Finance Institutional Investment
Capmark Completes Sale of European Loan Portfolio to GE Real Estate
April 23, 2008

Capmark Financial Group Inc.'s subsidiaries have completed the sale of significant interests in 34 loans in its European loan portfolio to GE Real Estate for approximately $896 million, it has reported. The sale caused a loss of roughly $65 million from the valuation of the interests sold in these 34 loans as of Dec. 31, 2007. Capmark intends to use the net proceeds from this sale to repay outstanding debt and for general corporate purposes. This transaction follows the sale on April 4 of significant interests in five large loans in Capmark’s European loan portfolio to GE Real Estate for a sale price of approximately $910 million. The two sales give Capmark "substantial liquidity for debt reduction and for investment opportunities," according to the Capmark statement.

 
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