Blackstone's Brixmor raises $825 mln from IPO

Reuters

Oct 29 (Reuters) - Brixmor Property Group Inc, a shoppingcenter operator owned by Blackstone Group LP, priced itsenlarged initial public offering at the midpoint of its expectedrange, raising $825 million in proceeds.

The company sold 41.25 million shares in the offering at $20each, New York-based Brixmor said in a statement on Tuesday.

Brixmor, which is valued at about $4.4 billion at the IPOprice, had expected to sell 37.5 million shares at $19 to $21each.

Blackstone has moved aggressively to sell or take public itsreal estate assets. It filed in September to take U.S. hoteloperator Hilton Worldwide Inc public and also registered for anIPO of hotel chain Extended Stay America Inc.

Brixmor has 521 shopping centers, which span the countryfrom California to Maine.

Bank of America Merrill Lynch, Citigroup, JP Morgan, WellsFargo Securities and Barclays are among the lead underwritersfor the IPO.

Shares of the company are scheduled to begin trading on theNew York Stock Exchange under the symbol "BRX" on Wednesday.

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