Retail Opportunity Investments Corp. Stockholders Approve Acquisition by Blackstone

Retail Opportunity Investments Corp. (ROIC), a real estate investment trust specializing in grocery-anchored shopping centers across the West Coast, has announced that its stockholders have approved an all-cash acquisition by Blackstone Real Estate Partners X. This approval was given during a special meeting of stockholders. The transaction, valued at $17.50 per share, is expected to be completed by February 12, 2025, contingent upon the satisfaction or waiver of customary closing conditions. ROIC, which owns 93 shopping centers totaling approximately 10.5 million square feet, is a significant player in real estate on the West Coast. Despite the forward-looking risks associated with the transaction, including potential litigation, business disruption, and adverse reactions to the announcement, the deal marks a significant development in the real estate investment sector. The Company detailed these risks in a recent communication, emphasizing various factors that could influence the completion and impact of the acquisition.