{"id":885340,"date":"2025-09-10T17:33:42","date_gmt":"2025-09-10T21:33:42","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/"},"modified":"2025-09-10T17:33:42","modified_gmt":"2025-09-10T21:33:42","slug":"first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/","title":{"rendered":"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone<\/b><\/p>\n<p>FISHERS, Ind. &amp; NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nFirst Internet Bancorp (the \u201cCompany\u201d) (Nasdaq: INBK), the parent company of First Internet Bank (the \u201cBank\u201d), and Blackstone (NYSE: BX) jointly announced today that the Bank has entered into an agreement to sell up to $869 million of performing single tenant lease financing loans to vehicles affiliated with Blackstone Real Estate Debt Strategies (\u201cBREDS\u201d). The Bank will retain customer-facing servicing responsibilities for all loans sold as part of this transaction.<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/<\/a><\/p>\n<p>\n\u201cThis proposed transaction is a decisive step that advances key strategic priorities, including strengthening our capital position, accelerating operating performance towards our near-term target of 1.00% return on average assets, and significantly enhancing net interest margin,\u201d said David Becker, CEO and Chairman of First Internet Bancorp. \u201cReducing our exposure to fixed rate, lower-coupon loans is a meaningful component towards further optimizing our earning asset base, providing balance sheet flexibility and a resilient earnings profile regardless of the interest rate environment. With stronger capital generation capabilities and balance sheet capacity, First Internet Bancorp will be well-positioned to capitalize on future growth opportunities. It was a pleasure to work with Blackstone Real Estate on this transaction, and we look forward to building a strong relationship with them going forward.\u201d<\/p>\n<p>\nTim Johnson, Global Head of Blackstone Real Estate Debt Strategies, said: \u201cWe\u2019re pleased to acquire this portfolio of high-quality, performing commercial real estate loans. With a market-leading platform, deep expertise and $77 billion of AUM, we are able to provide innovative solutions to financial institutions for their commercial real estate portfolios. We are excited to work with First Internet Bancorp and look forward to identifying additional opportunities in the future.\u201d<\/p>\n<p>\nThese performing single tenant lease financing loans are expected to be sold at a price approximating 95% of the unpaid principal balance, inclusive of transaction costs. The reduction in loan balances \u2013 and, consequently, the reduction in risk-weighted assets \u2013 more than offsets the impact of the reduction in shareholders\u2019 equity, leading to increases in the Company\u2019s and Bank\u2019s regulatory capital ratios. Upon closing the transaction, the Company expects to move approximately $550 million of deposit balances off-balance sheet, aiming to provide a modest increase to its tangible common equity ratio. The remaining proceeds are expected to be used to fund near-term loan growth opportunities with the option to move additional deposits off-balance sheet.<\/p>\n<p>\nThe proposed transaction is expected to close on or around September 18, 2025, subject to market conditions and customary closing requirements. The Company has filed supplemental materials regarding this transaction with the Securities and Exchange Commission.<\/p>\n<p>\nFor Blackstone Real Estate, this transaction follows the acquisition of $22 billion of commercial real estate loan portfolios in the last 24 months, including the acquisition of an approximately 20% stake in the $17 billion Signature Bank commercial real estate debt portfolio with JV partners, the $1 billion performing senior mortgage loan portfolio acquisition from PBB and the recent acquisition of approximately $2 billion of commercial real estate loans from Atlantic Union Bank. The BREDS platform has deployed $38 billion from January 2024 through June 2025.<\/p>\n<p>\nPiper Sandler Loan Strategies, LLC served as the introducing broker on behalf of First Internet Bancorp. Gibson, Dunn &amp; Crutcher LLP and Ballard Spahr LLP acted as legal advisors to Blackstone.<\/p>\n<p><b>About First Internet Bancorp<\/b><\/p>\n<p>\nFirst Internet Bancorp is a bank holding company with assets of $6.1 billion as of June 30, 2025. The Company\u2019s subsidiary, First Internet Bank, opened for business in 1999 as an industry pioneer in the branchless delivery of banking services. First Internet Bank provides consumer and small business deposit, SBA financing, franchise finance, consumer loans, and specialty finance services nationally as well as commercial real estate loans, construction loans, commercial and industrial loans, and treasury management services on a regional basis. First Internet Bancorp\u2019s common stock trades on the Nasdaq Global Select Market under the symbol \u201cINBK\u201d and is a component of the Russell 2000\u00ae Index. Additional information about the Company is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.firstinternetbancorp.com&amp;esheet=54322164&amp;newsitemid=20250910746927&amp;lan=en-US&amp;anchor=www.firstinternetbancorp.com&amp;index=1&amp;md5=9a648ad88df0e5edaa0758f53dc6471a\">www.firstinternetbancorp.com<\/a> and additional information about First Internet Bank, including its products and services, is available at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.firstib.com&amp;esheet=54322164&amp;newsitemid=20250910746927&amp;lan=en-US&amp;anchor=www.firstib.com&amp;index=2&amp;md5=7f1c5b7d29408a04002443e404e00665\">www.firstib.com<\/a>.<\/p>\n<p><b>About Blackstone Real Estate Debt Strategies<\/b><\/p>\n<p>\nBlackstone Real Estate Debt Strategies (\u201cBREDS\u201d) is the largest alternative asset manager of real estate credit with $77 billion of investor capital under management. Serving institutional, insurance, and individual investors, BREDS originates loans and makes debt investments across global private and public real estate credit markets and across the capital structure and risk spectrum. BREDS also manages Blackstone Mortgage Trust (NYSE: BXMT), a publicly-traded commercial mortgage REIT, and is a fully integrated part of the Blackstone Real Estate platform, the largest owner of commercial real estate globally.