The private equity firm Blackstone (NYSE:BX) is reportedly in discussions to acquire Retail Opportunity Investments Corp (NASDAQ: ROIC), a real estate investment trust (REIT) focused on retail properties in the Western states.
According to a Reuters report sourced from unnamed “people familiar with the matter,” ROIC has a market value of close to $2 billion – but its shares lost more than 10% of their value in the last 12 months. ROIC owns 95 shopping centers covering roughly 10.7 million square feet.
New York City-based Blackstone has primarily focused on warehouses, rental housing and data centers, which accounts for roughly 75% of its global real estate equity portfolio.
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