Blackstone Venture Eyes Sale of $1.8 Billion of Signature Loans

A partnership including Blackstone Inc. is seeking to sell roughly $1.8 billion of commercial-property loans from the failed Signature Bank.

The venture, which also includes Canada Pension Plan Investment Board and Rialto Capital, is marketing the performing loans, which are backed mostly by apartments, according to people familiar with the matter, who asked not to be identified citing private information.

In December, Blackstone and its partners bought a 20% stake in a joint venture that holds roughly $17 billion of Signature loans with the Federal Deposit Insurance Corp. The FDIC maintained an 80% stake and provided financing equal to 50% ...