Trustreet Properties Agrees to $3 Billion Acquisition by GE

Trustreet - October 30, 2006

Trustreet Properties, Inc. (NYSE:TSY), a leading restaurant real estate investment trust (REIT), announced today that it has entered into a definitive agreement to be acquired by GE Capital Solutions, Franchise Finance, a leading lender for the franchise finance market in the United States and Canada. The transaction is valued at approximately $3 billion, including the payment of $17.05 per outstanding share of Trustreet’s common stock, in the form of cash, and the assumption or refinancing of Trustreet’s outstanding debt.

GE Capital Solutions will add Trustreet’s preeminent restaurant 1031 trading platform to its own Franchise Finance business, and will also establish an East Coast office at Trustreet’s headquarters in Orlando, Fla., where all sale-leaseback financing and related asset management will be handled for GE Capital Solutions’ Franchise Finance business.

The transaction is expected to close during the first quarter of 2007 and is subject to the approval of Trustreet’s common shareholders and other customary closing conditions. Sphere: Related Content