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Former GE Real Estate execs spin-out

Chris Macke, former GE Real Estate vice president, has set up his own firm, General Equity Real Estate, to target single-tenant commercial properties. He will be joined by other GE Real Estate net lease professionals in the near future.

Former GE Real Estate vice president Chris Macke has spun out from the US conglomerate to form his own private equity firm, General Equity Real Estate.

Macke spent five years at GE Real Estate, where he focused on buying single-tenant commercial properties. Macke will be joined by other GE Real Estate net lease executives in the near future.

Speaking to PERE magazine, Macke said the firm would continue to target single tenant properties, with long leases and stable long term cash flows. He added that the firm would seek IRRs in the mid-teens, targeting office and industrial buildings across the US.

As the firm scans the investment horizon, Macke said programmatic joint ventures may be the most appropriate fund structure for the industry moving forward.

“[LPs] want more certainty, and some are looking for more control. A programmatic joint venture is one way of working more closely with your investors which is how we prefer to operate,” he said in the April issue of the magazine.