Getting your player ready...
General Electric Co. is close to selling all or part of its giant real estate holdings, people familiar with the matter said, as the conglomerate moves more aggressively to shrink its finance business.
GE’s real estate portfolio holds around $30 billion worth of investments in office buildings, apartment complexes and other commercial property spread around the world. The company is in talks with Blackstone and Wells Fargo for various parts of the portfolio, and a deal could be announced soon, the people said.
GE Capital’s real estate business is at the heart of investors’ concerns that lending is too risky for the conglomerate.
