Mitsubishi UFJ Financial Group is currently in discussion to purchase US commercial property loans from Deutsche Bank. The Japanese company is the country's largest lender by assets and the acquisition plan has been confirmed by a source who spoke on condition of anonymity.
The acquisition is expected to be completed in the next few days. Included in the transfer are Deutsche Bank's team of bankers that specialize in commercial real estate loans. This transfer comes at a time when MUFG is ramping up its presence and assets in the US market. The firm is also acquiring local lenders as well as providing loan facilities to different corporations and infrastructure projects.
The move to cross the Pacific comes after weak demand in loans in Japan. A few Japanese banks have done the same and they have taken advantage of opportunities because of healthy balance sheets and little interest in Eurozone issues.
When sought for comment, the MUFG spokesman declined while Deutsche Bank Group Tokyo spokesperson also declined.
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