The company, which operates more than 500 shopping ventures in the US, plans to sell 37.5m shares worth as much as $787.5m.
It will trade on the New York Stock Exchange under the symbol BRX.
JP Morgan, Merrill Lynch, Citigroup and Wells Fargo serve as underwriters for the IPO.
Earlier this month another company backed by Blackstone, hotel chain Extended Stay America, upped the amount it plans to raise in an IPO to $500m from $100m.
The business, which is also backed by Centerbridge Partners and hedge fund Paulson & Co, is North America’s largest owner-operator of company-branded hotels with 682 properties.
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