GE Capital Buying Restaurant REIT

GE Capital Solutions, a Danbury, Conn.-based asset management division of General Electric, is acquiring Trustreet Properties, an Orlando, Fla.-based restaurant real estate investment trust, for about $3 billion.The acquisition price includes a payment of $17.05 per common share of Trustreet, as well as the assumption or refinancing of Trustreet debt outstanding, according to the REIT. Trustreet, with a portfolio of over 2,000 properties, provides triple-net-lease financing to operators of restaurant chains. "Trustreet's leading sale leaseback capabilities, combined with GE Capital Solutions' mortgage products, create an expanded suite of products for restaurant operators that reinforce both companies' reputations as trusted business partners for the industry," said Curtis McWilliams, president and chief executive officer of Trustreet Properties. The companies can be found online at http://www.ge.com/capitalsolutions and http://www.trustreet.com.