GE Capital's Franchise Finance business, part of
General Electric Company
), recently provided a $6.5 million loan to Wright Investment
Properties, Inc. - a hotel management and development company
based in Cordova, Tenn. The funds will be utilized to refinance
and refurbish a 90-room Residence Inn situated in Memphis.
Founded in 1982, Wright Investment Properties currently manages
44 hotels in 16 states. Its portfolio includes a diverse spectrum
of upscale full service hotels in major downtown metropolitan
areas to large convention hotels, resorts, extended stay lodging,
airport hotels and service properties in suburban locations. The
company is very active on the acquisition front and development
of hotels. With financing from GE Capital, Wright Investment is
likely to fuel its organic and inorganic growth.
GE Capital's extensive industry knowledge and expertise will help
Wright Investment to have a deep market insight to better serve
its customers. With over 30 years of experience and $8 billion in
served assets, GE Capital provides financing to more than 2,000
General Electric, the parent company of GE Capital, operates as a
technology and financial services firm. Its segments include
Energy Infrastructure, Aviation, Healthcare, Transportation, Home
& Business Solutions and GE Capital. GE Capital is equipped
with diverse types of products, ranging from consumer lending to
financial solutions and GE Capital meets the financial needs of
businesses of all sizes. In the last reported quarter,
revenues from the GE Capital segment declined 3% year over year
to $11.0 billion as it continued its strategy to reduce the
overall size of its portfolio while focusing on core growth.
General Electric currently has a Zacks Rank #3 (Hold). Other
stocks that look promising and are worth a look now are
Hutchison Whampoa Ltd.
) carrying a Zacks Rank #1 (Strong Buy),
Federal Signal Corp.
), each carrying a Zacks Rank #2 (Buy).
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