Atlantic Union Bankshares Corp., the holding company for Atlantic Union Bank, and Blackstone have closed the sale of approximately $2 billion of the bank’s performing commercial real estate loans acquired from Sandy Spring Bank to vehicles affiliated with Blackstone Real Estate Debt Strategies (BREDS).
The commercial real estate loan sale was contemplated and announced as part of Atlantic Union’s merger with Sandy Spring Bancorp, Inc., which closed on April 1, 2025.
“After closing our acquisition of Sandy Spring, we have been focused on integration and execution,” said John Asbury, president and CEO of Atlantic Union. “Today’s announcement is another proof point of Atlantic Union’s ability to execute and deliver on transactions that create long-term value for our shareholders. We were pleased to work with Blackstone Real Estate on this transaction, which both sides executed seamlessly. The loan sale transaction reduces our CRE concentration and frees up c
