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Alternatively, you may send written correspondence to: GE Capital, PO Box 4586, New York, NY 10163-4586. Operations in Germany and France were sold to Crédit Mutuel. The business owns and operates more than 200 residential properties consisting of more than 10K units. Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Operations in Australia were sold to Sankaty Advisors. Blackstone (BX) and Wells Fargo (WFC) announced they purchased most of the assets of General Electric Capital Real Estate for a total of $23 billion. Blackstone is a global leader in real estate investing. Only logged in subscribers of this site will be able to access the shared article. Please confirm you would like to remove this article from your saved articles. Register now to read this article and more for free. Moreover, GE Capital has acted as a chief financier of Blackstone's real estate contracts. General Electric is selling most of the real estate and other remaining assets of its GE Capital unit, the financial arm which was once the largest part of the company. Not the case? Please note: by completing and submitting this webform, you agree to GE holding and storing your personal information in other countries which may have different data protection laws than the country in which the information was provided. Blackstone Group LP and Wells Fargo & Co confirmed that they were buying most of the assets of GE Capital Real Estate for about $23 billion. You should only be asked to sign in once. Blackstone, the biggest real estate private equity firm, will pay cash for the debt, which accounts for 8 percent of Mubadala GE Capital’s total assets … NEW YORK -- General Electric - Get Report is expected to sell off most of its mammoth finance unit, GE Capital, by 2018, beginning with the sale of its real estate division to Blackstone - … Both Blackstone and General Electric have been said … GE Capital was advised by Kimberlite Group and BofA Merrill Lynch and represented by Hogan Lovells. Blackstone in $475m Mubadala GE debt deal, REC Small-Ticket Lending Market Directory 2021, Part 2: Flagging opportunities through outreach, Part 5: Retention is as important as the hire, Part 6: Fair promotion creates access to senior roles, What investors want from real estate credit, Term Sheet: Goldman joins 2021’s CMBS drive; CBRE GI eyes debt growth; European alternative lending pioneer Barakat to leave M&G, CBRE GI targets credit push following double appointment. Blackstone Mortgage Trust, Inc. (NYSE: BXMT) today announced that it has signed a definitive agreement to acquire a $4.6 billion commercial mortgage loan … Blackstone is a global leader in real estate investing. for the approximate value of US$26 billion. Blackstone’s real estate business was founded in 1991 and has approximately $81 billion in investor capital under management. GE reached out to Blackstone in mid-March, seeking a buyer with a big real estate … Blackstone, Wells Fargo in $23bn GE Capital raid. Walder Wyss is assisting Simpson Thacher and Blackstone Group LP (NYSE: BX) with respect to the Swiss part of the announced acquisition of assets of GE Capital Real Estate in a transaction valued at approximately $23 billion globally. Blackstone’s €1.9bn purchase was part of the deal it put together with US bank Wells Fargo to buy most of GE Capital’s global real estate business for $23bn in April. Filed Under: Industry News. However, according to various media reports, Mubadala GE said the price of the assets sold to Blackstone is subject to adjustment and the deal could be terminated under certain circumstances. A Mubadala GE spokesperson declined to comment. Blackstone Group LP and Wells Fargo & Co. are nearing a deal to buy a real estate portfolio from General Electric Co. worth as much as $30 … GE Capital was advised by Kimberlite Group and BofA Merrill Lynch and represented by Hogan Lovells. The portfolio … On the heels of … GE Capital Real Estate was sold to The Blackstone Group and Wells Fargo. GE announced last week that it would sell $23 billion worth of real estate and financial-service assets to Blackstone and Wells Fargo. The financing mandate was competitive, with underbidders including at least four investment banks, comprising Citigroup, Morgan Stanley, Credit Suisse and JP Morgan. 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 … (5 days ago) ge capital real estate was sold to The Blackstone Group and Wells Fargo. GE to Sell Most GE Capital Assets, Real Estate to be Sold to Blackstone, Wells Fargo. Blackstone and Wells Fargo announced signed agreements to purchase most of the assets of GE Capital Real Estate in a transaction valued at approximately $23 billion. Get limited access to our industry news, analysis and data, plus regular email updates. GE Capital has also been a major financier of Blackstone's real estate deals. GE Capital Real Estate is a leading commercial real estate company, with global assets of $36 billion and debt and equity activities in North America, Europe and Asia-Pacific. As part of the execution of this new plan, GE announced today an agreement to sell the bulk of the assets of GE Capital Real Estate to funds managed by Blackstone. Operations in Australia were sold to