Blackstone Group-owned Brixmor Property Group would be raising up to USD 905.6 million in its initial public offering. The second largest shopping center landlord in the US would be offering 37.5 million shares at a price range of USD 19 to USD 21 per share. Brixmor also had an overallotment option of 5.6 million shares.
The IPO of Brixmor Property Group would add to the biggest year of US real estate IPOs in nearly ten years. Data compiled by Bloomberg revealed that IPOs in the property market peaked in 2004 in terms of amount raised. BioMed Realty Trust Inc and CBRE Group led the highest stock sales that year which raised a total of USD 7 billion.
So far, real estate investment trusts, real estate operating companies and mortgage trusts gathered USD 3.9 billion when they went public this year. This was much higher than the USD 3 billion raised in the whole of 2012.
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