A venture of private-equity firms, Blackstone Group and Square Mile Capital, is acquiring mortgages worth $385 million tied to 45 hotels, The Wall Street Journal reports. The mortgages have been sold by the Federal Deposit Insurance Corporation (FDIC). The loans are the remains of the failed Silverton bank in Georgia, which held the debt until mid-2009, when it was shut down by the FDIC. The Silverton portfolio is the third large portfolio the FDIC has sold in 2011.
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