{"id":1004746552,"date":"2025-02-10T05:03:43","date_gmt":"2025-02-10T13:03:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004746552"},"modified":"2025-02-10T07:10:03","modified_gmt":"2025-02-10T15:10:03","slug":"4b-blackstone-retail-deal-gets-green-light","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/4b-blackstone-retail-deal-gets-green-light\/","title":{"rendered":"Blackstone\u2019s $4B Retail Deal Gets Green Light"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Head<\/a>
Jonathan Gray, president & COO of Blackstone. Image courtesy of Blackstone<\/em><\/figcaption><\/figure><\/div>\n\n\n

Retail Opportunity Investments Corp.’s shareholders have approved the proposed merger with Blackstone Real Estate Partners X. The all-cash deal, valued at about $4 billion, is expected to close this week.<\/p>\n\n\n\n

ROIC and Blackstone affiliates had entered the merger agreement<\/a> back in November, under which Blackstone would acquire all outstanding shares of ROIC’s common stock at $17.50 per share. The transaction represents a 34 percent premium over ROIC’s closing share price in July 2024. <\/p>\n\n\n\n

The retail REIT<\/a>‘s portfolio included 93 grocery-anchored properties totaling around 10.5 million square feet across Los Angeles, San Francisco, Seattle and Portland, Ore., at the end of September. <\/p>\n\n\n\n

Blackstone’s interest in ROIC underscores the positive outlook of necessity-based, grocery-anchored retail. This type of assets will continue to draw attention from both investors and developers, according to Commercial Property Executive<\/em>‘s 2025 retail outlook<\/a>. <\/p>\n\n\n\n

The Blackstone-ROIC merger, up close<\/h2>\n\n\n\n

Following the merger’s completion, ROIC will become a privately held entity under Blackstone\u2019s management.<\/p>\n\n\n\n

The deal will involve a two-phase process. First, Montana Merger Sub II LLC will merge with ROIC\u2019s operating partnership, Retail Opportunity Investments Partnership LP, according to the Trading Calendar. Then, Montana Merger Sub I Inc. will merge with ROIC, which will remain under Blackstone\u2019s control.<\/em> <\/p>\n\n\n\n

The agreement also includes measures for handling ROIC’s restricted stock awards and long-term incentive program units, ensuring that eligible employees receive fair compensation as the company undergoes a change in ownership.<\/p>\n\n\n\n

However, the transaction might still be subject to change, the same source shows. Should a superior offer emerge, ROIC\u2019s board has the right to accept the new proposal and pay Blackstone a $78 million termination fee. On the other hand, Blackstone has guaranteed a $239 million reverse termination fee if it fails to complete the deal under the terms of the agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"

This REIT’s shareholders approved the all-cash transaction.<\/p>\n","protected":false},"author":3014,"featured_media":1004527531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,1594,21749,1609,1610,15],"tags":[32892],"class_list":["post-1004746552","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-los-angeles","category-retail","category-san-francisco","category-seattle","category-west","tag-blackstone"],"acf":[],"yoast_head":"\nBlackstone\u2019s $4B Retail Deal Gets Green Light - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"ROIC's shareholders approved the company's merger with Blackstone Real Estate Partners X in an all-cash deal.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/4b-blackstone-retail-deal-gets-green-light\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blackstone\u2019s $4B Retail Deal Gets Green Light\" \/>\n<meta property=\"og:description\" content=\"ROIC's shareholders approved the company's merger with Blackstone Real Estate Partners X in an all-cash deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/4b-blackstone-retail-deal-gets-green-light\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-10T13:03:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-10T15:10:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Gray-Jon_HIGH-RESOLUTION-800x620-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/4b-blackstone-retail-deal-gets-green-light\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/4b-blackstone-retail-deal-gets-green-light\/\",\"name\":\"Blackstone\u2019s $4B Retail Deal Gets Green Light - 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