Following the Signature Bank loan portfolio sale in late 2023, Victor Gutierrez, Ten-X’s Vice President of Platform Operations, spoke to Commercial Observer with his insights on the Signature process and the aspects that may have benefited from additional communication.

“I think what was missed here was just outlining the requirements of the registered bidders, and I think if that would have been outlined a little bit better or communicated a little bit better, Brookfield wouldn’t have felt so bad that they lost,” said Gutierrez.

“In a traditional auction the highest price wins, and this was a little bit unique in that this wasn’t the only criteria to win,” he continued. “And because of that there was a little bit of confusion from the bidders as to what it would take and what was the ideal partnership that the FDIC was looking for.”

Read the full article at Commercial Observer.