Washington Federal Bank, a wholly owned subsidiary of WaFd, has disclosed its agreement to sell some commercial multi-family real estate loans to Bank of America for about $2.9 billion.
The Bank of America Corporation (BofA) is set to purchase Washington Federal Bank's portfolio of commercial multi-family real estate loans, valued at $3.2 billion. The announcement was made by Washington Federal, Inc. (WaFd), the parent company of Washington Federal Bank, in a regulatory filing on Friday.