7/16/2013

In an effort to comply with EU rules, Commerzbank will sell its real estate lending unit to Wells Fargo and Lone Star Funds. Wells Fargo will acquire about $6 billion of the "high-quality" assets, while Lone Star buys non-performing loans at a 3.5% discount. With "our recent expansion of commercial real estate services in the U.K., this transaction is a significant investment in the future growth of our U.K. platform," said Mark Myers of Wells Fargo.

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