View Filing Data

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2015	Apr. 24, 2015
Retail Opportunity Investments Partnership L.P. [Member]
Document Information [Line Items]
Entity Registrant Name	Retail Opportunity Investments Partnerships L.P.
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001577230
Entity Filer Category	Non-accelerated Filer
Entity Registrant Name	Retail Opportunity Investments Corp
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		93,967,231
Amendment Flag	false
Entity Central Index Key	0001407623
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014
Senior Notes 2023 [Member] \| Retail Opportunity Investments Partnership L.P. [Member]
Liabilities:
Senior Notes	$ 246,258	$ 246,174
Senior Notes 2023 [Member]
Liabilities:
Senior Notes	246,258	246,174
Senior Notes 2024 [Member] \| Retail Opportunity Investments Partnership L.P. [Member]
Liabilities:
Senior Notes	246,592	246,521
Senior Notes 2024 [Member]
Liabilities:
Senior Notes	246,592	246,521
Retail Opportunity Investments Partnership L.P. [Member]
Real Estate Investments:
Land	578,508	550,078
Building and improvements	1,316,643	1,235,820
Total real estate investments	1,895,151	1,785,898
Less: accumulated depreciation	98,813	88,173
Real Estate Investments, net	1,796,338	1,697,725
Cash and cash equivalents	11,683	10,773
Restricted cash	868	514
Tenant and other receivables	24,182	23,025
Deposits	500	4,500
Acquired lease intangible asset, net of accumulated amortization	71,905	71,433
Prepaid expenses	1,870	2,454
Deferred charges, net of accumulated amortization	40,093	39,731
Other	1,513	1,541
Total assets	1,948,952	1,851,696
Liabilities:
Credit facility	238,500	156,500
Mortgage notes payable	93,156	94,183
Acquired lease intangibles liability, net of accumulated amortization	126,059	118,359
Accounts payable and accrued expenses	20,442	12,173
Tenants' security deposits	4,028	3,961
Other liabilities	13,494	11,043
Total liabilities	988,529	888,914
Equity:
ROIC capital (consists of general and limited partnership interests held by ROIC)	930,084	932,594
Limited partners’ capital (consists of limited partnership interests held by third parties)	38,687	39,070
Accumulated other comprehensive loss	(8,348)	(8,882)
Total equity	960,423	962,782
Total liabilities and equity	1,948,952	1,851,696
Land	578,508	550,078
Building and improvements	1,316,643	1,235,820
Total real estate investments	1,895,151	1,785,898
Less: accumulated depreciation	98,813	88,173
Real Estate Investments, net	1,796,338	1,697,725
Cash and cash equivalents	11,683	10,773
Restricted cash	868	514
Tenant and other receivables	24,182	23,025
Deposits	500	4,500
Acquired lease intangible asset, net of accumulated amortization	71,905	71,433
Prepaid expenses	1,870	2,454
Deferred charges, net of accumulated amortization	40,093	39,731
Other	1,513	1,541
Total assets	1,948,952	1,851,696
Credit facility	238,500	156,500
Mortgage notes payable	93,156	94,183
Acquired lease intangibles liability, net of accumulated amortization	126,059	118,359
Accounts payable and accrued expenses	20,442	12,173
Tenants' security deposits	4,028	3,961
Other liabilities	13,494	11,043
Total liabilities	988,529	888,914
Commitments and contingencies
Preferred stock, $.0001 par value 50,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $.0001 par value 500,000,000 shares authorized; and 93,817,231 and 92,991,333 shares issued and outstanding at March 31, 2015 and December 31, 2014, respectively	9	9
Additional paid-in-capital	1,022,794	1,013,561
Dividends in excess of earnings	(92,719)	(80,976)
Accumulated other comprehensive loss	(8,348)	(8,882)
Total Retail Opportunity Investments Corp. stockholders’ equity	921,736	923,712
Non-controlling interests	38,687	39,070
Total equity	960,423	962,782
Total liabilities and equity	$ 1,948,952	$ 1,851,696

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2015	Dec. 31, 2014
Preferred stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	93,817,231	92,991,333
Common stock, shares outstanding	93,817,231	92,991,333

