Davis Polk & Wardwell LLP advised Citibank, N.A. in connection with the sale of a $1.4 billion multifamily and commercial real estate loan portfolio to OneWest Bank, FSB. The financial terms of the transaction were not disclosed.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. OneWest Bank, FSB is one of the largest Southern California-headquartered banks and is focused on delivering personalized, relationship-based banking to its customers.
The Davis Polk corporate team included partner Marc O. Williams and associates Joanna A. McGinley and Andrea S. Mparadzi. Partner James A. Florack and associates Meyer C. Dworkin and Adam J. Ross provided credit advice. The tax team included partner Neil Barr and associate Arie Rubenstein. All members of the Davis Polk team are based in the New York office.
