Shopping Center Owner in Talks to Be Bought for $2B

Blackstone (New York), a private equity firm, is in talks to acquire Retail Opportunity Investments Corp. (San Diego, Calif.), owner of U.S. shopping centers and strip malls, for a market value of around $2 billion, according to Reuters.

Retail Opportunity Investments Corp. owns 95 shopping centers in the U.S. including strip mails and pharmacy chains, spanning 10.7 million square feet. Retail Opportunity Investments Corp.’s net income, was reported last week to be $18.4 million for the first six months of 2024. This marked an increase from this time last year at $18.1 million.

Blackstone’s interest in acquiring Retail Opportunity Investments Corp. comes after the company’s shares lost more than 10% of their value over the past year.