Blackstone Makes $8.1B Sale
Blackstone has announced the $8.1B sale of the industrial landlord IndCor Properties to GIC, Singapore's sovereign wealth fund. The Chicago-based IndCor's portfolio spans 117M SF of warehouses, distribution centers and other industrial properties. The move continues a selling spree at Blackstone, which is preparing to unload Manhattan's 1095 Sixth Avenue for $2.25B in what will be the second biggest office building sale in American history. The investment behemoth created IndCor in 2010 and built it through 18 acquisitions and had planned its IPO before announcing the trade, which is expected to close in the first quarter of 2015.