FDIC Announces Start Of Marketing Process For $33B Commercial Real Estate Loan Portfolio Of Former Signature Bank, New York; The Majority Of The Commercial Real Estate Loan Portfolio Being Marketed Is Comprised Of Multifamily Properties In New York City
Portfolio Pulse from Benzinga Newsdesk
The FDIC has announced the start of the marketing process for a $33 billion commercial real estate loan portfolio of the former Signature Bank, New York. The majority of the portfolio is comprised of multifamily properties in New York City.
September 05, 2023 | 6:18 pm
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NEUTRAL IMPACT
The news may indirectly impact SPY as it reflects the overall health of the commercial real estate market, which is a significant component of the economy.
While SPY is not directly mentioned, the news reflects the state of the commercial real estate market, which can influence the broader economy and thus the performance of SPY. However, the impact is indirect and may not be immediate.
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RELEVANCE 50