NEW YORK -- Chase Manhattan Corp. sold $120 million of impaired real estate assets from a $2 billion portfolio that it earmarked last quarter for quick sale, according to a filing with the Securities and Exchange Commission. The sale was completed this quarter.

Chase did not disclose the discount at which the real estate was sold or the name of the buyer. It said the sale would not have a material effect on second-quarter earnings.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.