The Federal Deposit Insurance Corp. said Thursday that a partnership between an unnamed minority-owned business and Oaktree Capital Management based in Los Angeles, will pay $23.9 million in cash for 25% of a company formed to own 93 commercial real estate loans the FDIC inherited from Tennessee Commerce Bank in Franklin, Tenn.

Regulators seized Tennessee Commerce in January after the bank became critically undercapitalized.  The loans have a combined unpaid balance of roughly $166.2 million, secured mostly by land and other collateral in Tennessee, according to the FDIC.

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