Blackstone Eyes Acquisition of Retail Opportunity Investments Corp

Blackstone is in advanced discussions to acquire Retail Opportunity Investments Corp, a company owning U.S. shopping centers. The deal, which could finalize in weeks, saw interest from Bain Capital and others. However, no guarantee exists, as competition remains possible.

Blackstone is reportedly in advanced negotiations to purchase Retail Opportunity Investments Corp, which manages U.S. shopping centers. Sources close to the situation have revealed that a deal could be finalized within weeks, although they have asked to remain anonymous due to the confidentiality of the talks.

The acquisition process has seen significant interest from various parties, with Bain Capital among the private equity firms showing preliminary interest. Bain's real estate arm, alongside retail investor 11North Partners, had previously expressed their ambition to manage open-air retail centers in North America.

Despite Blackstone being favored in the bidding process, there remains a possibility that other potential buyers could step forward. As the discussions continue, requests for comment from Blackstone, ROIC, and Bain have gone unanswered. In July, early reports surfaced regarding Blackstone's potential move to acquire ROIC.

(With inputs from agencies.)