Blackstone's First REIT Nets $825M In IPO

Nov 1 2013 | 1:28pm ET

A Blackstone Group real-estate investment trust raised $825 million in its initial public offering this week.

Brixmoor Property Group's haul was the largest REIT IPO in 20 years. Blackstone did not sell any of its shares in the shopping-mall owner, and continued to own 73% of the REIT.

The Brixmoor is Blackstone's first REIT.

The huge sale adds to what has already been the biggest year for REIT IPOs in 10 years, and marks what could be a string of huge real-estate business deals for Blackstone. The private-equity giant is set to list hotel chains Extended Stay America and Hilton Worldwide Holdings this year, and next year may hold IPOs for its U.S. warehouse and single-family home-rental businesses.


In Depth

Q&A: Biotech Investing with Crossover Fund RA Capital

Sep 15 2015 | 5:40pm ET

Boston-based RA Capital Management is an intriguing mix of sophisticated life sciences...

Lifestyle

Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

One Year, Three Lessons: What Launching A Liquid Alternatives Fund Taught Us

Sep 24 2015 | 1:53pm ET

One year ago this month, Larch Lane and Rothschild Asset Management formed the Rothschild...

 

Editor's Note