Real Estate Investments

6 Months Ended

Jun. 30, 2024

The following real estate investment transaction has occurred during the six months ended June 30, 2024.

The Company evaluated the following acquisition and determined that substantially all of the fair value related to the acquisition was concentrated in a single identifiable asset. The Company allocated the total consideration for the acquisition to the individual assets and liabilities acquired on a relative fair value basis. All transaction costs incurred in the acquisition were capitalized.

Property Asset Acquisitions

On April 4, 2024 the Company acquired the property known as Bressi Ranch Village Center for an adjusted purchase price of approximately $71.0 million. The property is approximately 116,000 square feet and is anchored by two supermarkets, Trader Joe’s and Stater Brothers Supermarket. The shopping center is part of a master-planned community, located in Carlsbad, California, within the San Diego metropolitan area. The property was acquired with cash on hand and borrowings under the credit facility.

The financial information set forth below summarizes the Company’s purchase price allocation for the property asset acquired during the six months ended June 30, 2024 (in thousands):


	June 30, 2024
Assets
Land	$	21,255
Building and improvements	46,010
Acquired lease intangible asset	4,883
Deferred charges	1,755
Assets acquired	$	73,903

Liabilities

Acquired lease intangible liability	2,952
Liabilities assumed	$	2,952

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, 2024, for the property asset acquired during the six months ended June 30, 2024 (in thousands):


	Three Months Ended		Six Months Ended
	June 30, 2024		June 30, 2024
Statement of operations:
Revenues	$	1,572	$	1,572
Net income attributable to Retail Opportunity Investments Corp.	$	191	$	191