1 Min Read
By Ilaina Jonas
NEW YORK, Sept 23 (Reuters) - Brixmor Property Group Inc , the neighborhood shopping center company that Blackstone Group LP plans to bring to the public market, said it intends to raise gross proceeds of $750 million in an initial public offering, according to a regulatory filing on Monday.
Brixmor, the real estate investment trust that owns 521 shopping centers anchored chiefly by supermarkets, also said it plans to add two independent members to its board: Michael Berman, chief financial officer of mall owner General Growth Properties Inc and Anthony Deering, former chief executive of The Rouse Co, which General Growth bought in 2004.
The IPO, which is expected to come in the fourth quarter, was initially filed in July.
Brixmor also said it added additional underwriters to the IPO, including Barclays PLC and Deutsche Bank Securities.