Deals
Blackstone Said to Score $2 Billion Profit on IndCor Sale
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Blackstone Group LP stands to make a profit of more than $2 billion by selling warehouse owner IndCor Properties Inc. to Singapore’s GIC Pte, according to a person with knowledge of the matter.
Blackstone, the world’s largest manager of alternative assets such as private equity and real estate, said this week that it will sell IndCor to the sovereign-wealth fund for $8.1 billion. The deal pre-empted a planned initial public offering for the property company, which said in September it had confidentially filed with the Securities and Exchange Commission to go public as a real estate investment trust.