Real Estate
Lone Star Buys $343 Million of New York Office and Retail Loans
Banks have been seeking to reduce their commercial-property exposure through loan sales.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Lone Star Funds bought a $343 million portfolio of real estate loans that were held by the former New York Community Bancorp Inc.
The sub-performing loans, backed by New York City office and retail properties, were acquired at a small discount to par, according to people with knowledge of the matter who asked not to be named citing private details.