OneWest Bank, formerly IndyMac Bank, announced the purchase of a $1.4 billion multifamily and commercial real estate loan portfolio from Citibank. The deal, which includes approximately 600 loans as part of the portfolio, was closed immediately, the terms of which were undisclosed.
"We are pleased to be able to work with Citibank to complete this transaction. This portfolio purchase represents our ongoing commitment to Commercial Real Estate lending. We are excited to add quality earning assets to our balance sheet and look forward to providing all of the banking services that OneWest has to offer to our new customers," said OneWest Bank's President and CEO Joseph Otting.
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