Davis Polk & Wardwell LLP advised Citibank, N.A. in connection with the sale of a $3.5 billion portfolio of multifamily and commercial real estate loans to JPMorgan Chase, National Association. The financial terms of the transaction were not disclosed.

Citigroup Inc., the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. JPMorgan Chase & Co. is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries.

The Davis Polk corporate team included partners Louis L. Goldberg and Marc O. Williams and associates Joanna A. McGinley and Andrea S. Mparadzi. Partner James A. Florack and associates Meyer C. Dworkin and R. Andrew Dickson III provided credit advice. The tax team included partners Neil Barr and Avishai Shachar and associates Michelle Messer and Anthony L. Oliva (not yet admitted). Counsel John T. Wright provided employee benefits advice. Counsel James P. McIntyre and associate Aaron M. Sacks provided real estate advice. All members of the Davis Polk team are based in the New York office.