GE Real Estate Completes $2.2B Acquisition
Score another for one of the world’s largest commerical real estate companies. GE Capital recently completed its $2.2B acquisition of a 147-property portfolio from Crow Holdings. The properties are located throughout the U.S. and are comprised of 112 industrial buildings (9.3 million square feet), 19retail centers (3.6 million square feet), 8 multi-family properties (3,141 units), 6 hotels (1,727 rooms) and 2 office buildings (350,000 square feet).
Crow Holdings is also busy working on investing in their fourth private equity fund, Crow Holdings Realty Partners IV, L.P. (”Fund IV”), which has total capital commitments of approximately $850 million, including a $150 million commitment by Crow Holdings. This equity will be leveraged to acquire more than $2.8 billion in properties. As with prior funds, Fund IV will invest across all property types throughout the U.S. To date, Fund IV has committed approximately 40% of its equity.