Sankaty Advisors. Wells Fargo agreed to purchase performing first mortgage commercial real estate loans valued at $9.0 billion in the United States, UK and Canada. Please check your spam or junk folder just in case. The $4.6 billion acquisition of GE first mortgage loans by Blackstone's publicly traded commercial mortgage real estate investment trust. Don't have an account? A verification email is on its way to you. GE Capital Real Estate is being sold to funds managed by Blackstone and Wells Fargo in a deal worth about $26 billion. Blackstone’s Real Estate Muscle on Display in GE Deal Private-equity company’s scale in the property market ‘is unmatched’ Blackstone Group global head of real estate Jonathan Gray. Blackstone’s real estate business was founded in 1991 and has approximately $81 billion in investor capital under management. Related: Ge Capital, General Electic Capital, Jeff Immelt. Blackstone also bought through its BREP VIII fund, GE Capital’s US equity assets, which are mainly in Chicago, California and Seattle, for $3.3bn. GE reached out to Blackstone in mid-March, seeking a buyer with a big real estate … 16 September 2015 – Walder Wyss is assisting Simpson Thacher and Blackstone Group LP (NYSE: BX) with respect to the Swiss part of the announced acquisition of assets of GE Capital Real Estate in a transaction valued at approximately $23 billion globally. In June of 2015, GE Capital Corporation completed the sale of the Canadian component of its global real estate equity assets and commercial real estate loans to subsidiaries of The Blackstone Group and Wells Fargo Bank, N.A. Blackstone To Acquire Real Estate Assets from GE Capital. Blackstone (NYSE:BX) is paying just north of ¥190B (about $1.6B). GE Capital Real Estate has won the mandate to finance Blackstone’s Project Tower, the Micheal O’Flynn UK and Irish commercial property loan portfolio, with a €770m five-year loan-on-loan facility. Blackstone is a global leader in real estate investing. Wells Fargo will acquire a portion of the performing loans at closing. Walder Wyss is assisting Simpson Thacher and Blackstone Group LP (NYSE: BX) with respect to the Swiss part of the announced acquisition of assets of GE Capital Real Estate in a transaction valued at approximately $23 billion globally. Mark Myers, head of commercial real estate for Wells Fargo, said, “This is an important transaction in the commercial real estate industry and Wells Fargo is pleased to be working with our colleagues at GE Capital and Blackstone. Blackstone and Wells Fargo announced that they had signed agreements to purchase most of the assets of GE Capital Real Estate in a transaction valued at approximately $23 billion.. GE Capital Real Estate … GE Capital Real Estate has won the mandate to finance Blackstone’s Project Tower, the Micheal O’Flynn UK and Irish commercial property loan portfolio, with a … April 10, 2015, 07:17 AM. Mark Myers, head of Commercial Real Estate for Wells Fargo, said, “This is an important transaction in the commercial real estate industry and Wells Fargo is pleased to be working with our colleagues at GE Capital and Blackstone. Blackstone’s real estate business was founded in 1991 and has approximately $81 billion in investor capital under management. The Walder Wyss team included Johannes A. Bürgi (Partner, Real Estate), Elisabeth Moskric (Counsel, Real Estate), Tervel Stoyanov (Associate, Real Estate) and Valentin Wiesner (Trainee). Blackstone’s real estate portfolio includes hotel, office, retail, industrial and residential properties in the US, Europe, Asia and Latin America. Blackstone is a global leader in real estate investing. A link has been emailed to you - check your inbox. In buying the bulk of the real estate assets from GE’s financial unit, the New York private equity real estate giant and the San Francisco bank look set to complete the largest private property deal since the global financial crisis. Wells Fargo agreed to … The majority of GE Commercial Lending & Leasing was sold to Wells Fargo. For 8 years in various roles in the Real Estate business of GE Capital including Accountant, Controller and European FP&A Leader. The majority of GE Commercial Lending & Leasing was sold to Wells Fargo. Click here. GE Capital has also been a major financier of Blackstone’s real estate deals. Click here to register, Not for publication, email or dissemination. Certain notarial services were provided by Christine Beutler (Managing Associate, Notary). The transaction breaks down as follows: Wells Fargo has agreed to purchase performing first mortgage commercial real estate loans valued at $9.0 billion in the United States, UK and Canada. Operations in Germany and France were sold to Crédit Mutuel. This is the biggest deal in the commercial property market since Blackstone's acquisition of office landlord Equity Office Properties Trust in 2007 for $39 billion, including debt. Mubadala GE Capital, the $8bn joint venture between GE Capital – the financial arm of US conglomerate GE – and Abu Dhabi sovereign wealth fund Mubadala Development, has quietly sold around $475m of real estate debt interests to The Blackstone Group. Blackstone is a global leader in real estate investing.

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