Gateway Village

In December 2010, ROIC acquired Gateway Village for approximately $34.0 million, funded with $12.2 million of cash and the assumption of an existing $21.8 million mortgage loan. The shopping center is approximately 97,000 square feet and is anchored by Henry's Marketplace (Smart & Final), a Southern California based grocer. The property is located in Chino Hills, California.

( 2) Includes pro rata consolidation of the Crossroads Shopping Center.

Crossroads Shopping Center

In December 2010, ROIC acquired a 49% interest in the Crossroads Shopping Center for $42.1 million, funded with $12.4 million in cash, and the assumption of existing mortgage debt (49% interest equating to $29.7 million). The shopping center is approximately 465,000 square feet and is anchored by QFC (Kroger) Supermarket, Sports Authority and Bed, Bath & Beyond. The property is located in Bellevue, Washington, within the Seattle metropolitan area. ROIC has the right to acquire the remaining 51% interest in 2014.

2011 INVESTMENT ACTIVITY TO DATE

To date in 2011, ROIC has acquired five shopping centers in three separate transactions as follows:

Single Asset Acquisitions:

To date in 2011, ROIC has acquired two shopping centers for a total of $56.5 million. The properties acquired are as follows.  
  • Marketplace Del Rio

In January 2011, ROIC acquired Marketplace Del Rio for approximately $35.7 million. The shopping center is approximately 177,000 square feet and is anchored by Stater Brothers Supermarket. The property is located in Oceanside, California, within the San Diego metropolitan area.
  • Pinole Vista

In January 2011, ROIC acquired Pinole Vista for approximately $20.8 million. The shopping center is approximately 165,000 square feet and is anchored by Lucky Supermarket, a Northern California based grocer. The property is located in Pinole, California, within the San Francisco metropolitan area.

Properties acquired through conveyance in lieu:

On February 17, 2011, ROIC acquired the fee interest in three shopping centers (Desert Springs Marketplace, Mills Shopping Center and Nimbus Winery) through a conveyance-in-lieu of foreclosure agreement for an aggregate cost of approximately $52.5 million. The $52.5 million reflects approximately $2.5 million of expenditures in 2011 in addition to the $50.0 million purchase price of the mortgage notes receivable acquired in December 2010 (as discussed above).
  • Desert Springs Marketplace

Desert Springs Marketplace is a grocery-anchored neighborhood shopping center totaling approximately 105,000 square feet. The property is anchored by Ralphs "Fresh Fare" Grocer (Kroger Co.) and is located in Palm Desert, California.
  • Mills Shopping Center

Mills Shopping Center is a grocery-anchored community shopping center totaling approximately 253,000 square feet. The property is anchored by Raley's Supermarket, a Northern California based grocer, and is located in Rancho Cordova, California, within the Sacramento metropolitan area.
  • Nimbus Winery Shopping Center

Nimbus Winery Shopping Center is a neighborhood shopping center totaling approximately 75,000 square feet. The property is located in Rancho Cordova, California, within the Sacramento metropolitan area.

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