AcquisitionBlackstone Real Estate Partners X will acquire shares of ROIC for $17.50 cash, representing a 34% premium to the share price when news of a potential sale first surfaced.
Market SentimentIncreased demand for retail bodes well, with a noticeable increase in institutional interest in the open-air retail space.
Portfolio QualityROIC's predominantly smaller-format, grocery-anchored shopping center portfolio in California and the Pacific Northwest consists of high-quality centers that generate steady, predictable cash flow.