General Electric Co. (NYSE:GE): Current price $23.09
On Tuesday, GE Capital’s Franchise Finance business said that it has loaned $6.5 million to Wright Investment Properties, Inc., a hotel management and development firm based in Cordova, Tennessee. Most of the funds will be used to refinance and renovate a 90-room Residence Inn in Memphis.
President and Chief Executive of Wright Investment commented that, “We’re actively pursuing acquisitions and we believe we have a proven formula for growth. We’re pleased to work with GE Capital because we believe they have the industry expertise we need to help us continue to succeed.”