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Exclusive-Blackstone in advanced talks to acquire shopping center owner Retail Opportunity, sources say
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Exclusive-Blackstone in advanced talks to acquire shopping center owner Retail Opportunity, sources say
Nov 3, 2024 3:41 PM

NEW YORK (Reuters) - Blackstone is in advanced talks to acquire Retail Opportunity Investments Corp ( ROIC ), 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.

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