{"id":14733,"date":"2017-07-10T08:28:18","date_gmt":"2017-07-10T12:28:18","guid":{"rendered":"https:\/\/qa.bluevaultpartners.com\/?post_type=news&#038;p=14733"},"modified":"2023-11-17T16:40:36","modified_gmt":"2023-11-17T21:40:36","slug":"blackstone-to-buy-exhibit-space-provider","status":"publish","type":"post","link":"https:\/\/qa.bluevaultpartners.com\/blackstone-to-buy-exhibit-space-provider\/","title":{"rendered":"Blackstone to Buy Exhibit Space Provider"},"content":{"rendered":"<p>Barbra Murray | <a href=\"https:\/\/www.commercialsearch.com\/news\/\" target=\"_blank\" rel=\"noopener\">Commercial Property Executive<\/a><\/p>\n<p>Global investment giant Blackstone inks yet another deal that will expand its real estate holdings. Funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities have committed to acquiring International Market Centers Inc., the largest owner and operator of premier showrooms space for the furnishings, home decor and gift industries in the U.S. Blackstone will purchase the company, which boasts a portfolio of 12.2 million square feet of exhibition space in High Point, N.C., and Las Vegas, from Bain Capital Private Equity LP and funds managed by Oaktree Capital Management LP.<\/p>\n<p>The parties involved aren\u2019t disclosing the price, however there are some figures that can put the transaction in perspective. IMC obtained $610 million for the refinancing of its senior secured debt and revolving credit facility in November 2016, and the company does have a billion-dollar history. In 2011, Bain and Oaktree invested $1 billion to combine the High Point and Las Vegas showrooms, totaling 10.6 million square feet at the time, and create the business-to-business platform. Currently, IMC\u2019s collection of properties includes the World Market Center in Las Vegas and Market Square Complex in High Point.&nbsp;<\/p>\n<p>Now, Blackstone will help take the company to a new level.&nbsp;<em>\u201cBy leveraging the scale of Blackstone\u2019s platform and expertise in real estate investing, we look forward to partnering with IMC to help drive the company\u2019s continued growth in the years ahead,\u201d<\/em>&nbsp;Tyler Henritze, senior managing director with Blackstone\u2019s real estate group, said in a prepared statement.<\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat\" style=\"background-color: #33809e; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/bit.ly\/2v7tn7t\">Read Full Article Here<\/a><\/p>\n<div style=\"clear:both;\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The company will be joined by Firestone Investments in the acquisition of International Market Centers. The transaction is on track to close in the third quarter of 2017.<\/p>\n","protected":false},"author":1824,"featured_media":12628,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3010,2710,2739],"tags":[],"class_list":["post-14733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asset-manager-news","category-blackstone","category-nontraded-reit"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Blackstone to Buy Exhibit Space Provider - Blue Vault<\/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:\/\/qa.bluevaultpartners.com\/blackstone-to-buy-exhibit-space-provider\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone to Buy Exhibit Space Provider - Blue Vault\" \/>\n<meta property=\"og:description\" content=\"The company will be joined by Firestone Investments in the acquisition of International Market Centers. 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