Blackstone (BX), which has been one of the largest buyers of discounted commercial property debt, is buying another $2B in commercial real-estate loans at a roughly 7% discount of their face value from Atlantic Union Bankshares (AUB), reported The Wall Street Journal’s Peter Grant and Gina Heeb. The loans are performing and backed by apartment buildings and neighborhood retail, but have lost value because the loans were made before interest rates jumped, the report stated.
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