Blackstone and Wells Fargo to Buy GE Capital’s Real Estate Assets

NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)--Blackstone (NYSE:BX) and Wells Fargo (NYSE:WFC) today announced that they had signed agreements to purchase most of the assets of GE Capital Real Estate in a transaction valued at approximately $23 billion.

The transaction breaks down as follows:

Wells Fargo has agreed to purchase performing first mortgage commercial real estate loans valued at $9.0 billion in the United States, UK and Canada. Blackstones latest flagship global rea