Blackstone Group LP is considering an initial public offering of its Brixmor Property Group shopping center unit by year’s end, taking advantage of a stock-market rally as it starts to sell real estate assets.
A share sale as a real estate investment trust is possible by the end of 2013 or early next year, said two people with knowledge of the firm’s plans, who asked not to be identified because the process is private. Brixmor last week named a new financial chief, a move some analysts saw as presaging an IPO. The assets that form the core of Brixmor were acquired in the $9 billion purchase of U.S. shopping centers from Australia’s Centro Properties Group in 2011.
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