Blackstone Venture Sells Slice of Signature Loans to Maverick

A joint venture that includes Blackstone Inc., Canada Pension Plan Investment Board and Rialto Capital sold off roughly $247 million of New York commercial-property loans, a major resale of some of the Signature Bank debt that it bought in December.

The buyer will take over loans backed by eight properties, including buildings in Midtown Manhattan as well as Brooklyn and Queens, according to public filings. Maverick Real Estate Partners was behind the purchases of the roughly $247 million loans, according to a person familiar with the matter who asked not to be identified citing private information.

Blackstone and its ...