GE Real estate has acquired a high-quality portfolio of about £2 bn (EUR 2.8 bn) in performing commercial property loans from Bradford & Bingley. The portfolio comprises loans to a group of over 100 borrowers, many of whom are well known names in the property industry. 'GE RE's management team remains strongly placed to identify and structure large transactions when it sees an opportunity even in periods of market uncertainty,' the company said in a statement.
GE Real estate has acquired a high-quality portfolio of about £2 bn (EUR 2.8 bn) in performing commercial property loans from Bradford & Bingley. The portfolio comprises loans to a group of over 100 borrowers, many of whom are well known names in the property industry. 'GE RE's management team remains strongly placed to identify and structure large transactions when it sees an opportunity even in periods of market uncertainty,' the company said in a statement.
Following this transaction, GE RE's investments in Europe will total over $ 20 bn. Michael Rowan, managing director of GE RE UK, said: 'GE RE has a long history of debt transactions and we are pleased to be taking part in this sector again on a meaningful scale.'