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Retail Opportunity Investments Partnership L.P. [Member]
Revenues
Base rents	$ 35,202,000	$ 27,537,000
Recoveries from tenants	9,689,000	7,614,000
Other income	231,000	1,199,000
Total revenues	45,122,000	36,350,000
Operating expenses
Property operating	6,925,000	6,262,000
Property taxes	4,732,000	3,588,000
Depreciation and amortization	17,634,000	13,364,000
General and administrative expenses	2,641,000	2,561,000
Acquisition transaction costs	171,000	218,000
Other expenses	149,000	217,000
Total operating expenses	32,252,000	26,210,000
Operating income	12,870,000	10,140,000
Non-operating income (expenses)
Interest expense and other finance expenses	(8,494,000)	(6,874,000)
Net Income	4,376,000	3,266,000
Unrealized gain (loss) on swap derivative
Unrealized swap derivative gain (loss) arising during the period		(1,383,000)
Reclassification adjustment for amortization of interest expense included in net income	534,000	883,000
Other comprehensive income (loss)	534,000	(500,000)
Comprehensive income (loss)	$ 4,910,000	$ 2,766,000
Basic and diluted per unit: (in Dollars per share)	$ 0.04	$ 0.04
Basic and diluted per share: (in Dollars per share)	0.04	0.04
Dividends per common share (in Dollars per share)	$ 0.17	$ 0.16
Base rents	$ 35,202,000	$ 27,537,000
Recoveries from tenants	9,689,000	7,614,000
Other income	231,000	1,199,000
Total revenues	45,122,000	36,350,000
Property operating	6,925,000	6,262,000
Property taxes	4,732,000	3,588,000
Depreciation and amortization	17,634,000	13,364,000
General and administrative expenses	2,641,000	2,561,000
Acquisition transaction costs	171,000	218,000
Other expenses	149,000	217,000
Total operating expenses	32,252,000	26,210,000
Operating income	12,870,000	10,140,000
Interest expense and other finance expenses	(8,494,000)	(6,874,000)
Net Income	4,376,000	3,266,000
Unrealized swap derivative gain (loss) arising during the period		(1,383,000)
Reclassification adjustment for amortization of interest expense included in net income	534,000	883,000
Other comprehensive income (loss)	534,000	(500,000)
Comprehensive income (loss)	4,910,000	2,766,000
Comprehensive income attributable to non-controlling interests	(176,000)	(134,000)
Net income attributable to non-controlling interests	$ (176,000)	$ (134,000)
Basic and diluted per unit: (in Dollars per share)	$ 0.04	$ 0.04
Comprehensive income attributable to Retail Opportunity Investments Corp.	$ 4,734,000	$ 2,632,000
Net Income Attributable to Retail Opportunity Investments Corp.	$ 4,200,000	$ 3,132,000
Basic and diluted per share: (in Dollars per share)	$ 0.04	$ 0.04
Dividends per common share (in Dollars per share)	$ 0.17	$ 0.16

Consolidated Statements of Equity (Unaudited) - 3 months ended Mar. 31, 2015 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member] Officer [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Officer [Member]	Total
Balance at Dec. 31, 2014	$ 9	$ 1,013,561		$ (80,976)	$ (8,882)	$ 39,070		$ 962,782
Balance (in Shares) at Dec. 31, 2014	92,991,333							92,991,333
Shares issued under the 2009 Plan (in Shares)	360,627
Repurchase of common stock		(1,307)						$ (1,307)
Repurchase of common stock (in Shares)	(77,964)							0
Cancellation of restricted stock units (in Shares)	(1,332)
Stock based compensation expense		882						$ 882
Adjustment to non-controlling interests ownership in Operating Partnership		(107)				107
Proceeds from the sale of common stock		9,936						9,936
Proceeds from the sale of common stock (in Shares)	544,567
Registration expenditures		(171)						(171)
Cash dividends			$ (40)	(15,903)		(666)	$ (40)	(16,569)
Net income attributable to Retail Opportunity Investments Corp.				4,200				4,200
Net income attributable to non-controlling interests						176		176
Other comprehensive income					534			534
Balance at Mar. 31, 2015	$ 9	$ 1,022,794		$ (92,719)	$ (8,348)	$ 38,687		$ 960,423
Balance (in Shares) at Mar. 31, 2015	93,817,231							93,817,231

