Blackstone/Wells Fargo $23 billion acquisition of General Electric Capital assets

Overview:

• Private equity firm Blackstone and Wells Fargo have closed their $23 billion acquisitions of real estate assets from General Electric Capital.
• Blackstone spent $14 billion on properties and commercial mortgages in the US, Europe, Mexico, and Australia.
• Wells Fargo spent $9 billion on mortgages and commercial real estate in the US, Canada, and the UK.
• This was the largest real estate transaction since the financial crisis when announced.
• Simpson Thacher & Bartlett (Greg Ressa, Sas Mehrara, Krista Miniutti) advised Blackstone.
• Dechert (Richard Jones) advised Wells Fargo.
• Hogan Lovells (Warren Gorrell, Bruce Gilchrist, Lauren Bellerjeau, Waajid Siddiqui) advised GE Capital.

Kurt Stumpo - Journalist - North America and the Caribbean