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PacWest Bancorp (NASDAQ:PACW) is selling a portfolio of real estate construction loans at a discounted price in an effort to strengthen its liquidity amid ongoing concerns over its viability.

According to combined media reports, real estate investment company Kennedy-Wilson Holdings Inc. will acquire the portfolio of 74 loans for $2.6 billion and will assume funding obligations under the loans of about $2.7 billion.

PacWest said it is selling an additional six real estate construction loans with an aggregate principal balance of around $363 million to Kennedy-Wilson.

The deal is expected to close in several tranches in the second and third quarters, pending the conclusion of Kennedy Wilson’s due diligence study of the loans.

“There can be no assurance that the transaction will be completed in part or at all,” said PacWest in a regulatory filing.

Shares of the Los Angeles-based PacWest plummeted by 75% since the start of the year after the institution became part of the tumult in the banking sector that saw demise of Silicon Valley Bank, Signature Bank and First Republic Bank. PacWest reported losing 9.5% of deposits during the week ending May 5.