Perform Properties Merger Boosts Blackstone Portfolio

Consolidation Strategy

According to CoStar, Blackstone, the world’s largest commercial property owner, has launched Perform Properties. It merges three of its subsidiaries: ShopCore Properties, EQ Office, and Retail Opportunity Investments Corp.

The consolidation brings together 33MSF of space. This includes both office buildings and open-air retail centers across the US.

A Response to Market Shifts

This move follows Blackstone’s $4B acquisition of Retail Opportunity Investments. Soon after, EQ and ShopCore’s CEO, Alex Vouvalides, was named head of the new venture.

Today, Perform owns 155 retail centers and 20 office properties. Key assets include Bakers Centre in Philadelphia, Magnolia Shopping Center in Santa Barbara, and the Willis Tower in Chicago.

Focus on Engagement

Perform aims to create more engaging experiences for tenants and visitors. According to the company, customer expectations have shifted. As a result, spaces must now offer more than just square footage.

“In a market where people have more choices than ever, the properties that succeed are those that perform,” said Vouvalides. “We focus on high-functioning, high-impact spaces designed for modern business needs.”

Why This Matters

The office and retail sectors are changing quickly. Tenants now look for amenities, flexible layouts, and walkable surroundings. By merging these platforms, Blackstone can respond faster and scale those offerings.

Moreover, branded experiences and curated environments are becoming key differentiators. Perform’s structure allows it to deliver those more efficiently.

What’s Ahead

Going forward, Perform will likely expand placemaking efforts. The firm may also invest in more mixed-use developments and customer-focused upgrades.

As demand for quality real estate evolves, Perform is positioned to lead with scale, design, and experience.