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GE Capital Sells Portfolio of Properties
GE Capital, the financial arm of General Electric, has agreed to sell an $807 million portfolio of properties to American Realty Capital Properties, the Wall Street Journal reports.
The portfolio includes 471 lease properties, many of them leased to fast food restaurants such as Burger King and Wendy's, the paper says.
GE has been shedding assets from GE Capital, as it considers an IPO for the unit, which was hard hit during the financial downturn.
Meanwhile, American Realty is on a buying spree. Last week it agreed to buy CapLease Inc. for $2.2 billion, including debt.
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