GE Real Estate has bought a portfolio of performing senior and whole loans from Capmark Europe.
The portfolio comprises 39 loans agreed with a number of commercial real estate borrowers backed by assets in Europe, the majority of which are in Germany.
The €1.3 billion ($2.1 billion) deal follows an even larger one in November when the US firm agreed to buy £2 billion of performing loans from Bradford and Bingley building society in the UK.
Mike Rowan, head of UK for GE, said the firm had capitalized on its AAA-rated corporate balance sheet to acquire during a period of market uncertainty.
GE, which is reportedly making a move into private equity real estate by launching a succession of funds, first started in real estate by investing in debt.
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