RUSSIA—GE Real Estate announced today that the company has made its first real estate investment in Russia. The firm has invested $50 million in Heitman Russia Property Partners (HRUPP), a new fund that will have $150 of equity.
Along with GE Real Estate and two other institutional investors, Heitman LLC, acting as manager, is also taking a sponsor equity stake, aligning its interests with those of the other investors.
HRUPP will acquire development and renovation projects in several different real estate sectors, including multifamily. It is expected that HRUPP will commit circa 60 percent of its capital to development projects
