Deals
Blackstone Sells Rest of Stake in Shopping-Center REIT Brixmor
- REIT replaced its CEO in February after accounting revelation
- Landlord’s shares have returned 55% since its 2013 IPO
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Blackstone Group LP sold its remaining 14 percent stake in Brixmor Property Group Inc., the U.S. shopping-center owner that it formed five years ago, through a stock offering and distribution of shares to partners at the firm.
Blackstone affiliates offered 42.4 million shares in a secondary offering, and issued the remaining 455,585 shares to partners, Brixmor said in a statement Wednesday. The landlord isn’t selling any shares and won’t receive any proceeds. JPMorgan Chase & Co. and Deutsche Bank Securities are the underwriters for the stock sale.