GE to Exit Most Finance as $26.5 Billion of Real Estate Sold

General Electric Co. plans to exit the bulk of its lending business, including a $26.5 billion sale of most of its real estate, as Chief Executive Officer Jeffrey Immelt refocuses the company on its industrial roots.

In the broadest restructuring since the GE Capital unit destabilized its parent during the 2008-09 financial crisis, GE plans to unload its middle-market lending business and consumer platforms while keeping only the operations that support its manufacturing arms. Potential buyers have made a “significant amount” of inquiries, GE Capital CEO Keith Sherin said.