This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Retail Opportunity Investments Corp. Closes On Three Shopping Centers Totaling $52 Million

PURCHASE, N.Y., Dec. 27, 2010 (GLOBE NEWSWIRE) -- Retail Opportunity Investments Corp. (the "Company") (Nasdaq:ROIC), a fully integrated owner and operator of shopping centers, announced today that it has completed the acquisition of Gateway Village, Halsey Crossing and Division Crossing and acquired a $58 million loan portfolio on the west coast.

Stuart A. Tanz, the Company's Chief Executive Officer, commented, "We are pleased to announce the closing of the three dominant grocery anchored shopping centers, continuing our strong acquisition pace for the year. We believe these acquisitions demonstrate our ability to execute our business plan of capitalizing on opportunities to acquire irreplaceable real estate. We are also pleased to acquire additional mortgages secured by strong retail properties at a discount to their face value." 

Gateway Village

On December 16, 2010, the Company completed the acquisition of Gateway Village, a 91.0% occupied grocery anchored neighborhood shopping center located in Chino Hills, California for an aggregate purchase price of $34.0 million.  The Company assumed the Sellers' obligations under three existing loans totaling approximately $21.8 million carrying a blended 5.8% interest rate and maturing between 2014 and 2016. The 96,959 square foot shopping center is anchored by Henry's Marketplace (Smart & Final).  

Division Crossing and Halsey Crossing

On December 22, 2010 the Company closed on the acquisition of two grocery anchored neighborhood shopping centers in Oregon for an aggregate purchase price of $18.0 million. The assets, Division Crossing ("Division") and Halsey Crossing ("Halsey") further enhance the Company's footprint in Oregon and the greater Pacific Northwest. The Company continues to be one of the most active acquirers of assets in the region and with the acquisitions has increased its Pacific Northwest portfolio to nine assets.

Division is a grocery-anchored neighborhood shopping center of approximately 98,321 square feet and was acquired for $11.0 million.  It is anchored by Safeway and  currently 98.5% leased.  The property is located in an area with approximately 305,215 people within a five mile radius, with an average household income of approximately $58,403.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,283.28 +17.29 0.10%
S&P 500 2,010.80 -0.56 -0.03%
NASDAQ 4,575.72 -17.7050 -0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs