Subsequent Events

3 Months Ended

Mar. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On April 1, 2022, the Company acquired the property known as Olympia Square North, located in Olympia, Washington, within the Seattle metropolitan area, for a purchase price of approximately $18.4 million. Olympia Square North is approximately 90,000 square feet and is anchored by Albertsons Supermarket. The property was acquired with cash on hand and borrowings under the credit facility.

On April 1, 2022, the Company acquired the property known as Powell Valley Junction, located in Gresham, Oregon, within the Portland metropolitan area, for a purchase price of approximately $17.6 million. Powell Valley Junction is approximately 109,000 square feet and is anchored by Walmart Neighborhood Market. The property was acquired with cash on hand and borrowings under the credit facility.

Subsequent to March 31, 2022, ROIC settled a total of 471,012 shares under the Sales Agreement, which resulted in gross proceeds of approximately $9.2 million and commissions of approximately $92,000 paid to the Agents.

On April 25, 2022, ROIC’s board of directors declared a cash dividend on its common stock and a distribution on the Operating Partnership’s OP Units of $0.13 per share and per OP Unit, payable on July 8, 2022 to holders of record on June 17, 2022.