{"id":1004108591,"date":"2014-12-02T08:48:19","date_gmt":"2014-12-02T16:48:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004108591"},"modified":"2022-12-07T21:04:56","modified_gmt":"2022-12-08T05:04:56","slug":"blackstone-sells-indcor-properties-to-gic-for-8b","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-indcor-properties-to-gic-for-8b\/","title":{"rendered":"Blackstone Sells IndCor Properties to GIC for $8B"},"content":{"rendered":"

By Anna Spiewak, Senior News Editor<\/em><\/p>\n

\"Tim<\/a>

Tim Beaudin, IndCor Properties<\/p><\/div>\n

In one of the largest industrial property transactions to date, Blackstone has agreed to sell IndCor Properties to GIC, Singapore’s\u00a0\u00a0sovereign wealth fund, for $8.1 billion.<\/p>\n

Upon this announcement,\u00a0IndCor, which operates 117 million square feet of high-quality industrial properties throughout United States, will no longer be pursuing an IPO.<\/p>\n

\u201cWe built IndCor through 18 acquisitions to be one of the largest industrial real estate companies in the United States,” said Tim Beaudin, IndCor CEO in a news release sent Monday night. “We are excited about the company\u2019s future prospects under new long-term ownership with GIC.\u201d<\/p>\n

IndCor\u2019s assets are principally located in desirable in-fill industrial markets, which benefit from proximity to key domestic and global transportation hubs, major logistics and warehouse\/distribution networks, as well as large population concentrations, according to the news release.<\/p>\n

Closing is expected to occur in the first quarter of 2015. Eastdil Secured (a wholly-owned subsidiary of Wells Fargo & Co.), Citigroup, Barclays and RBC Capital Markets acted as advisors to Blackstone.<\/p>\n","protected":false},"excerpt":{"rendered":"

In one of the largest industrial property transactions to date, Blackstone has agreed to sell IndCor Properties to GIC, Singapore’s sovereign wealth fund, for $8 billion.<\/p>\n","protected":false},"author":952,"featured_media":1004108646,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004108591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nBlackstone Sells IndCor Properties to GIC for $8B - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-indcor-properties-to-gic-for-8b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone Sells IndCor Properties to GIC for $8B\" \/>\n<meta property=\"og:description\" content=\"In one of the largest industrial property transactions to date, Blackstone has agreed to sell IndCor Properties to GIC, Singapore's sovereign wealth fund, for $8 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-indcor-properties-to-gic-for-8b\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-12-02T16:48:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:04:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/12\/Tim-B.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"511\" \/>\n\t<meta property=\"og:image:height\" content=\"364\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-indcor-properties-to-gic-for-8b\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-indcor-properties-to-gic-for-8b\/\",\"name\":\"Blackstone Sells IndCor Properties to GIC for $8B - 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