Valley National Offloads Roughly $925M CRE Loans to Brookfield

Valley National Bancorp. (VLY) announced the completion of the sale of a diverse pool of performing commercial real estate (CRE) mortgage loans to Brookfield Asset Management Ltd. (BAM) .Details & Rationale Behind VLY’s Loan SaleThe final loan pool sold by Valley National had a contractual balance of roughly $925 million, of which almost $823 million was identified and moved to held for sale as of Sept. 30, 2024. The loan pool has been sold at a discount of roughly 1% to par value to BAM, with VLY retaining ...