FirstSun Capital Bancorp (NASDAQ: FSUN) announced that its subsidiary Sunflower Bank has completed the sale of approximately $890 million in performing multifamily commercial real estate mortgage loans to entities affiliated with Brookfield Asset Management (NYSE: BAM, TSX: BAM).

The loans were originally acquired from First Foundation Bank and had contractual balances totaling approximately $890 million at the time of sale. The transaction was part of FirstSun's balance sheet repositioning strategy following its acquisition of First Foundation, Inc., which closed on April 1, 2026.

FirstSun plans to use the proceeds from the loan sale to pay down high-cost brokered and non-brokered deposits acquired from First Foundation Bank. The company expects to complete additional balance sheet loan downsizing before the end of the second quarter of 2026.

"Successfully completing the sale of this performing multifamily commercial real estate loan pool is a significant milestone in our balance sheet repositioning strategy," said Rob Cafera, CFO of FirstSun.

Bill Powell, Managing Partner in Brookfield's Credit Group, stated that the investment aligns with the firm's focus on deploying capital across real estate credit opportunities. Brookfield's credit franchise has grown to more than $365 billion.

Stifel served as sole structuring agent to Sunflower Bank, while Dechert LLP acted as the bank's legal advisor. Kirkland & Ellis LLP and Brownstein Hyatt Farber Schreck LLP served as legal advisors to Brookfield.

FirstSun operates through subsidiaries including Sunflower Bank and First Foundation Advisors, with bank branches in ten states and mortgage capabilities in 44 states, according to the company's press release.