CONSHOHOCKEN, PA-Blackstone Group is preparing an initial public offering for shopping center owner Brixmor Property Group Inc.
Analysts believe that the IPO could raise up to $905 million for the former Centro Properties, according to the Wall Street Journal.
Blackstone is expected to take Brixmor and perhaps three other real estate companies public over the next year. The company stated last week in a regulatory filing that it expects to offer up to 43 million shares of Bixmor common stock for between $19 and $21 a share.
The deal would be the largest-ever IPO of a retail real-estate company, besting current record holder Simon Property Group, which raised $840 million in a 1993 offering.
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