Deals
Blackstone Adds to Biggest Year for REIT IPOs Since 2004
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The debut of Brixmor Property Group Inc. is adding fuel to what is already the biggest year for U.S. real estate initial public offerings in almost a decade.
The No. 2 U.S. shopping-center landlord, owned by Blackstone Group LP, raised $825 million in its IPO today, excluding extra shares for underwriters, the largest IPO of a retail real estate investment trust since Simon Property Group Inc. in 1993. Brixmor sold 41.25 million shares at $20 apiece after offering 37.5 million for $19 to $21 each.