Zhitong Finance learned that, according to people familiar with the matter, Morgan Stanley (MS.US) reached an agreement to acquire about 700 million US dollars of real estate loans issued by bankrupt signature banks (SBNY.US) from groups such as Blackstone (BX.US), Canada Pension Plan Investment Board (Canada Pension Plan Investment Board), and Rialto Capital. People familiar with the matter said that JLL was the consultant for this sale.

Last year, Blackstone and its partners bought part of a joint venture with the US Federal Deposit Insurance Corporation (FDIC), which held approximately $17 billion in signed bank real estate loans. The two companies later considered selling part of their portfolios, with sales of around $1.8 billion mainly stemming from apartment loans. It's unclear how the rest of these loans will be handled.

At a time when the commercial real estate exchange market is still sluggish, sales of real estate loans from signature banks have attracted investors' interest. Landlords and lenders are struggling to cope with higher borrowing costs and plummeting valuations, while rare transactions in the market, such as signature bank loan sales, have made the exact value of some properties and their debts more clear.