Subsequent Events

9 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On October 11, 2017, the Company acquired the property known as Fullerton Crossroads, located in Fullerton, California, within Orange County, for a purchase price of approximately $64.0 million. Fullerton Crossroads is approximately 222,000 square feet and is anchored by Kroger (Ralph’s) Supermarket. The property was acquired through the issuance of 1,754,357 OP Units with a per unit price of $21.25 and the assumption of existing debt on the property of $26.0 million.

On October 11, 2017, the Company acquired the property known as Riverstone Marketplace, located in Vancouver, Washington, within the Portland metropolitan area, for a purchase price of approximately $32.5 million. Riverstone Marketplace is approximately 108,000 square feet and is anchored by Kroger (QFC) Supermarket. The property was acquired through the issuance of 651,073 OP Units with a per unit price of $21.25 and the assumption of existing debt on the property of $18.5 million.

On October 19, 2017, the Company acquired the property known as North Lynnwood Shopping Center, located in North Lynnwood, Washington, within the Seattle metropolitan area, for a purchase price of approximately $13.3 million. North Lynnwood Shopping Center is approximately 64,000 square feet and is anchored by Kroger (QFC) Supermarket. The property was acquired with borrowings under the credit facility.

On October 24, 2017, ROIC’s board of directors declared a cash dividend on its common stock and a distribution on the Operating Partnership’s OP Units of $0.1875 per share and per OP Unit, payable on December 28, 2017 to holders of record on December 14, 2017.