Michael Mullen to be Senior Advisor and Join Board of Blackstone Real Estate Portfolio Company IndCo

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Michael Mullen to be Senior Advisor and Join Board of Blackstone Real Estate Portfolio Company IndCor Properties

NEW YORK & CHICAGO--(BUSINESS WIRE)-- Blackstone (NYS: BX) and IndCor Properties, Inc. ("IndCor" ) today announced that Mike Mullen will be joining IndCor's board of directors, effective January 1, 2013. He will also serve as a Senior Advisor to IndCor, with a focus on growing the company's 83 million square foot national industrial platform. Mr. Mullen was most recently CEO and then Vice Chairman of CenterPoint Properties, a company with a major presence in the development, acquisition and management of industrial properties and transportation infrastructure.

Frank Cohen, a Senior Managing Director in Blackstone's real estate business, said, "We are delighted to have someone with the depth of Mike's experience join IndCor. He is one of the most experienced investors and managers of industrial real estate in the United States." Tim Beaudin, CEO of IndCor, added, "Mike is the perfect addition to our talented management platform and will be invaluable as we build IndCor into the country's premier industrial property company."


Mike Mullen added, "Blackstone is the largest real estate investor in the world and IndCor is an integral part of its real estate strategy. I am looking forward to being part of the team that helps it continue to grow into one of the leading players in the industrial sector."

During his 36 year career, Mike Mullen has developed or redeveloped over 70 million square feet of industrial facilities, and participated in over $8 billion of real estate transactions. Career highlights include the development of three of the largest intermodals in North America, two for the Union Pacific Railroad and one for the BNSF Railway. Mike was the 2007 national Chairman of NAIOP, the 14,000 member Commercial Real Estate Development Association. In 2011 Mike accepted Development Magazine's "Developer of the Year" award on behalf of CenterPoint. He is a graduate of Loyola University and has completed Northwestern University's Kellogg Graduate School of Management Advanced Executive Program.

About Blackstone

Blackstone is one of the world's leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-oriented funds and closed-end funds. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on twitter @blackstone.

About IndCor Properties

IndCor Properties, Inc. (IndCor) is one of the premier real estate companies in the United States focusing on the ownership and management of industrial properties. As a comprehensive real estate operator, IndCor currently owns and manages over 83 million square feet located in 40 key logistics markets in 23 states. IndCor is headquartered in Chicago, Illinois with regional offices located in Denver, Colorado and Doylestown, Pennsylvania. IndCor was formed in 2010 as a portfolio company of The Blackstone Group (NYS: BX) , a leading global investment and advisory firm.

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Blackstone
Peter Rose, 212-583-5871
Peter.Rose@Blackstone.com

KEYWORDS:   United States  North America  Illinois  New York

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