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(Reuters) -Morgan Stanley has struck a deal with an investor group to buy $700 million of property loans tied to the failed Signature Bank, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The loans were held by a cohort that included asset management giant Blackstone, Canada Pension Plan Investment Board (CPPIB) and investment manager Rialto Capital.
The group owns a 20% stake in a venture that holds Signature Bank's commercial real estate loan portfolio.
Morgan Stanley, Blackstone and CPPIB declined to comment on the report.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri and Shailesh Kuber)
