Blackstone Group's Brixmor Property Group Inc. finally filed for an initial public offering with federal regulators. Analyts said that this IPO has the potential to be biggest real estate IPOs in recent years.
Brixmor said that it wanted to raise at US$100 million in the IPO but the market debut is predicted to be bigger as Brixmor is valued at roughly US$13 billion and that value already includes debt.
The president of Blackstone, Tony James, said that the IPO would most likely happen towards the end of the year, in the fourth quarter.
Analysts and investors have been waiting for the filing. It was one of Blackstone's biggest real estate businesses that outsiders expected to become publicly traded or sold. "That IPO is certainly well anticipated by investors," an analyst at Green Street Advisors said.
Real estate is the largest earner among Blackstone's operations. One of Blackstone's famous business strategies is purchasing properties that need financial help. Blackstone would fix the property and then sell them.
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