Economics
GE Capital Boosting Lending as Bond Market Wavers: Mortgages
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GE Capital Real Estate, among the world’s biggest property investors before getting burned in the financial crisis, is increasing lending this year as deals accelerate and the cost of borrowing jumps in the commercial mortgage-backed securities market.
The unit of General Electric Co. plans to make about $7 billion of new loans on North American real estate, up 40 percent from last year, said Alec Burger, North America president of GE Capital Real Estate, based in Norwalk, Connecticut. U.S. commercial transactions jumped 35 percent in the first quarter to $72.8 billion, according to Real Capital Analytics Inc., a New York-based property research firm.