SAN FRANCISCO - BankAmerica Corp. has agreed to sell a package of $340 million in problem commercial real estate loans to a group associated with Goldman, Sachs & Co., in another step to clean up weak credits inherited when it acquired Security Pacific Corp. last year.

BankAmerica would not disclose terms or the book value of assets it agreed to sell to Whitehall Street Real Estate Limited Partnership III, though the San Francisco-based bank company said it expects to realize a gain from the deal.

Gain of $100 Million Seen

The price may have been as high as $250 million, commercial real estate sources estimated, suggesting growing buyer interest in distressed California realty. The estimates indicate BankAmerica is selling the credits for more than 70 cents on the dollar.

John Leonard, an analyst at Salomon Brothers Inc., estimates that the banking company carries the assets on its books at about $150 million. If estimates of the purchase price are accurate, BankAmerica could record a gain of as much as $100 million.

The transaction is expected to be completed by the end of the year.

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