Funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities entered into a definitive agreement to acquire International Market Centers, Inc., a large owner and operator of premier showroom space for the furnishings, home decor and gift industries, from Bain Capital Private Equity, LP and funds managed by Oaktree Capital Management, L.P.
Fireside Investments is also expected to partner with Blackstone in the transaction, which is expected to close during the third quarter of 2017, subject to customary closing conditions.
The financial terms of the transaction were not disclosed.
Led by Robert Maricich, Chief Executive Officer, International Market Centers, Inc. is the world’s largest owner and operator of premier showroom space for the furnishings, home decor and gift industries, with 12.2 million square feet of world-class exhibition space in High Point, NC and Las Vegas, NV. The company’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home decor and gift industries.