The FDIC is in final discussions to declare Blackstone’s bid as the lowest cost option.
The terms of the deal are still being worked out and may change.
The FDIC is seeking to offload $33 billion of Signature’s real estate loans after the bank collapsed.
The deal does not include rent-stabilized apartments.
The commercial real estate market is facing challenges due to rising borrowing costs and declining property values.
Other companies, including Starwood Capital Group and Brookfield Asset Management, were also bidding on the portfolio.