An integrated team from almost all practice areas of international law firm Clifford Chance advised GE Capital on the sale of the majority part of its German real estate assets and real estate secured loans to Kildare Partners, a British private equity company.

This sale is in line with General Electric’s strategy to reduce the size of GE Capital, its financial unit, to focus on its industrial operations.

GE Capital Real Estate sold the bulk of its worldwide real estate portfolio to funds managed by Blackstone and its real estate loan portfolio to the financing company Wells Fargo earlier this year. With this additional sale of the German real estate portfolio GE Capital has now divested the majority of its Real Estate division in less than half a year.

The Clifford Chance team was led by partner Dr. Thomas Krecek (Corporate) and included partners Dr. Arne Klüwer and Dr. Beda Wortmann (both Banking & Capital Markets), senior associate Stefan Bruder, associate Moritz Petersen (both Corporate), associate Dorian Legel (Banking & Capital Markets), partner Dr. Stefan Sax, senior associate Dr. Benjamin Werthmann, associate Florian Holder (all Restructuring), partner Thorsten Sauerhering, senior associate Dr. Dominik Engl (both Tax), partner Dr. Stefan Simon, counsel Dr. Ines Keitel (both Employment Law), partner Frank Scholderer (Corporate) as well as partner Dr. Christian Keilich and counsel Dr. Fabian Böhm (both Real Estate) – all Frankfurt.

From Clifford Chance's London office, partner Jane Cheong Tung Sing and associate Nick Hobbs (both Finance) worked on the transaction.