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Article: GE Real Estate Makes Debut Investment in Russia.
- Article from:
- PR Newswire
- Article date:
- October 19, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NORWALK, Conn., Oct. 19 /PRNewswire/ -- GE Real Estate today announces it has made its first real estate investment in Russia through an investment of US$50 million in Heitman Russia Property Partners ("HRUPP"), a new fund which will have US$150 million of equity. Along with GE Real Estate and two other institutional investors, Heitman LLC, who is acting as manager, is also taking a sponsor equity stake, aligning its interests with those of the other investors.
HRUPP will aim to acquire development and refurbishment projects in the retail, office, warehouse and residential sectors, throughout Russia. It is expected that HRUPP will commit circa 60% of its capital ...