X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

STAMFORD, CT-Aiming to increase its holdings in Asia, GE Commercial Finance Real Estate will invest $63 million in a fund targeted at acquiring and developing up to $500 million in assets over the next seven years. It marks the firm’s official entry into the commercial real estate market in India.

The India IT Parks Fund is sponsored by business space provider Ascendas Pte Ltd, which has also invested in the fund along with other international investors. The fund will own and invest in information technology parks that support the IT & ITES industry. Ascendas will contribute two parks into the fund; International Tech Park, Bangalore and the Vanenburg IT Park in Hyderabad.

“Our investment with Ascendas underscores GE’s commitment to growing our presence in the Asian commercial real estate market,” notes Philip Mintz, president, Asia Pacific at GE Commercial Finance Real Estate. He says the partnership will enable company to build “a strong, diversified commercial real estate portfolio that will help support the region’s fast-growing IT support sector.”

Following this transaction GE Commercial Finance Real Estate Asia Pacific will have aggregate real estate investments of more than $4 billion with operations in Japan, Korea, Australia, New Zealand and India. In total, the business has assets of more than $28 billion and more than 30 offices throughout North America, Europe and Asia/Pacific.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt Net Lease Spring 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.