Consolidated Statements of Equity (Unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2015 $ / shares
Retained Earnings [Member]
Dividends per share/unit	$ 0.17
Dividends per share/unit	$ 0.17

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Retail Opportunity Investments Partnership L.P. [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 4,376	$ 3,266
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	17,634	13,364
Amortization of deferred financing costs and mortgage premiums, net	(8)	(24)
Straight-line rent adjustment	(1,275)	(632)
Amortization of above and below market rent	(2,330)	(1,997)
Amortization relating to stock based compensation	882	737
Provisions for tenant credit losses	751	863
Other noncash interest expense	534	433
Change in operating assets and liabilities
Restricted cash	(332)	(259)
Tenant and other receivables	(634)	(2,748)
Prepaid expenses	585	(375)
Accounts payable and accrued expenses	7,485	2,347
Other asset and liabilities, net	1,045	1,292
Net cash provided by operating activities	28,713	16,267
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	(99,245)	(69,100)
Improvements to properties	(5,848)	(2,908)
Deposits on real estate acquisitions	4,000	750
Construction escrows and other	(22)	(26)
Net cash used in investing activities	(101,115)	(71,284)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayment on mortgages	(418)	(500)
Proceeds from the draw on term loan/credit facility	106,500	76,000
Payments on credit facility	(24,500)	(10,500)
Proceeds from exercise of warrants		7,797
Deferred financing and other costs	(41)	(57)
Proceeds from the sale of common stock	9,936
Registration expenditures	(171)
Dividends paid	(16,687)	(12,304)
Repurchase of common stock	(1,307)	(574)
Net cash provided by financing activities	73,312	59,862
Net increase (decrease) in cash and cash equivalents	910	4,845
Cash and cash equivalents at beginning of period	10,773	7,920
Cash and cash equivalents at end of period	11,683	12,765
Other non-cash investing and financing activities – increase (decrease):
Intangible lease liabilities	11,442
Interest rate swap asset		(610)
Interest rate swap liabilities		(323)
Proceeds receivable from exercise of warrants		(125)
Accrued real estate improvement costs	1,653	(303)
Net income	4,376	3,266
Depreciation and amortization	17,634	13,364
Amortization of deferred financing costs and mortgage premiums, net	(8)	(24)
Straight-line rent adjustment	(1,275)	(632)
Amortization of above and below market rent	(2,330)	(1,997)
Amortization relating to stock based compensation	882	737
Provisions for tenant credit losses	751	863
Other noncash interest expense	534	433
Restricted cash	(332)	(259)
Tenant and other receivables	(634)	(2,748)
Prepaid expenses	585	(375)
Accounts payable and accrued expenses	7,485	2,347
Other asset and liabilities, net	1,045	1,292
Net cash provided by operating activities	28,713	16,267
Investments in real estate	(99,245)	(69,100)
Improvements to properties	(5,848)	(2,908)
Deposits on real estate acquisitions	4,000	750
Construction escrows and other	(22)	(26)
Net cash used in investing activities	(101,115)	(71,284)
Principal repayment on mortgages	(418)	(500)
Proceeds from the draw on term loan/credit facility	106,500	76,000
Payments on credit facility	(24,500)	(10,500)
Proceeds from exercise of warrants		7,797
Distributions to OP Unitholders	(666)	(501)
Deferred financing and other costs	(41)	(57)
Proceeds from the sale of common stock	9,936
Registration expenditures	(171)
Dividends paid	(16,021)	(11,803)
Repurchase of common stock	(1,307)	(574)
Net cash provided by financing activities	73,312	59,862
Net increase (decrease) in cash and cash equivalents	910	4,845
Cash and cash equivalents at beginning of period	10,773	7,920
Cash and cash equivalents at end of period	11,683	12,765
Intangible lease liabilities	11,442
Interest rate swap asset		(610)
Interest rate swap liabilities		(323)
Proceeds receivable from exercise of warrants		(125)
Accrued real estate improvement costs	$ 1,653	$ (303)

Consolidated Statements of Partners' Capital (Unaudited) - 3 months ended Mar. 31, 2015 - USD ($)
$ in Thousands

Limited Partner’s Capital [Member]