This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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. Reports Fourth Quarter 2010 Results

Stocks in this article: ROIC

BALANCE SHEET SUMMARY

At December 31, 2010, ROIC had total assets of $464.2 million, including $84.7 million in cash and $379.5 million in real estate investments and other assets. At December 31, 2010, ROIC had $42.4 million of debt outstanding.

In December 2010, ROIC entered into a $175.0 million senior unsecured revolving credit facility. The credit facility has an initial maturity date of December 1, 2012. ROIC has the option to extend the maturity date for an additional year. ROIC also has the ability to increase the credit facility amount up to $250.0 million, subject to commitments and other conditions. ROIC intends to utilize borrowings under the credit facility primarily to fund future acquisitions.

INVESTMENT SUMMARY

During the fourth quarter of 2010, ROIC completed $144.1 million in shopping center investments. ROIC acquired an equity interest in four grocery-anchored shopping centers totaling $94.1 million, including two shopping centers in Oregon, one shopping center in California and one shopping center in Washington. Additionally, ROIC acquired a mortgage loan portfolio with an aggregate principal balance of $57.8 million for $50.0 million. The loans were cross-collateralized and secured by three shopping centers and an office building. Subsequent to the fourth quarter of 2010, ROIC acquired the three shopping centers securing the loan portfolio through a conveyance-in-lieu of foreclosure agreement (see information below). The fourth quarter transactions were funded with $92.6 million in cash and the assumption of two existing mortgages totaling $51.5 million. 2

Division Crossing

In December 2010, ROIC acquired Division Crossing for approximately $11.0 million, funded in cash. The shopping center is approximately 98,000 square feet and is anchored by Safeway. The property is located in Portland, Oregon.

Halsey Crossing

In December 2010, ROIC acquired Halsey Crossing for approximately $7.0 million, funded in cash. The shopping center is approximately 99,000 square feet and is anchored by Safeway. The property is located in Gresham, Oregon, within the Portland metropolitan area.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

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