Brixmor Eyes $800M Target in IPO

NEW YORK CITY-Brixmor Property Group, the shopping center operator formed by the Blackstone Group in 2011, said in an SEC filing Thursday that it intends to sell 37.5 million common shares in its IPO. With initial pricing somewhere between $19 and $21 per share, that would mean raising at least $712.5 million and as much as $787.5 million from that offering, not including an overallotment for underwriters.

The SEC has not yet declared the offering plan effective. Brixmor says it intends to trade as a REIT on the New York Stock Exchange under the symbol BRX. Blackstone, which formed Brixmor after acquiring Centro Properties Group‘s US assets for $9 billion, will continue to own a majority of the voting power of shares.