Blackstone is close to completing a takeover of San Diego-based Retail Opportunity Investments Corp. (ROIC) and its portfolio of over 90 shopping centers across the western U.S., according to a report from Reuters.
The firm, which has been in talks with ROIC since July, is likely to prevail in the auction for the REIT, which has drawn interest from other private equity firms, including Bain Capital, multiple sources have told the news service..
If successful, Blackstone could finalize the acquisition of ROIC, which has an estimated market value of $3.4 billion, in the coming weeks, the report said. However, sources cautioned that other real estate investment firms could still secure the deal instead.
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