Wells, LNR said to seek sale of $2bn in loans, property

Wells Fargo and LNR Property Corp. are each seeking to sell about $1bn of distressed US commercial real estate loans and assets, according to people briefed on the offerings. Wells Fargo of San Francisco, the biggest US commercial real estate lender, is taking bids on $500m to $1bn of office and hotel mortgages and properties, said four people, who asked not to be identified because the sale is private.

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3d rendering of a row of luxury townhouses along a street

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