By Anirban Sen
(Reuters) – Non-public fairness agency Blackstone (NYSE:) is in early-stage talks to accumulate Retail Alternative Investments Corp (NASDAQ:), an proprietor of U.S. purchasing facilities with a market worth of about $1.7 billion, in line with folks accustomed to the matter.
Blackstone’s curiosity comes after ROIC’s shares misplaced greater than 10% of their worth within the final 12 months, underperforming another actual property funding trusts. The buyout agency’s strategy signifies it sees values in ROIC’s properties, which primarily home supermarkets and drugstores.
No deal is definite and one other bidder for ROIC might emerge, the sources mentioned, requesting anonymity as a result of the matter is confidential.
Blackstone declined to remark. ROIC didn’t instantly reply to requests for remark.
