Mitsubishi Buys $3.7B Loan Portfolio From Deutsche Bank

Law360, New York (April 08, 2013, 1:52 PM ET) -- The U.S. banking unit of Japanese financial conglomerate Bank of Tokyo-Mitsubishi UFJ Financial Group Inc. has acquired Deutsche Bank AG's $3.7 billion U.S. commercial real estate lending portfolio and platform, Mitsubishi UFJ said Sunday.

San Francisco-based Union Bank NA said it would acquire the portfolio from PB Capital Corp., a wholly owned Deutsche Bank subsidiary, in an all-cash deal. Union Bank will also take over PB Capital's commercial real estate lending team, based in New York, it said.

The portfolio includes roughly $3.7 billion in loans...
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