The developer Crestyl has bought GE Real Estate’s 50 percent share in its residential portfolio, giving it a controlling shareholding now of 73.5 percent. The remainder of the shares are held by Cheyne Capital. The accounting value of the entire residential portfolio of Crestyl is roughly €100m, however the price of the transactions was not revealed. “Thanks to our stability and resources we were able to purchase GE Real Estate’s share, which is ending its real estate activities worldwide. We’ve reduced the share of foreign capital in the company and strengthened our shareholding structure,” said Omar Koleilat, director of Crestyl.
