GE Real Estate formed a joint venture on Jan. 21 with Champion Partners, a real estate investment firm based in Dallas. Through this venture, GE and Champion acquired a $95 million, 12 property, 2.6 million square foot industrial portfolio diversified across four major markets—Chicago, Dallas, Memphis and Boston.

“The goal is to build a strong, diversified, industrial real estate equity portfolio,” Darren Kowalske, senior vice president of strategic ventures for GE Real Estate, says. “This venture combines GE Real Estate’s capital strength and industry expertise with Champion’s track record of acquiring, developing and managing industrial properties.”

[FAST FACT] 401(k) PLANS FLOURISH The number of 401(k) plans offering a real estate investment option is expected to increase by 15 percent to 16 percent in 2004, according to Banc of America Securities.