GE Capital Real Estate France, a major player in the French market, holds a portfolio worth more than 5 billion Euros and is active in most aspects of real estate: acquisition, mortgages, asset management, property management, technical management and arbitrage. Since opening its Paris office in 1996, GE Capital Real Estate has completed over € 10 billions in acquisitions. GE Capital Real Estate has made a name for itself in the French property market through its diversified investment policy: purchasing real estate holding companies (UIS, Cofracomi, Sophia), acquiring real estate portfolios and portfolios of real estate outsourcing deals (France Telecom and Suez) and investing in JV equity partnerships with specialized operators (Foncière des Régions, Cogedim, Gecina).
| Split of our portfolio - As of end of October 2008: |
Split of assets by class:
 |
Real Estate Assets
Owned 100% by GE |
€3.2 billion
301 buildings
70% offices |
| Joint Ventures |
€0.4 billion
Main JVs:
12.5% Foncière Europe Logistique
19% Gecimed (Gecina)
42% Cogedim Office Investment Fund |
| Financing Crédit-Bail |
€0.4 billion |
| €4 billion of real estate assets in France |
Since the end of 2005, GE Capital Real Estate France has accelerated its growth and development by setting up an office in Toulouse, in the Midi-Pyrenees region, and by completing acquisitions of over 100 million Euros in the major French metropolitan areas (Lille, Nantes, Marseille, Strasbourg and Toulouse).
In 2006, in partnership with Gecina, GE Capital Real Estate acquired a real estate portfolio consisting primarily of logistics, industrial and office properties from the Bleecker Group's Foncière Privée; GE Capital Real Estate's share of the transaction amounted to 222,000 sqm of property for 325 million Euros.
More recently, it took over the listed property company IPBM and it purchased a portfolio of warehouses and parcel services space from the Mory Group totaling 190,000 sqm and assets to be developed totaling 50,000 sqm.
GE Capital Real Estate France has reinforced its position in the area of single-asset acquisitions (more than 140 million Euros), primarily via “to be built" future-completion contracts (VEFA). GE Capital Real Estate invested in 10 programs in this segment in 2006 (8 in the Ile de France and 2 regional projects, in Lille and Nantes), representing a total area of 103,682 sq m.
Learn about our real estate fund