The Globe and Mail reports in its Wednesday edition that Brookfield Asset Management has bought a $925-million portfolio of commercial real estate loans from U.S. regional lender Valley National Bank (all figures U.S.). The Globe's James Bradshaw writes that the deal signals an increased willingness among banks to co-exist with fast-growing private credit providers. The loans in the pool are in the black and span multiple property types, but do not include any office buildings. Brookfield's credit arm bought the portfolio at a discount of about 1 per cent to the loans' par value, and Valley will continue to service the loans for customers. The deal, announced Tuesday, helps Valley spruce up its balance sheet as part of a stated strategy to slow the pace of growth in its loan book and better match its lending to its capital buffer. For Brookfield, it is a chance to buy a pool of loans at a reduced rate and put capital to work from its $30-billion real estate credit business, which is part of a rapidly expanding credit group that manages more than $300-billion. Brookfield has built its clout in credit rapidly in recent years through its majority ownership of Oaktree Capital Management LP and its insurance arm.