GE Unit to Buy Commercial Loans Valued at $2.3 Billion
This article is for subscribers only.
General Electric Co.’s real estate unit said it agreed to acquire commercial mortgages valued at 1.4 billion pounds ($2.3 billion) from Deutsche Postbank AG to expand its refinancing and new-loan business.
The loans are mainly to U.K. borrowers and are performing, GE Capital Real Estate Chief Executive Officer Mark Begor said in a telephone interview. The debt, backed by real estate including office buildings in central London, will mature in 2014 to 2016, he said.