GE Capital Trades $2.3B in Mortgage Loans
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Arangio says the portfolio drew “robust interest from the market.”
NEW YORK CITY—A $2.3-billion portfolio of mortgage loans held by GE Capital has sold to three separate financial institutions, CBRE Capital Markets said Monday. The company’s national loan sale advisory groupserved as exclusive advisor to GE Capital on the sale of the portfolio, which was divested as part of the parent company’s winding down of its financial services presence.
Deutsche Bank AG purchased the largest portfolio, which included 46 performing and sub-performing loans with a current unpaid principal balance of $1.59 billion. Waterfall Asset Management purchased a portfolio of 265 small balance loans from GE Capital’s business property lending unit, which totaled $565 million in UPB…
