GE Capital buys $2.3 billion loan portfolio from Deutsche Postbank
(Reuters) – General Electric’s finance arm has bought a 1.4 billion pound ($2.3 billion) portfolio of mainly British commercial real estate loans from Deutsche Postbank as it seeks to expands its refinancing and new loans business.
GE Capital Real Estate said the portfolio is composed of performing commercial property loans, with many soon up for renegotiation.
More than 90 percent of the loans are in Britain and secured against offices, shops and hotels, some of which are in central London, a spokeswoman for GE Capital Real Estate said. The remaining properties are in Germany and France.
Read more at: http://www.reuters.com/article/2013/11/20/us-gecapital-deal-idUSBRE9AJ0LZ20131120
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