Pressman has been with the firm for 27 years, most recently aspresident and CEO of GE Asset Management, which boasts some $197billion worth of property in its portfolio. He has also held avariety of other top-level posts over the past 15 years, includingthe supervision of GE's Central and Eastern European operations,Power Systems (Europe), Real Estate, Employers Reinsurance, andInsurance Solutions.
"Our real estate division is critically important to our overallbusiness strategy," says vice chairman Michael A. Neal. "Ron's deepbackground in financial services and real estate, coupled with hisglobal experience will be of great value as we continue to growthis business in the US and abroad."
Pralle leaves an impressive legacy at the real estate unit ofGE's commercial finance division, a unit thatReal EstateForum last year projected would close 2006 with a$50-billion portfolio. On Pralle's watch, GE Real Estate bought 147assets across the US from Crow Holdings, a deal valued at $2.2billion and bought Arden Realty Inc. for $4.8 billion, flipping aportion of the brick and mortar to Trizec Properties for $1.6billion.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
