Miami Lakes-based BankUnited is on the verge of a major transaction, CEO John Kanas told members of the Greater Miami Chamber of Commerce. Kanas joined New York private equity firms to set up BankUnited in May, on the ruins of BankUnited FSB, which was closed and auctioned off by the Federal Deposit Insurance Corp. Kanas said it had $921 million in equity as of June 30 and could draw on more capital from the consortium of private equity firms that backed its formation. They include WL Ross & Company, the investment firm led by the vulture investor Wilbur Ross, the Carlyle Group, the Blackstone Group, Centerbridge Partners, the LeFrak Organization, the Wellcome Trust, Greenaap Investments and East Rock Endowment Fund. Kanas said he expects to strike a deal within the next week. [SFBJ]

Richard LeFrak, president of the LeFrak Organization, told CNBC’s Squawk Box today that he’s far more optimistic about the residential real estate market than the commercial, as he anticipates a longer road to recovery for the latter industry. “We’re kind of in the second inning or the third inning,” LeFrak said of the commercial market crisis. While other analysts have made estimates regarding how many banks may fail in the coming months, LeFrak said that he abstains from making those kinds of judgments. “It’s kind of death by a thousand cuts at this point,” LeFrak said of the numerous possible small bank closures nationwide.