SOURCE: GE Real Estate

August 04, 2008 12:27 ET

GE Real Estate Names Michael Rowan President of Americas' Equity

NORWALK, CT--(Marketwire - August 4, 2008) - GE Real Estate, a leading global resource for commercial real estate capital, announced today that Michael Rowan has been named president of its Americas' Equity business unit.

Rowan will be responsible for leading all GE Real Estate equity investing operations, which include Venture Investments, Direct Investments, the Arden, and InterPark operating platforms, its Canadian and Mexican equity investment portfolios and emerging markets equity investing in South America.

Rowan began his GE Real Estate career in the early 1980s and, most recently, was managing director of its UK region, where he grew assets for both debt and equity from approximately $2 billion to more than $8 billion. Previously, Rowan was a business leader for GE Real Estate's Specialized Industries group.

"With his wealth of leadership experience -- and expertise in customer relationships -- Mike will guide the Americas' Equity team in enhancing its great regional strength and operating platforms," commented Ron Pressman, president and CEO of GE Real Estate. "His broad knowledge and creative imagination will be invaluable in originating on-book equity transactions that may become future fund opportunities for our Investment Management organization."

Rowan also held executive positions at the Heller Financial Real Estate Group, which was acquired by GE Real Estate in 2001, and at ITT Real Estate Services.

GE Real Estate Americas' Equity actively sources and manages single property and portfolio acquisitions to produce quality returns across Office, Multifamily, Industrial, Retail and Parking asset classes.

Notes to editors:

About GE Real Estate

GE Real Estate (www.gerealestate.com) is one of the world's premier commercial real estate companies, with more than US$87 billion in assets and a presence in 31 markets throughout North America, Europe, Asia, and Australia/New Zealand. Backed by GE's AAA rating, GE Real Estate offers a comprehensive range of capital and investment solutions including equity capital for acquisition or development, as well as fixed and floating rate mortgages for new acquisitions or re-capitalizations of commercial real estate. With a 28% compound annual growth rate since 1993, GE Real Estate is one of the world's fastest growing and most profitable real estate enterprises. This extraordinary record of success grows out of a reputation for collaboration and partnership; a depth of knowledge and experience and a history of building relationships, finding opportunities and opening doors for more than 5,000 owners, builders, borrowers and brokers worldwide.

GE (NYSE: GE) is a diversified services, technology and manufacturing company with operations worldwide.

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