Making another high-value, low-profile acquisition in its bid to ramp up its overseas operations, Mitsubishi UFJ Financial Group said it will buy Deutsche Bank's $3.7bn US real estate lending portfolio and platform.

The Japanese financial giant said that San Francisco-based unit Union Bank expects to complete the all cash purchase of PB Capital's commercial real estate portfolio and management team in the second quarter of 2013. It added that the acquisition of the business from the Deutsche Bank subsidiary will help make Union Bank the ninth largest commercial real estate lender in the US.