GIC to buy indutrial property operator IndCor for $10.6b

IndCor will no longer pursue an IPO.

Blackstone today announced that funds affiliated with Blackstone Real Estate Partners VI & VII have agreed to sell their wholly-owned U.S. industrial platform, IndCor Properties, to affiliates of GIC, Singapore’s sovereign wealth fund, for US$8.1 billion ($10.6b).

In a release, Blackstone stated that as a result of this transaction, IndCor will no longer be pursuing an IPO.

IndCor owns and operates a portfolio of 117 million square feet of high-quality industrial properties in key markets throughout the United States.

SGX Mainboard-listed Global Logistic Properties earlier denied entering a deal to purchase IndCor. 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!