OceanFirst completes $1.3B NYC multifamily loan sale to cut rent-regulation risk

Filed June 30, 2026 · Period ending June 29, 2026 · ~1 min read

Key Changes

• high

  Sold $1.3B multifamily loan portfolio (1,400+ loans) acquired in Flushing Bank merger, with $736M tied to NYC rent-regulated properties, at price matching initial valuation estimates.

  Item 8.01 — Other Events verify on EDGAR →
• high

  Post-sale exposure to loans with >50% rent-regulated units now below 2.5% of total assets, down from levels inherited in June 1 Flushing merger.

  Item 8.01 — Other Events verify on EDGAR →
• medium

  Management cited current marketplace dynamics for rent-regulated properties as rationale for meaningfully reducing exposure and rebalancing CRE concentration.

  Item 8.01 — Other Events verify on EDGAR →