General Electric CEO Jeffrey Immelt wants his company to invest in faster-growing businesses to improve its earnings. That's one reason why the Fairfield, Conn.-based company, via its financing and assest management arm GE Capital Solutions, plucked Trustreet Properties Inc., a company that bills itself as the largest REIT for casual dining and fast-food eating, for $1.15 billion on Monday, Oct. 30. GE will pay $17.05 per share, about 36% more than Trustreet's Oct. 27th closing stock price. Commercial real estate has not experienced the slowdown that the residential real estate market has seen in a majority of markets around the U.S. Some of GE's new real estate customers will include Wendy's, Burger King and Pizza Hut Franchises. Wachovia Securities advised GE Capital Solutions' on the deal and Hogan & Hartson LLP was GE Capital Solutions' legal adviser. Trustreet's financial adviser was Banc of America Securities LLC and Pillsbury Winthrop Shaw Pittman LLP served as its legal adviser. — Gerald Magpily
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