July 7, 2017 Comments Off on Blackstone Acquiring IMC, 12M-SF Showroom Portfolio  Views: 1635 National News, Top National

Blackstone Acquiring IMC, 12M-SF Showroom Portfolio 

Funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities are set to acquire International Market Centers, Inc. (IMC), which owns and operates 12.2 million square feet of world-class exhibition space in High Point, NC and Las Vegas, NV. The company was held by Bain Capital Private Equity, LP and funds managed by Oaktree Capital Management, L.P.

IMC’s Robert Maricich says, “While Bain Capital and Oaktree have been great partners for the past six years, we look forward to this new relationship and our next phase of growth. Blackstone is a firm with a strong track record of enabling transformational change and shares our long-term vision for the business.”

Fireside Investments is also expected to partner with Blackstone in the acquisition. Financial terms of the transaction, which is expected to close Q3 2017, were not disclosed.

The facilities include premier showroom space for the furnishings, home decor and gift industries.

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