GE Real Estate Europe has announced that it invested $9.7 bn (EUR 6.5 bn) across Europe in 2007, including $3.9 bn (EUR 2.6 bn) in debt and $5.8 bn (EUR 3.9 bn) of equity investments. The total value of GE Real Estate's assets in Europe stand at $22 bn (EUR 14.8 bn).
GE Real Estate Europe has announced that it invested $9.7 bn (EUR 6.5 bn) across Europe in 2007, including $3.9 bn (EUR 2.6 bn) in debt and $5.8 bn (EUR 3.9 bn) of equity investments. The total value of GE Real Estate's assets in Europe stand at $22 bn (EUR 14.8 bn).
Significant transactions in the second half of 2007 include the acquisition of a $4bn (EUR 2.7 bn) portfolio of commercial property loans from Bradford & Bingley, a EUR 205 mln acquisition of a mixed-use portfolio in Eastern Germany and a joint venture acquisition with Pirelli RE and Calyon of a portfolio of non-performing loans in Italy with a gross book value of EUR 2.6 bn. The company also formed a partnership with Tishman International for the EUR 250 mln development of Sofia Airport Center. The year also saw the company’s first investments in Romania and Russia, where an investment of $50 mln (EUR 33.6 mln) went to Heitman Russia Property Partners for a fund aimed at a development and refurbishment throughout the country.
Click on the link below for new on GE Real Estate's latest acquisition in Germany.
