The Bank Slate


BofA to buy large multifamily portfolio from WaFd in Seattle

Bank of America in Charlotte, N.C., has agreed to buy a $2.9 billion multifamily portfolio from WaFd in Seattle.

Bank of America will buy about 2,000 loans from WaFd, which had previously announced plans to sell loans it inherited from its receny acquisition of Luther Burbank.

The loans have an aggregate balance of $3.2 billion.

The sale is expected to close on June 21, after which BofA plans to enter into a structured transaction or loan sale with funds affiliated with Pacific Investment Management.

Leave a Reply

Your email address will not be published. Required fields are marked *