GE Capital Solutions, the business-to-business leasing, financing and asset management unit of General Electric (NYSE: GE), today finalized its acquisition of Trustreet Properties for $17.05 per share of common stock, or approximately $3 billion. Trustreet Properties is now part of Scottsdale, Ariz., -based GE Capital Solutions, Franchise Finance. This significantly expands financial services offerings in the restaurant industry for GE.
“We’ve strengthened our product portfolio and our reach so we can serve more kinds of customers in more places,” says Darren Kowalske, president and CEO, GE Capital Solutions, Franchise Finance.
The acquisition enables GE Capital Solutions, Franchise Finance to significantly increase market share and to create a more dynamic business. The mortgage products and sale-leaseback capabilities of GE Capital Solutions, Franchise Finance give restaurant owners/operators a more extensive suite of products and services to choose from when tailoring their financial needs.
“We have assumed Trustreet operations and are conducting all sale-leaseback financing and related asset management with the same high level of service and reliance our respective customers have come to expect,” says Kowalske. “Additionally, the restaurant 1031 trading platform (www.Trustreet1031.com) is now part of GE Capital Solutions, Franchise Finance, providing valuable information to customers and to the industry.”
GE Capital Solutions, Franchise Finance, is maintaining the former Trustreet office in Orlando, as well as its current offices in Scottsdale and Bellevue, and now is a leading provider of triple-net lease financing to operators of national and regional restaurant chains.