Blackstone Group announced that funds managed by Blackstone Real Estate Partners and Blackstone Tactical Opportunities entered into a definitive agreement to acquire International Market Center. Financial terms of the transaction were not disclosed.
The sellers were Bain Capital Private Equity, and funds managed by Oaktree Capital Management.
Fireside Investments is also expected to partner with Blackstone in the acquisition.
International Market Centers is an 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.
The transaction is expected to close during the third quarter of 2017.
