GE Capital Real Estate
General Electric
General Electric is a global infrastructure, finance, and media company taking on the world's toughest challenges. GE is a company with a great heritage. Founded in 1878 by Thomas Edison, it is the only company on the Dow Jones Index that was in the original list in 1896. Over 100 years of GE global research has earned two Nobel prizes and thousands of patents. GE is imagination at work. From jet engines to power generation, financial services to water processing, and medical imaging to media content, GE employees worldwide are dedicated to turning imaginative ideas into leading products and services that help solve some of the world's toughest problems.
GE Capital Real Estate
Serving global commercial markets for over 30 years, GE Capital Real Estate, a unit of GE Capital, is a leading source of innovative global commercial real estate capital solutions. Few institutions have the capital strength, industry knowledge and global reach to match GE. GE Capital Real Estate's portfolio is approximately $80 billion, as of January 1, 2009. GE Capital Real Estate Iberia (Spain & Portugal) has a portfolio close to $ 1 billion (2009) with a split of 52% in offices, 34% in industrial, 14% in retail and 10% in other minor assets. GE Capital Real Estate employs over 30 people in its sales and operations offices in Madrid and Barcelona.
Pre-existing situation & UTC Fire & Security's role
Two buildings owned by GE Capital Real Estate in Madrid had been leased to a single tenant for many years and were in need of urgent renovation. Following the renovation, the buildings were capable of housing up to 13 tenants. An updated security system was required for both sites, one that could be independently controlled, and could provide flexible solutions to several different users. As such, UTC Fire & Security suggested a fire detection system that would be able to adapt to the different requirements of the two renting companies, and their tenants.
UTC Fire & Security's solution
UTC Fire & Security provided GE Capital Real Estate with a fire detection system that was easy to install, easy to maintain and flexible to configure. The system consists of the FP fire detection series. It operates mainly through fire detectors, manual call points, control panels and powerful programming. With this fire detection system, different tenants have their own fire system, which can be operated and configured independently. GE Capital Real Estate's buildings in Madrid are now equipped with over 200 detectors, 20 manual call points, over 20 sirens and around 30 control modules. With this system installed, GE Capital Real Estate can be confident of the safety of both their tenants and their assets.