GE Real estate appoint new global investment chief

GE Real Estate has appointed Joe Parsons as the new president and chief executive of its newly formed global investment management division.

Parsons was most recently president of GE Real Estate’s North America equity divison. Since arriving at GE Real Estate in 2002, he has transformed a $2.4 billion US portfolio into a diversified North America Equity investment portfolio of approximately $15 billion, with more than $25 billion in real estate assets under management.

Under his leadership, GE Real Estate made one of its largest and most significant acquisitions ever — the $4.8 billion purchase in 2005 of Arden Realty.

In his new position, Parsons will provide the strategy to lead all of GE Real Estate’s global investment management activities, a division that generated $18 billion in investment programs for GE in 2007.

Australian Property Journal