Retail Opportunity Investments

What Retail Opportunity Investments does

Retail Opportunity Investments Corp. (NASDAQ: ROIC) was a publicly traded real estate investment trust founded in 2007 and headquartered in San Diego, California. The company focused on acquiring, owning, and leasing grocery-anchored and necessity-based retail shopping centers located in high-density, supply-constrained markets primarily on the West Coast and in select East Coast metros. ROIC generated revenue through rental income from its portfolio of retail and office properties under multi-year lease structures typical of the REIT model. The company priced a $350 million senior unsecured notes offering in September 2023 to refinance debt and support general corporate purposes. In 2025, Blackstone acquired ROIC for approximately $4 billion in a major commercial real estate consolidation transaction, subsequently combining ROIC's assets with those of ShopCore and EQ Office to form Perform Properties — a diversified real estate operating platform managing retail, office, and specialty leasing (including pop-ups, seasonal activations, mobile retail, and experiential marketing) across a nationwide portfolio. The combined platform emphasizes properties with "People-Appeal" in markets including Seattle, Chicago, Pasadena, Philadelphia, and other major U.S. metros, with integrated capabilities spanning leasing, asset management, construction, and property operations.

Name

Retail Opportunity Investments

Legal name

Retail Opportunity Investments Corp.

Website

https://roireit.net

Company type

Public

Founded year

2007

Operating status

Acquired

Headcount range

11–50 employees

Short description

Retail Opportunity Investments was a publicly traded retail REIT focused on grocery-anchored shopping centers in high-density U.S. markets, acquired by Blackstone in 2025 and combined into Perform Properties, a diversified retail and office platform.

Ownership category

akta.pro rank

Product category

Commercial Real Estate (Retail REIT Leasing)

NAICS

General Rental Centers (53231), All Other Consumer Goods Rental (532289)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Retail Property Management (BPAJAGAB)

akta.pro secondary industry

Retail Real Estate Asset Management (BPAJAMAF)

Keywords

• Grocery-anchored shopping centers
• Retail real estate leasing
• Commercial REIT properties
• Office space leasing
• Specialty leasing programs

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Others, Marketing or Sales

Revenue model

1. Retail and Office Property Leasing: Retail Opportunity Investments generated revenue through leasing retail and office spaces to tenants. The company operated as a REIT, collecting rental income from its property portfolio. After being acquired, the assets were combined into Perform Properties which manages retail, office, and specialty leasing operations.

Distribution channels1 record

Core offering

Retail Opportunity Investments owned and operated a portfolio of grocery-anchored shopping centers and retail properties across the U.S., leasing space to retail and office tenants. The company offered standard retail and office leases, plus a specialty leasing program covering pop-ups, seasonal activations, mobile retail, and experiential marketing. As a REIT, it generated recurring rental income from its owned property portfolio.

Product overview

Retail Opportunity Investments (ROIC) was a commercial real estate investment trust (REIT) focused on retail properties. As of mid-2025, ROIC was acquired by Blackstone for approximately $4 billion and merged into Perform Properties, a diversified real estate operating platform. Perform Properties, formed by combining ShopCore, ROIC, and EQ Office, offers retail spaces, office spaces, and specialty leasing services including pop-ups, seasonal activations, mobile retail, and experiential marketing opportunities.

Differentiator

Problem solved

Functional benefit

Products and services

• Retail Space Leasing Leasing of grocery-anchored shopping center and retail center space to national, regional, and local retail tenants in high-traffic, community-embedded locations across U.S. markets. Includes curated tenant mix, in-line and anchor space, and ongoing property management.
• Office Space Leasing Leasing of office space in major U.S. markets to business tenants, featuring amenitized, wellness-driven workplace design, integrated asset management, construction, leasing, and property operations.
• Specialty Leasing Program Flexible short-term retail leasing solutions for entrepreneurs, emerging brands, and national retailers, including pop-up shops, seasonal activations, mobile retail, and experiential marketing opportunities in high-visibility locations with built-in foot traffic.

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• EQ OfficecoreStrategic or Co-development PartnerEQ Office assets were combined with ShopCore and ROIC to form Perform Properties, creating a diversified real estate operating platform with nationwide reach across retail and office sectors.
• ShopCorecoreStrategic or Co-development PartnerShopCore assets were combined with ROIC and EQ Office to form Perform Properties, creating a best-in-class diversified real estate operating platform focused on retail and office properties with People-Appeal.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Regency Centers: Regency Centers is a retail REIT owning grocery-anchored shopping centers in high-density, affluent trade areas — a directly comparable tenant mix and location strategy to ROIC.
• Realty Income: Realty Income is the largest net-lease REIT and a major acquirer of retail real estate; its consolidation of Spirit Realty makes it a scale comparable for ROIC's leased-property business.
• Brixmor Property Group: Brixmor is one of the largest publicly traded retail REITs, owning open-air shopping centers across the U.S., making it a direct competitor for tenants and capital in ROIC's segment.
• Kimco Realty: Kimco Realty is a publicly traded retail REIT focused on open-air shopping centers, directly comparable to ROIC's grocery-anchored and necessity-based retail portfolio strategy.
• NNN REIT: NNN REIT acquires single-tenant retail properties net-leased to credit tenants — a closely comparable capital-deployment model within retail real estate.
• Tanger Inc. Tanger operates outlet and open-air shopping centers across the U.S., directly comparable in asset format to ROIC's retail leasing platform.
• Kite Realty Group: Kite Realty owns and operates open-air shopping centers in high-growth Sun Belt and Midwest markets — a similar demographic and tenant-mix orientation to ROIC's portfolio.
• Federal Realty Investment Trust: Federal Realty owns high-quality open-air retail in dense, affluent U.S. markets with a focus on mixed-use destinations — closely aligned with ROIC's People-Appeal thesis.
• Phillips Edison & Company: Phillips Edison operates a portfolio of grocery-anchored neighborhood shopping centers, with a tenant base and asset profile closely mirroring ROIC's necessity-retail focus.

Broad incumbents

• Simon Property Group: Simon is the largest U.S. retail REIT and a broad incumbent in the shopping-center category; though it focuses on larger regional malls and premium outlets, it competes for capital, tenants, and acquisitions in the same space as ROIC.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Retail Opportunity Investments