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M&A Deal Summary

The Blackstone Group Acquires Retail Opportunity Investments

On November 6, 2024, private equity firm The Blackstone Group acquired real estate company Retail Opportunity Investments for 4.0B USD

Acquisition Highlights
  • This is The Blackstone Group’s 12th transaction in the Real Estate sector.
  • This is The Blackstone Group’s 41st largest (disclosed) transaction.
  • This is The Blackstone Group’s 215th transaction in the United States.
  • This is The Blackstone Group’s 19th transaction in California.

M&A Deal Summary
Date 2024-11-06
Target Retail Opportunity Investments
Sector Real Estate
Buyer(s) The Blackstone Group
Deal Type Going Private
Deal Value 4.0B USD
Advisor(s) J.P. Morgan Securities (Financial)
Clifford Chance (Legal)

Target

Retail Opportunity Investments

San Diego, California, United States
Retail Opportunity Investments is a fully integrated real estate company that intends to qualify as a REIT for U.S. federal income tax purposes. The company is focused on acquiring, owning, leasing, repositioning, and managing a diverse portfolio of necessity-based retail properties, including primarily well-located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. Retail Opportunity Investments is based in San Diego, California.

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Buyer(S) 1

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 394.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York, New York.

DEAL STATS #
Overall 342 of 362
Sector: Real Estate M&A 12 of 12
Type: Going Private M&A Deals 39 of 41
State: California M&A 19 of 22
Country: United States M&A 215 of 230
Year: 2024 M&A 16 of 20
Size (of disclosed) 41 of 183
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-24 Smartsheet

Bellevue, Washington, United States

Smartsheet is a cloud‑based work management platform designed to help teams plan, track, automate, and report on work across projects and workflows. The Company offers a no‑code platform that integrates with existing systems and scales from individual teams to enterprise portfolios. Smartsheet was founded in 2005 and is based in Bellevue, Washington.

Buy $8.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-19 Jersey Mike s Subs

Manasquan, New Jersey, United States

Jersey Mike’s Subs is a franchisor of sub sandwich restaurants. The company serves fresh sliced/fresh grilled subs on in-store freshly baked bread. Jersey Mike's Subs was founded in 1956 and is based in Manasquan, New Jersey.

Buy $8.0B
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