Blackstone To Take Retail Property REIT Public In $100M IPO

Law360, New York (July 18, 2013, 1:28 PM EDT) -- On the heels of striking a large unsecured credit agreement, the Blackstone Group LP has decided to take its retail chain-anchored real estate investment trust, Brixmor Property Group Inc., public in a $100 million initial public offering, according to a Thursday regulatory filing.

Brixmor, which has about 870 million square feet of community store and grocery retail holdings, plans to use proceeds from the IPO to pay off outstanding borrowings from a $2.7 billion unsecured credit facility that it signed off on Tuesday, as well as...
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