Blackstone is reportedly in advanced discussions to acquire Retail Opportunity Investments Corp, an owner of U.S. shopping centers, as reported by sources familiar with the situation. Should these negotiations progress successfully, a finalized deal could be reached in the coming weeks, according to sources who requested anonymity due to the confidential nature of the discussions.
Blackstone is anticipated to have the upper hand in the acquisition process for ROIC, despite interest from other private equity firms, including Bain Capital. Earlier this year, Bain Capital’s real estate division and retail investor 11North Partners established a partnership focused on acquiring and managing open-air retail centers across North America.
The same sources emphasized that a definitive transaction with Blackstone is not assured, and there remains the possibility that another competitor might emerge. Requests for comments sent to Blackstone, ROIC, and Bain were not immediately answered.
In July, Reuters had reported that Blackstone was in preliminary talks to acquire ROIC.