· Strong progress since April 10 disposition announcement
· Bulk of remaining debt and equity to close in second and third quarter
FAIRFIELD, CT - June 17, 2015 - GE [NYSE:GE] announced its GE Capital Real Estate business has now completed transactions totaling $9.5 billion with Blackstone [NYSE: BX], Wells Fargo [NYSE: WFC], Shinsei Bank Limited and other buyers for portfolios in Canada, Japan, Germany, U.K. and the U.S.
GE Capital Real Estate to provide a €16MM acquisition facility to one of Westcore Europe LLC’s affiliate
Additional loan to cover future capex
First debt deal in Germany
With more than $4 bn of loans in 12 months, GECRE’s lending business - mainly in the UK - is now expanding to Germany
Type of debt products: acquisition finance and refinancing of office and logistic/light industrial assets
GE Capital Real Estate announces the completion of a €16MM acquisition facility with one of Westcore Europe LLC’s affiliate to purchase a 36.000 m² off
Sydney, Australia: GE Capital Australia and New Zealand has today signed an agreement to sell approximately $5 billion dollars in mortgages to Pepper Homeloans, in a sale that marks the final phase of its withdrawal from its home lending business in Australia and New Zealand.
"This transaction aligns with GE Capital's strategy to become Australia and New Zealand's leading specialist financial services provider," said Skander Malcolm, President and CEO, GE Capital Australia & New Zealand.
The U. S. Department of the Treasury today selected a joint venture partnership between GE Capital Corporation and Angelo, Gordon & Co. as a pre-qualified fund manager for the U.S. Department of the Treasury's Legacy Securities Public-Private Investment Program, or "Legacy Securities PPIP."
