Newmark Group announced on February 14, 2025, that it acted as lead commercial real estate advisor to Blackstone in its acquisition of Retail Opportunity Investments Corp (ROIC). The transaction closed on February 12, with a total value of approximately $4 billion, including outstanding debt.
Blackstone Real Estate Partners X acquired all outstanding common shares of ROIC for $17.50 per share in an all-cash transaction. ROIC's portfolio consisted of 93 high-quality, grocery-anchored retail properties totaling 10.5 million square feet.
Newmark Co-Head of U.S. Capital Markets Doug Harmon, Head of Retail Capital Markets for North America Conor Lalor, and their team advised Blackstone. This major advisory role demonstrates Newmark's robust capabilities in retail capital markets and its ability to facilitate complex, multi-billion dollar privatization deals.
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