GE Capital completes acquisition of Security Capital Group

GE Capital, through its Real Estate business, announced today that it has completed its acquisition of Security Capital Group Incorporated, an international real estate operating company.

“We are very enthusiastic about this acquisition and the opportunities that it offers us for growth,” said Michael Pralle, President and CEO of GE Capital Real Estate. “From the start, we recognized Security Capital’s strengths. It is a well-run business with excellent talent and solid positions in self-storage, grocery-anchored retail and parking, which are some of the most stable asset classes in real estate. It would have been time-consuming and difficult for us to build these businesses from the ground up. Our depth of experience and capital will now allow us to further develop them.”

This acquisition provides GE Capital with ownership positions in Storage USA, an owner, operator and developer of self-storage facilities throughout the United States; Regency Centers (NYSE: REG), an owner, operator and developer of grocery-anchored neighborhood retail centers in the United States and InterPark, a manager and owner of parking facilities throughout the United States.

GE Capital also acquired BelmontCorp, a leading owner, operator and developer of senior assisted living facilities; Security Capital Research & Management, a real estate investment advisor; and an interest in Security Capital European Realty, a holding company that owns and operates public car park facilities, self-storage facilities and offices for multi-national companies in Europe.

About GE Capital Real Estate:
GE Capital Real Estate, headquartered in Stamford, CT, is one of the industryÂ's most diverse global resources for commercial real estate capital, with a portfolio of over $24 billion, through its structured finance, equity and capital markets products.

GE Capital, with assets of more than $425 billion, is a global, diversified financial services company grouped into six key operating segments comprised of 25 businesses. A wholly owned subsidiary of General Electric Company, GE Capital, based in Stamford, Conn., provides a variety of consumer services, such as credit cards and life and auto insurance; mid-market financing; specialized financing; specialty insurance; equipment management, and specialized services, to businesses and individuals in 47 countries around the world. GE is a diversified services, technology and manufacturing company with operations worldwide.

(source: GE Capital Real Estate)

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