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.


Devdiscourse News Desk | Updated: 04-11-2024 05:18 IST | Created: 04-11-2024 05:18 IST
Blackstone Eyes Major Stake in Retail Opportunity: A Shopping Center Power Move

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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