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PacWest shares were rising early Monday.
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PacWest Bancorp
,
a regional lender that’s come under fire from investors amid market turmoil, was rising early Monday as it sold off real estate loans.
The stock (ticker: PACW) was up 4% in the premarket. It’s down about 50% over the past month.
PacWest said in a filing Monday that it will sell a portfolio of 74 real estate construction loans with a total balance of about $2.6 billion outstanding to
Kennedy-Wilson Holdings
.
The transaction is expected to close in multiple tranches in the second and third quarters.
Write to Brian Swint at [email protected]
Source: https://www.barrons.com/articles/pacwest-stock-real-estate-loans-banks-1aa41d62?siteid=yhoof2&yptr=yahoo