Blackstone has completed its acquisition of Retail Opportunity Investments finalizing the transaction at $17.50 per share in an all-cash deal valued at approximately $4 billion, including outstanding debt.
The acquisition was executed through Blackstone Real Estate Partners X. J.P. Morgan served as ROIC’s exclusive financial advisor, while Clifford Chance US LLP provided legal counsel. Blackstone received financial advisory services from Morgan Stanley & Co. LLC, BofA Securities, Citigroup, Wells Fargo, Newmark, and Eastdil Secured. Simpson Thacher & Bartlett LLP acted as Blackstone’s legal counsel.
Retail Opportunity Investments Corp. (ROIC) Overview
ROIC is a fully integrated, self-managed real estate investment trust (REIT) that focuses on the acquisition, ownership, and management of grocery-anchored shopping centers in metropolitan markets on the West Coast. As of September 30, 2024, the company owned 93 shopping centers covering approximately 10.5 million square feet. ROIC holds investment-grade corporate debt ratings from Moody’s Investor Services, S&P Global Ratings, and Fitch Ratings.
Blackstone Real Estate Overview
Blackstone is a global real estate investment firm with $315 billion of investor capital under management. The firm operates across various sectors, including logistics, data centers, residential, office, and hospitality. Its opportunistic funds focus on acquiring underutilized, well-located assets worldwide, while its Core+ business invests in stabilized real estate assets. Blackstone also manages real estate debt through Blackstone Mortgage Trust .
