Blackstone buys $2 billion of CRE loans from Atlantic Union Bankshares
BENGALURU: Alternative asset manager Blackstone has bought nearly $2 billion worth of commercial real estate loans from regional lender Atlantic Union Bankshares , further extending its aggressive push into the CRE sector. The loans were bought at a slight discount to their face value, the companies said on Thursday. The loans originated from Sandy Spring Bank, which Atlantic Union bought in a $1.6 billion deal in April. The sale enables Atlantic Union to swiftly reduce its exposure to CRE loans, a segment that has been under pressure due to elevated interest rates and increasing office vacancies driven by the rise…