Blackstone Eyes Major Stake in Retail Opportunity: A Shopping Center Power Move
Blackstone is negotiating to acquire Retail Opportunity Investments Corp (ROIC), a company owning U.S. shopping centers valued at $3.4 billion. The deal, sought after by other firms like Bain Capital, may conclude soon. ROIC's value has grown, attracting Blackstone's interest amidst limited new retail space and rising rents.
In a strategic move, Blackstone is reportedly in advanced talks to acquire Retail Opportunity Investments Corp (ROIC), according to sources familiar with the matter. ROIC, which is valued at $3.4 billion including debt, owns numerous U.S. shopping centers.
If Blackstone prevails over potential rivals such as Bain Capital, a deal could be finalized in the coming weeks. The discussions highlight the growing demand for high-quality retail space amidst limited new construction.
With ROIC reporting a significant increase in net income and same-space leases, the acquisition could bolster Blackstone's real estate portfolio, which remains one of the world's largest with $336.1 billion in assets as of June.
(With inputs from agencies.)
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