June 30, 2010

Retail Opportunity Investments Corp. Closes on the Acquisition of Two Mortgage Loans for $15.1 Million Dollars

PURCHASE, N.Y., June 30, 2010 (GLOBE NEWSWIRE) -- Retail Opportunity Investments, Corp. (the "Company") (Nasdaq:ROIC), a fully integrated owner and operator of shopping centers, announced today that it has closed on the purchase of a first mortgage loan and a B Participation interest in a first mortgage loan, each secured by Southern California shopping centers.

Stuart A. Tanz, the Company's Chief Executive Officer commented, "We are pleased with the acquisition of the two mortgage loans and are excited about the potential presented by both transactions. We believe opportunities to acquire loans secured by strong retail real estate assets in our target markets will continue to help build our acquisition pipeline, and we are well-positioned to take advantage of these opportunities."

Riverside, California

On June 28, 2010, the Company, through a 50-50 joint venture with Winthrop Realty Trust (NYSE:FUR), acquired a $15.6 million newly created B Participation interest, at par value, in a $70 million first mortgage loan secured by a 405,000 square foot community shopping center located in Riverside, California at par. The shopping center is 99% leased and anchored by a Von's (Safeway), Trader Joes, CVS Pharmacy and Forever 21. There are over 270,300 people living within a five mile radius with an average household income of $65,525. The B note, which matures on December 1, 2012, is interest only at an interest rate of 12%. The $15.6 million B Participation is subordinate to a $54.4 million A Participation.  Stuart A. Tanz, the Company's Chief Executive Officer commented, "The Company is pleased to partner with Winthrop Realty Trust on this transaction." 

Claremont, California

On May 19, 2010 the Company acquired a first mortgage loan secured by a 14% leased, 91,169 square foot neighborhood shopping center located in Claremont, California for $7.3 million, which represents a 68% discount to the face value of the loan. The center is in Los Angeles County on the southeast corner of I-10 and South Indian Hill Boulevard, and there are over 460,000 people within a five mile radius with an average household income of approximately $70,310. The note matured in July 2009 and the borrower is in default and foreclosure proceedings have commenced. 


Retail Opportunity Investments Corporation (Nasdaq:ROIC) is a fully integrated real estate company that intends to qualify as a REIT for U.S. federal income tax purposes. The Company is focused on acquiring, owning leasing, repositioning and managing a diverse portfolio of necessity-based retail properties, including, primarily, well located community and neighborhood shopping centers, anchored by national or regional supermarkets and drugstores. The Company targets properties strategically situated in densely populated, middle and upper income markets in western and eastern regions of the United States. The Company presently owns and operates eight shopping centers encompassing approximately 739,000 square feet.

The Retail Opportunity Investments Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6855

Forward-looking statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements on the current expectations and projections of the Company about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in the Company's Annual Reports on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly and Periodic Reports filed since the date of the filing of the Company's Annual Report.

CONTACT: Retail Opportunity Investments, Corp.
         3 Manhattanville Road, 2nd Floor
         Purchase, NY 10577

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