Michael Mullen to be Senior Advisor and Join Board of Blackstone Real Estate Portfolio Company IndCor Properties

  Michael Mullen to be Senior Advisor and Join Board of Blackstone Real Estate
  Portfolio Company IndCor Properties

Business Wire

NEW YORK & CHICAGO -- December 13, 2012

Blackstone (NYSE: BX) and IndCor Properties, Inc. (“IndCor” )today announced
that Mike Mullen will be joining IndCor’s board of directors, effective
January 1, 2013. He will also serve as a Senior Advisor to IndCor, with a
focus on growing the company’s 83 million square foot national industrial
platform. Mr. Mullen was most recently CEO and then Vice Chairman of
CenterPoint Properties, a company with a major presence in the development,
acquisition and management of industrial properties and transportation

Frank Cohen, a Senior Managing Director in Blackstone’s real estate business,
said, “We are delighted to have someone with the depth of Mike’s experience
join IndCor. He is one of the most experienced investors and managers of
industrial real estate in the United States.” Tim Beaudin, CEO of IndCor,
added, “Mike is the perfect addition to our talented management platform and
will be invaluable as we build IndCor into the country’s premier industrial
property company.”

Mike Mullen added, “Blackstone is the largest real estate investor in the
world and IndCor is an integral part of its real estate strategy. I am looking
forward to being part of the team that helps it continue to grow into one of
the leading players in the industrial sector.”

During his 36 year career, Mike Mullen has developed or redeveloped over 70
million square feet of industrial facilities, and participated in over $8
billion of real estate transactions. Career highlights include the development
of three of the largest intermodals in North America, two for the Union
Pacific Railroad and one for the BNSF Railway. Mike was the 2007 national
Chairman of NAIOP, the 14,000 member Commercial Real Estate Development
Association. In 2011 Mike accepted Development Magazine’s “Developer of the
Year” award on behalf of CenterPoint. He is a graduate of Loyola University
and has completed Northwestern University’s Kellogg Graduate School of
Management Advanced Executive Program.

About Blackstone

Blackstone is one of the world’s leading investment and advisory firms. We
seek to create positive economic impact and long-term value for our investors,
the companies we invest in, the companies we advise and the broader global
economy. We do this through the commitment of our extraordinary people and
flexible capital. Our alternative asset management businesses include the
management of private equity funds, real estate funds, hedge fund solutions,
credit-oriented funds and closed-end funds. The Blackstone Group also provides
various financial advisory services, including financial and strategic
advisory, restructuring and reorganization advisory and fund placement
services. Further information is available at www.blackstone.com. Follow us on
twitter @blackstone.

About IndCor Properties

IndCor Properties, Inc. (IndCor) is one of the premier real estate companies
in the United States focusing on the ownership and management of industrial
properties. As a comprehensive real estate operator, IndCor currently owns and
manages over 83 million square feet located in 40 key logistics markets in 23
states. IndCor is headquartered in Chicago, Illinois with regional offices
located in Denver, Colorado and Doylestown, Pennsylvania. IndCor was formed in
2010 as a portfolio company of The Blackstone Group (NYSE: BX), a leading
global investment and advisory firm.


Peter Rose, 212-583-5871
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