{"id":1004758380,"date":"2025-05-19T04:38:49","date_gmt":"2025-05-19T12:38:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004758380"},"modified":"2025-05-20T05:08:59","modified_gmt":"2025-05-20T13:08:59","slug":"blackstone-creates-new-brand","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-creates-new-brand\/","title":{"rendered":"Blackstone Creates Dealmaking Powerhouse"},"content":{"rendered":"\n<p>Investment powerhouse Blackstone has combined three of its portfolio companies to create Perform Properties, a new entity\/brand encompassing EQ Office, ShopCore Properties and Retail Opportunity Investments Corp.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004758388\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-creates-new-brand\/alex_vouvalides\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;CHRIS OZER&quot;,&quot;camera&quot;:&quot;Canon EOS R5&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Alex_Vouvalides\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Alex Vouvalides, who was CEO of ShopCore and EQ Office, has taken the same role at Perform Properties. Image courtesy of EQ Office&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg?w=1024\" alt=\"Alex Vouvalides, CEO of Perform Properties\" class=\"wp-image-1004758388\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Alex_Vouvalides.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Alex Vouvalides, who was CEO of ShopCore and EQ Office, has taken the same role at Perform Properties. <em>Image courtesy of EQ Office<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Blackstone itself appears to have not yet made an official announcement on its plans.<\/p>\n\n\n\n<p>Alex Vouvalides, who was CEO of ShopCore and EQ Office, has taken the same role at Perform.<\/p>\n\n\n\n<p>\u201cBorn from the combined strength of ShopCore, ROIC and EQ Office, Perform brings together decades of experience across office and retail\u2014united by a shared commitment to creating spaces that genuinely support the people and businesses they\u2019re built for.\u201d Vouvalides wrote in a LinkedIn post Friday.<\/p>\n\n\n\n<p>He also touted Perform\u2019s total of more than 33 million square feet of office and retail space across the U.S.<\/p>\n\n\n\n<p>Of Perform\u2019s three pillars, ROIC is the newcomer. Blackstone Real Estate Partners X had agreed last November to <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-to-acquire-retail-opportunity-investments-corp-for-4b\/\">acquire ROIC for $4 billion<\/a> in an all-cash transaction, an amount that represented a 34 percent premium to ROIC\u2019s share price the previous July. ROIC\u2019s portfolio comprised 93 grocery-anchored retail properties totaling 10.5 million square feet across four major West Coast metros.<\/p>\n\n\n\n<p>That\u2019s apparently in addition to ShopCore\u2019s 150-plus properties totaling more than 19 million square feet of open-air retail in more than 30 markets nationwide.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-transactions-larger-and-smaller\">Transactions larger and smaller<\/h2>\n\n\n\n<p>Last October, EQ Office <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstones-eq-office-sells-san-diego-campus-for-77m\/\">sold Highland Corporate Center<\/a>, a 211,000-square-foot office campus in San Diego, to a joint venture between Harbor Associates and F&amp;F Capital Group for $77 million. EQ Office had acquired the property as part of a $3.3 billion portfolio transaction encompassing 136 properties in two dozen metros nationwide.<\/p>\n\n\n\n<p>In a sign of Blackstone\u2019s breadth, if any such were needed, the company just last week <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-lends-925m-for-data-center-expansion\/\">provided $925 million in debt financing<\/a> to Internet service provider, and King Street affiliate, Colovore, which will deploy the funding to develop new liquid-cooled data centers in multiple markets, starting with Reno, Nev.; Chicago; and Austin, Texas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Perform Properties will bring together multiple companies.<\/p>\n","protected":false},"author":882,"featured_media":1004758388,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,23891,21742,21747,21749],"tags":[32892,43400,51753],"class_list":["post-1004758380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-national","category-latest","category-office","category-retail","tag-blackstone","tag-eq-office","tag-shopcore-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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