OceanFirst dumps $1.4B rent-stabilized loan book days after Flushing merger
One week after closing its biggest acquisition to date, OceanFirst Financial is moving quickly to shed one of the deal’s biggest risks: New York City rent-stabilized multifamily. The New Jersey-based bank plans to sell roughly $1.4 billion of multifamily loans inherited through its acquisition of Flushing Financial Corp., a portfolio that represents the bulk of Flushing’s rent-regulated apartment exposure, Bisnow reported. OceanFirst said the sales are expected to close before the end of the second quarter, effectively removing most of its ties to a property sector lenders are finding increasingly difficult to stomach. The move follows OceanFirst’s $579 million acquisition […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Now what? Rafael Cestero on the rent freeze
aftermath
If I Had to Start Over in Real Estate Today, I’d Do
This
New Fed Chair, Same Inflation Fight: What “Higher for
Longer” Really Means for Small Landlords
The Data Is Lying: What Buyers Are Really Paying in 2026
(Less Than You Think)
3 Ways to Fund Your First Real Estate Deal Without 20%
Down
Gravesend’s new condo record is courtesy of a home-grown
developer
WATCH: Author Michael Gross on billionaire playground St.
Barts
Long Island man convicted in $4.7M Harlem deed theft
scheme
Sonder bankruptcy could claim victim in Moinian FiDi
debt
Nir Meir nears trial for fraud case
