Brixmor Gains After Property Firm IPO Raises $825 Million
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Brixmor Property Group Inc., the second-largest U.S. shopping-center landlord, climbed 2 percent in its trading debut after raising $825 million in an increased initial public offering.
Brixmor closed at $20.40 after selling 41.25 million shares yesterday for $20 each, the midpoint of its proposed range of $19 to $21. The property company increased the size of the sale from 37.5 million shares. The proceeds will be used to repay debt, according to a regulatory filing by the New York-based real estate investment trust.