Blackstone Eyes Acquisition of Retail Opportunity Investments Corp

Blackstone, a private equity firm, is in preliminary discussions to acquire Retail Opportunity Investments Corp (ROIC), which owns U.S. shopping centers valued at $1.7 billion. ROIC's shares have dropped over 10% in the past year, prompting Blackstone's interest. No deal is confirmed, and other bidders may emerge.

Private equity firm Blackstone is currently in early-stage negotiations to acquire Retail Opportunity Investments Corp (ROIC), a U.S.-based shopping center owner with a market value approximating $1.7 billion, according to sources familiar with the discussions.

Blackstone's interest has been piqued following a more than 10% decline in ROIC's share value over the past year, which has lagged behind other real estate investment trusts. This indicates Blackstone sees potential in ROIC's assets, primarily tenanted by supermarkets and drugstores. However, sources have cautioned that the deal is not guaranteed, and another potential bidder could still surface, stressing the confidential nature of the matter.

Blackstone has not released any comments, and ROIC has yet to respond to requests for a statement.