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements include statements concerning future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, including, without limitation: (1) risks related to the consummation of the sale of loans, including the risks that (a) the sale of loans may not be consummated within the anticipated time period, or at all, (b) conditions to the consummation of the sale of loans may not be satisfied, (c) the purchasers\u2019 rights to force the Company to retain or repurchase one or more loans under certain circumstances, and (d) the limitations on remedies contained in the agreement may limit or entirely prevent the Company from specifically enforcing obligations of the purchasers under the agreement or recovering damages for any breach by the purchasers; (2) the effects that any termination of the sale agreement may have on the Company or its business, including the risks that (a) the Company\u2019s stock price may decline significantly if the sale is not completed or (b) any chilling effect on alternative transactions or future loan sales; (3) the effects that the announcement or pendency of the sale of loans may have on the Company or the Bank and its operations, including the risk that as a result the Bank\u2019s business, operating results or the Company\u2019s stock price may suffer; (4) the risk that the sale of loans may involve unexpected costs, liabilities or delays; (5) projected benefits and offsets resulting from the sale of loans and uses of proceeds may not reflect actual results or be realized at all; (6) other economic, business, competitive, legal, regulatory, and\/or tax factors; and (7) other factors identified in reports we file with the U.S. Securities and Exchange Commission. All statements in this press release, including forward-looking statements, speak only as of the date they are made, and the Company undertakes no obligation to update any statement in light of new information or future events.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250910746927r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/<\/a><\/span><\/p>\n<p><b>First Internet Bancorp<br \/>\n<\/b><br \/><span class=\"bwuline\">Investors\/Analysts<br \/>\n<\/span><br \/>Paula Deemer<br \/>\n<br \/>Director of Corporate Administration<br \/>\n<br \/>(317) 428-4628<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:investors@firstib.com\">investors@firstib.com<\/a><\/p>\n<p><span class=\"bwuline\">Media<br \/>\n<\/span><br \/>PANBlast<br \/>\n<br \/>Zach Weismiller<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:firstib@panblastpr.com\">firstib@panblastpr.com<\/a><\/p>\n<p><b>Blackstone<br \/>\n<\/b><br \/>Claire Keyte<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Claire.Keyte@Blackstone.com\">Claire.Keyte@Blackstone.com<br \/>\n<\/a><br \/>(646) 482-8753<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Indiana New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Asset Management Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250910746927\/en\/286215\/3\/bx_logo_jpeg.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250910746927\/en\/2576895\/3\/1stbanc.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone FISHERS, Ind. &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; First Internet Bancorp (the \u201cCompany\u201d) (Nasdaq: INBK), the parent company of First Internet Bank (the \u201cBank\u201d), and Blackstone (NYSE: BX) jointly announced today that the Bank has entered into an agreement to sell up to $869 million of performing single tenant lease financing loans to vehicles affiliated with Blackstone Real Estate Debt Strategies (\u201cBREDS\u201d). The Bank will retain customer-facing servicing responsibilities for all loans sold as part of this transaction. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/ \u201cThis proposed transaction is a decisive step that advances key strategic priorities, including strengthening our capital &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-885340","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone FISHERS, Ind. &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; First Internet Bancorp (the \u201cCompany\u201d) (Nasdaq: INBK), the parent company of First Internet Bank (the \u201cBank\u201d), and Blackstone (NYSE: BX) jointly announced today that the Bank has entered into an agreement to sell up to $869 million of performing single tenant lease financing loans to vehicles affiliated with Blackstone Real Estate Debt Strategies (\u201cBREDS\u201d). The Bank will retain customer-facing servicing responsibilities for all loans sold as part of this transaction. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/ \u201cThis proposed transaction is a decisive step that advances key strategic priorities, including strengthening our capital &hellip; Continue reading &quot;First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-09-10T21:33:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250910746927r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone\",\"datePublished\":\"2025-09-10T21:33:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/\"},\"wordCount\":1234,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250910746927r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\\\/\",\"name\":\"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/","og_locale":"en_US","og_type":"article","og_title":"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone - Market Newsdesk","og_description":"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone FISHERS, Ind. &amp; NEW YORK&#8211;(BUSINESS WIRE)&#8211; First Internet Bancorp (the \u201cCompany\u201d) (Nasdaq: INBK), the parent company of First Internet Bank (the \u201cBank\u201d), and Blackstone (NYSE: BX) jointly announced today that the Bank has entered into an agreement to sell up to $869 million of performing single tenant lease financing loans to vehicles affiliated with Blackstone Real Estate Debt Strategies (\u201cBREDS\u201d). The Bank will retain customer-facing servicing responsibilities for all loans sold as part of this transaction. This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20250910746927\/en\/ \u201cThis proposed transaction is a decisive step that advances key strategic priorities, including strengthening our capital &hellip; Continue reading \"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/","og_site_name":"Market Newsdesk","article_published_time":"2025-09-10T21:33:42+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250910746927r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone","datePublished":"2025-09-10T21:33:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/"},"wordCount":1234,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250910746927r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/first-internet-bancorp-agrees-to-sell-nearly-1-billion-of-single-tenant-lease-financing-loans-to-blackstone\/","name":"First Internet Bancorp Agrees to Sell Nearly $1 Billion of Single Tenant Lease Financing Loans to Blackstone - 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