The Firm is representing Blackstone Real Estate Partners VI and VII in connection with the sale of its wholly-owned U.S. industrial platform, IndCor Properties (“IndCor”), to affiliates of GIC, Singapore’s sovereign wealth fund, for $8.1 billion. IndCor owns and operates a portfolio of 117 million square feet of high-quality industrial properties in key markets throughout the United States. IndCor’s 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. Over the past several years, the Firm has represented Blackstone and IndCor in more than 15 separate transactions as IndCor grew to be one of the largest industrial real estate companies in the United States. The transaction is expected to close in the first quarter of 2015.
The Simpson Thacher team includes Sas Mehrara, Patrick Dowd, Brandon Greer, Justin Vilinsky, Michael Goldberg and Leanne Welds (Real Estate); Nancy Mehlman and Jodi Sackel (Tax); Greg Grogan, Jennifer Pepin and Brittany McCants (Executive Compensation and Employee Benefits); Peter Thomas and David Shogren (Regulatory); Steve DeLott (Insurance); and Jonathan Karen and Shannon O’Sullivan (Funds).