FirstSun Capital Bancorp said Sunflower Bank has closed the sale of about $890 million of performing multifamily commercial real estate mortgage loans to entities affiliated with Brookfield Asset Management.
The loan pool was acquired from First Foundation Bank and carried contractual balances totaling approximately $890 million. FirstSun said the transaction is part of its balance sheet repositioning plan tied to the First Foundation acquisition, which closed on April 1, 2026.
The company said it expects to complete the rest of its previously disclosed balance sheet loan downsizing before the end of the second quarter of 2026. Proceeds from the sale will be used to pay down certain high-cost brokered and non-brokered deposits acquired from First Foundation Bank.
Brookfield said its credit franchise has grown to more than $365 billion.
FirstSun said the final outcome of its balance sheet repositioning, including loan downsizing and total loan fair value marks, is expected to be in line with what it had disclosed when it announced the First Foundation deal. The market has reacted to these announcements by moving the company's shares 1.13% to a price of $35.67. Check out the company's full 8-K submission here.
