THE GRAPEVINE

GE Capital is looking to staff up a real estate finance office in Manhattan. The operation will originate large loans on commercial properties, structure CMBS and buy subordinate notes, according to people familiar with the plan. The effort will be headed by Jim Vincent, who also runs GE's small-mortgage origination program. The goal is to enable GE to perform almost all CMBS functions in-house. As previously reported, GE and Goldman are teaming up on the origination of large loans, with Goldman distributing bonds from resulting securitizations.

Mitch Wasterlain has resign