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

Retail Opportunity Investments

30/07/2024 16:43

By Anirban Sen
       July 30 (Reuters) - Private equity firm Blackstone
 BX.N  is in early-stage talks to acquire Retail Opportunity
Investments Corp (ROIC)  ROIC.O , an owner of U.S. shopping
centers with a market value of about $1.7 billion, according to
people familiar with the matter.
    Blackstone's interest comes after ROIC's shares lost more
than 10% of their value in the last 12 months, underperforming
some other real estate investment trusts. The buyout firm's
approach indicates it sees values in ROIC's properties, which
mainly house supermarkets and drugstores.
    No deal is certain and another bidder for ROIC could emerge,
the sources said, requesting anonymity because the matter is
confidential. 
    Blackstone declined to comment. ROIC did not immediately
respond to requests for comment. 

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