Blackstone and Retail Opportunity Investments Corp. (ROIC) announced that they have entered into a definitive agreement under which Blackstone Real Estate Partners X will acquire all outstanding common shares of ROIC for $17.50 per share in an all-cash transaction valued at approximately $4 billion, including outstanding debt. ROIC’s portfolio consists of 93 high-quality, grocery-anchored retail properties totaling 10.5 million square feet concentrated in Los Angeles, Seattle, San Francisco and Portland, Ore.
The purchase price represents a premium of 34 percent to ROIC’s closing share price on July 29, 2024, the last trading day before news reports of a potential sale.
“We are pleased to reach this agreement with Blackstone, as it will provide significant and certain value to our stakeholders,” said Stuart A. Tanz, president and CEO at ROIC. “This transaction represents the culmination of the steadfast commitment and extraordinary dedication of our talented
