Morgan Stanley plans to acquire $700m of Signature Bank's property loans from a consortium including Blackstone, CPPIB, and Rialto Capital.

Morgan Stanley plans to acquire approximately $700m of property loans made by failed Signature Bank from a consortium including Blackstone, Canada Pension Plan Investment Board and Rialto Capital. The deal involves loans from Signature's $17bn portfolio, which Blackstone and partners bought last year. Jones Lang LaSalle advised on the sale, which has not yet been confirmed by all involved parties.