Blackstone in advanced talks to acquire shopping center owner Retail Opportunity, sources say

Retail Opportunity Investments

03/11/2024 23:10

By Anirban Sen
       NEW YORK, Nov 3 (Reuters) - Blackstone  BX.N  is in
advanced talks to acquire Retail Opportunity Investments Corp
 ROIC.O , which owns U.S. shopping centers, according to people
familiar with the matter.
    If the talks are successful, a deal could be finalized in
the coming weeks, the sources said, requesting anonymity as the
matter is confidential.
    Blackstone is likely to prevail in the auction for ROIC that
had also attracted interest from other private equity firms,
including Bain Capital, the sources said. Earlier this year,
Bain Capital's real estate arm and retail investor 11North
Partners had formed a partnership to acquire and operate
open-air retail centers in North America. 
    The sources cautioned that a transaction with Blackstone is
not guaranteed and it's possible that a rival suitor could
emerge. 
    Blackstone, ROIC and Bain did not immediately respond to
requests for comment.
    Reuters reported in July that Blackstone was in early-stage
talks to acquire ROIC. 


 (Reporting by Anirban Sen in New York; Editing by Lisa
Shumaker)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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