The Blackstone Group L.P. (NYSE:BX) is geared up to raise $1 Billion by making its Industrial Property public in 2014. As per the current information, IndCor Properties Inc. is expected to be valued at $8 Billion, which will make it the largest industrial real estate investment trust in the United States.
This is not the first IPO for Blackstone Group L.P (NYSE:BX), as the company has been taking its real estate holdings to the market because of higher share ratings. Some of the major transactions include the IPO of Hilton Worldwide Holdings Inc. and the Brixmor Property Group Inc (NYSE:BRX).
IndCor Properties Inc. came into existence in 2010 when Blackstone Group took advantage of the financial crisis and acquired assets at a lower price. According to the current standings of the company, IndCor Properties Inc has nearly 100 million square feet under its name. There are speculations that selling a huge stake of IndCor Properties might even have some impact over the share price.
As of now, IndCor Properties is at a same level as that of Duke Realty Corp (NYSE:DRE) in terms of its real estate undertakings. Duke has commercial properties under its belt and the company is currently valued at $6.1 Billion.
The Blackstone Group L.P. (NYSE:BX) is working along with major groups including Barclays Plc (LON: BARC), Wells Fargo & Co. (NYSE:WFC), Royal Bank of Canada (TSE:RY), and some units of Citigroup Inc. (NYSE:C) for the IPO of IndCor Properties Inc., as mentioned by the Wall Street Journal.
The Blackstone Group L.P. (NYSE:BX) is an investment manager and it offers financial advice services to its clients. The majority of its clientele include academic organizations, corporate pension funds, cultural firms, and even charitable organizations. The company has over 2010 employees and market cap of $19.15 Billion.
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This article has been written by Prakash Pandey and edited by Serkan Unal.
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