Real Estate Investments

6 Months Ended

Jun. 30, 2018

The following real estate investment transactions have occurred during the six months ended June 30, 2018.

Property Asset Acquisitions

On February 23, 2018, the Company acquired the property known as Stadium Center located in Tacoma, Washington, within the Seattle metropolitan area, for an adjusted purchase price of approximately $19.3 million. Stadium Center is approximately 49,000 square feet and is anchored by Thriftway Supermarket. The property was acquired with borrowings under the credit facility and restricted cash that was previously held by a qualified intermediary for the acquisition of a replacement property in a tax-free exchange under Section 1031 of the Code.

On May 18, 2018, the Company acquired the property known as King City Plaza located in King City, Oregon, within the Portland metropolitan area, for an adjusted purchase price of approximately $15.7 million. King City Plaza is approximately 63,000 square feet and is anchored by Grocery Outlet Supermarket. The property was acquired with borrowings under the credit facility.

Any reference to the number of properties and square footage are unaudited and outside the scope of the Company’s independent registered public accounting firm’s review of its financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board.

The financial information set forth below summarizes the Company’s purchase price allocation for the properties acquired during the six months ended June 30, 2018 (in thousands).



	June 30, 2018
Assets
Land	$	5,657
Building and improvements	33,100
Acquired lease intangible asset	821
Deferred charges	523
Assets acquired	$	40,101

Liabilities
Acquired lease intangible liability	$	925
Liabilities assumed	$	925

The following table summarizes the operating results included in the Company’s historical consolidated statement of operations for the three and six months ended June 30, 2018, for the properties acquired during the six months ended June 30, 2018 (in thousands).



	Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Statement of operations:
Revenues	$	570	$	716
Net income attributable to Retail Opportunity Investments Corp.	$	161	$	238