What's Happening in Blackstone Stocks Today?

Karataş (NYSE:BX) shares It is trading higher on Wednesday.

In fact, several banking and private equity stocks subsequently traded higher. Donald Trump Won the US presidential election.

Meanwhile, Blackstone Real Estate Partners X has agreed to acquire all outstanding shares of Blackstone Real Estate Partners X. Retail Opportunity Investments Inc. (NASDAQ:return on investment) $17.50 per share.

The all-cash deal is valued at approximately $4 billion, including Retail Opportunity Investments’ outstanding debt.

The purchase price represents a 34% premium to Retail Opportunity Investments’ closing share price on July 29, the last trading day before news of a potential sale.

“We are pleased to acquire ROIC, which has a unique collection of high-quality assets in some of the West Coast’s most desirable markets,” said Jacob Werner, Co-Head of Americas Acquisitions at Blackstone Real Estate.

The transaction is expected to be completed in the first quarter of 2025, subject to customary closing conditions.

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Retail Opportunity Investments’ portfolio consists of 93 grocery-anchored retail properties totaling 10.5 million square feet, concentrated in Los Angeles, Seattle, San Francisco and Portland.

“The industry is experiencing accelerated fundamentals due to almost a decade of virtually no new construction, while demand for brick-and-mortar grocery stores, restaurants, fitness and other lifestyle retailers remains healthy,” Werner added.

“We are confident that Blackstone will position its ROIC portfolio for continued growth and success,” said Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments.

Price Action: ROIC shares were up 4.28% to $17.30 at last check on Wednesday, while BX shares were up 4.03% to $176.46.

Image via Shutterstock

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This article What’s Happening in Blackstone Stocks Today? originally appeared Benzinga.com

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