Kildare Partners buys €700m GE Capital German portfolio

GE Capital has sold most of its remaining German commercial property and loans to U.K.-based Kildare Partners. The sales price is €700 million ($788.9 million).

The 80-property portfolio transaction is part of GE Capital’s global exit from real estate equity investments to focus property debt.

GE Capital Real Estate sold the bulk of its worldwide real estate portfolio to funds managed by The Blackstone Group and its real estate loan portfolio to the financing company Wells Fargo earlier this year. With this additional sale of the German real estate portfolio, GE Capital has now divested the majority of its real estate division in less than half a year.