GECRE Funds $575M Purchase Of 16.4 Million SF Industrial Portfolio

Posted by Orb Staff on July 24, 2012 No Comments
Categories : Commercial Mortgage

12043_ge GECRE Funds $575M Purchase Of 16.4 Million SF Industrial Portfolio Norwalk, Conn.-based GE Capital Real Estate (GECRE) has announced the funding of a $575 million first mortgage to affiliates of Blackstone Real Estate Partners VII for the acquisition of 66 U.S.- based industrial properties from Dexus Property Group.

According to GECRE, the portfolio consists of 129 buildings totaling 16.4 million square feet of industrial space located in 10 states across the southern, Mid-Atlantic and Midwest regions.

‘We have a great working relationship with Blackstone,’ says Alec Burger, president of GECRE's North America division. ‘Our team focused their expertise and efforts on this portfolio and delivered a structure that met Blackstone's needs.’

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