Retail Opportunity Investments Corp. Secures Stockholder Approval for Blackstone Acquisition

Deal News | Feb 07, 2025 | EIN

Retail Opportunity Investments Corp. (ROIC) has announced the approval of its acquisition by Blackstone Real Estate Partners X following a special stockholder meeting. The all-cash purchase involves Blackstone acquiring all outstanding shares of ROIC at $17.50 per share, with the completion date set for around February 12, 2025. This merger agreement is contingent on the fulfillment of certain conditions, commonly encountered in such significant transactions. ROIC operates as a real estate investment trust specializing in grocery-anchored shopping centers across West Coast metropolitan areas. The risk and uncertainties related to the transaction have been addressed, including potential litigation and disruptions due to the merger. The deal is part of Blackstone's strategic interest in expanding its portfolio in the retail real estate sector.

Sectors

Real Estate Investment Trusts (REITs)
Private Equity

Geography

United States – The transaction involves Retail Opportunity Investments Corp., a U.S.-based company, and the acquisition by U.S.-headquartered Blackstone.
West Coast – ROIC focuses its real estate investments predominantly in metropolitan markets across the West Coast of the United States.

Industry

Real Estate Investment Trusts (REITs) – Retail Opportunity Investments Corp. operates as a REIT, specializing in the acquisition and management of shopping centers primarily on the West Coast.
Private Equity – Blackstone Real Estate Partners is a private equity firm involved in the acquisition of publicly-traded Retail Opportunity Investments Corp.

Financials

17.50 – The acquisition price per share for ROIC's outstanding common stock in the transaction with Blackstone.

Participants

Name	Role	Type	Description
Retail Opportunity Investments Corp. (ROIC)	Target Company	Company	A publicly traded REIT specializing in grocery-anchored shopping centers located in densely-populated metropolitan markets across the West Coast.
Blackstone Real Estate Partners X	Bidding Company	Company	A division of Blackstone involved in the acquisition process of Retail Opportunity Investments Corp.
U.S. Securities and Exchange Commission (SEC)	Government	Government	The SEC will receive a report regarding the stockholder vote to approve the acquisition, as filed by ROIC.