Ellen Brunsberg has been promoted to president and CEO for GE Capital Real Estate Europe replacing Lennart Sten who is retiring.
Brunsberg initially joined GE Capital in its capital markets division in August 2011 and subsequently joined GE Capital Real Estate 12 months ago as managing director of the UK platform, succeeding Ilaria del Beato to spearhead the multinational conglomerate’s UK senior debt lending drive.
Previously, Brunsberg spent 17 years with Morgan Stanley and founded its European securitisation platform, ELoC, which has proved to be one of Europe’s most robust CMBS conduit programs, according to Deutsche Bank research.
At the turn of October last year, GE Capital Real Estate won the race to buy Deutsche Postbank’s circa £1.4bn pool of UK performing commercial property loans, the first major portfolio purchase for the group under Brunsberg’s leadership.
In a prepared statement, Brunsberg said: “I am eager to build on the positive momentum on our debt growth and to smartly manage our equity portfolio, with ‘client-first’ as our number one goal in all we do as a pan-European team.”
In Europe, GE Capital Real Estate is a structured finance lender with in excess of $6bn of loans held and manages a $6bnequity portfolio with 600 properties at 80% occupancy. Its European equity business remains active in UK, France, Germany, Italy and Spain, where it continues its strategy of the past few years of improving their buildings to serve tenants better, and investing for value creation.
Operating its debt business in the UK, France and Germany, GE Capital Real Estate is experienced in providing senior debt financing for the acquisition or refinance of stabilised and transitional class A and B properties whether single assets or portfolios as well as a range of debt-on debt financing.