New York, New York, December 1, 2014 – Blackstone (NYSE:BX) today announced that funds affiliated with Blackstone Real Estate Partners VI & VII have agreed to sell their wholly-owned U.S. industrial platform, IndCor Properties (“IndCor”), to affiliates of GIC, Singapore’s sovereign wealth fund, for $8.1 billion. As a result of this transaction, IndCor will no longer be pursuing an IPO. 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.