Blackstone Real Estate to take Retail Opportunity private in $4 bln deal
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Blackstone Real Estate has agreed to acquire Retail Opportunity Investments Corp (ROIC) in an all-cash deal valued at approximately $1.4 billion, including debt. The acquisition, priced at $20.50 per share, represents a 5.5% premium over ROIC's last closing price. The deal is expected to close in the first quarter of 2025. ROIC, which owns over 90 grocery-anchored shopping centers, has seen a 13.8% increase in same-space new leases in Q3. Blackstone is a major player in real estate investment, with $204.1 billion in assets as of June.
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