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According to Bloomberg News, Blackstone appears to be sprinting ahead in the race to claim the $17 billion trove of commercial-property loans from the U.S. Federal Deposit Insurance Corp (FDIC), part of the ongoing sale of Signature Bank (OTC:SBNY) debt.

This tantalizing financial tale began in September when the FDIC set its sights on finding suitors for the $33 billion commercial real estate loan collection left behind by the collapse of Signature Bank.

The auction frenzy has summoned a cadre of financial heavyweights into the fold, including Starwood Capital Group and Brookfield Asset Management (TSX:BAM), all vying for this lucrative slice of the pie, as per Bloomberg News.

Meanwhile, in a parallel storyline disclosed by the Wall Street Journal, a coalition involving two nonprofits and Related Fund Management emerges as the potential victor in a separate auction, eyeing billions of dollars tied to Signature Bank loans secured by New York apartments. The suspense is set to unravel with an official announcement slated for as early as Monday, as reported by WSJ.

Marching to the beat of this financial spectacle, the FDIC enlisted the expertise of Newmark Group (NASDAQ:NMRK) to orchestrate the sale of approximately $60 billion in Signature Bank’s loans. The move came after state regulators opted to shutter the beleaguered lender amidst the turbulence swirling around regional banks earlier in the year.

When approached for comment, the FDIC maintained a discreet silence on the Bloomberg News scoop, citing, “We only comment on sales after they close. The entire portfolio sale has yet to close.” As for the WSJ’s revelations, the agency remained mum, failing to immediately respond to requests for comment.

The key players in this high-stakes saga—Blackstone (NYSE:BX), Newmark Group, and Related Fund Management—chose to remain tight-lipped, withholding any immediate response to requests for comment, adding another layer of intrigue to this financial showdown.