Blackstone (BX, Financials) is set to acquire Retail Opportunity Investments Corp. (ROIC, Financials) in an all-cash transaction valued at approximately $4 billion, including debt; a major deal in an already newsworthy day, thanks to Donald Trump's return to the White House. Blackstone is up 4.57% to open the market at $177.37 on Wednesday, and ROIC is up 4.7% to open at $17.37.

Comprising 93 grocery-anchored retail sites totaling 10.5 million square feet, mostly situated in Los Angeles, Seattle, San Francisco, and Portland, ROIC's portfolio is a major reason for the deal to take place, according to a statetment

Blackstone Real Estate Partners X will pay $17.50 per share for outstanding common shares, the agreement between the two parties says. Subject to usual closing conditions and shareholder approval, the deal, authorized by ROIC's board, is scheduled to conclude in the first quarter of 2025.

We are pleased to reach this agreement with Blackstone, as it will provide significant and certain value to our stakeholders, said Stuart A. Tanz, President and Chief Executive Officer of ROIC.

Co-Head of Americas Acquisitions at Blackstone Real Estate Jacob Werner underlined the company's interest in grocery-anchored commercial complexes in highly populated locations, pointing out the sector's solid foundations and minimal new construction over the last decade.

This article first appeared on GuruFocus.

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