Koyal Group Targets Largest Real Estate IPO in Recent Years
Jul. 22, 2013 - TOKYO, Japan -- On Thursday the 18th of July Blackstone Group LP filed with the Security and Exchange commission the initial public offering of one of its subsidiaries Brixmor Property Group, a real estate investment trust. They have announced that they are planning to raise $100 million in capital, but we here at Koyal Group believe that this figure is merely a place holder, and we value this IPO to be worth at least $13 billion including debt. It will be traded under the ticker symbol BRX on the New York Stock Exchange. America´s biggest banks have agreed to underwrite the deal, Bank of America, Citigroup, JP Morgan Chase and Wells Fargo are all signed on. They have not released any information pertaining to how many shares will be sold or the target price range.
Senior Vice President of Mergers and Acquisitions, Mr Peter Keller at Koyal Group said, “We have been expecting this IPO since May when Brixmor hired Michael Pappagallo, former Chief Operating Officer of the publicly traded Kimco Reality Corp, the largest American shopping centre landlord. I have a tremendous amount of confidence in Brixmor, we will be recommending this stock to all of clients who are looking for safe investment in the long or short term.”
Brixmor is the second largest owner of grocery-anchored community and local shopping centres in the United States. They are the largest landlord, by lease-able space of The Kroger Company, America´s largest grocery store chain. Their portfolio consists of over 500 properties across 39 states totalling more than 87 million square feet (8.1 square meters) of lease-able space. Blackstone Group LP is the largest private equity, alternative asset, and asset management firm in the world. They acquired a vast majority of Brixmor´s properties in 2011 when they purchased for $9.2 billion more than 700 properties from the distressed Australian shopping centre company, Centro Properties Group.
Blackstone Group is also planning to take is large up-scale hotel chain, Hilton Worldwide, public by the end of next year.
Based in Tokyo, Japan, Koyal Group is a boutique equity research house and has its foundations set in personal client advisor relationships, and despite being one of the largest equity research houses in Asia we are proud to say we maintain strong interpersonal links between our clients and their allocated advisors. This along with our approach to financial analysis has meant Koyal Group has grown year after year since 2003.
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