OceanFirst to sell $1.4B multifamily loans from Flushing acquisition

OCEANFIRST FINANCIAL CORP

Agreed to sell $1.4B multifamily loans, majority of those acquired in June 1 Flushing acquisition.
Sale reduces Commercial Real Estate concentration by $1.4B and eliminates most NYC rent-regulated exposure.
Purchase price consistent with initial acquisition valuation estimates; proceeds to buy investment-grade securities with similar yields.
Expects completion by end of Q2 2026; further details in Q2 earnings release.

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