First Internet Bancorp in Fishers, Ind., has agreed to sell a portfolio of lease financing loans.
The company disclosed in a regulatory filing that it plans to sell up to $896 million of performing single-tenant lease finance loans to entities affiliated with Blackstone Real Estate Debt Strategies. The expected price would represent about 95% of the portfolio’s unpaid principal balance, including transaction costs.
The sale is expected to close on Sept. 18.
First Internet will enter into a servicing agreement with the purchasers.