GE Nears Sale of Some or All of Real Estate Assets, Journal SaysEdward Dufner
General Electric Co. is close to selling all or part of its real estate portfolio, a business that holds about $30 billion in assets, the Wall Street Journal reported, citing people familiar with the transaction.
Talks are under way with Blackstone Group LP and Wells Fargo Bank NA about asset sales, and a deal could be announced soon, the Journal said. The portfolio includes investments in office buildings, apartment complexes and other property, according to the Journal, which didn’t identify its sources.
Telephone messages left for GE weren’t immediately returned. GE Capital, the company’s finance arm, manages the real estate.