federal Bank announced the completion of the sale of approximately $2.8 billion of multifamily commercial real estate loans to Bank of America, which in turn is selling the loans to funds managed by Pacific Investment Management Company LLC. The sale provides immediate liquidity going forward, and the bank believes the purchase price reflects low credit risk in the portfolio.

Company Information

Company

WaFd Bank

Location

Seattle, Washington, United States

About

WaFd Bank is a national bank, but we’ve tried to act more like a reliable next door neighbor. Ever since we got our start back in 1917, we’ve been helping to build healthy, thriving communities. As an active members of our communities, we’re truly invested in clients like you—delivering simple, straightforward banking solutions to help you make the most of your money.

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Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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