0001407623-24-000043 | 10-K | XBRL Viewer | Retail Opportunity Investments Corp

Partnership units ( in shares)

134,341,202

Shares outstanding (in shares)

126,904,085

124,538,811

Notices of redemptions received (in shares)

1,010,000

Equity Redemption of OP Units (in shares)

1,010,000

Common Stock

Shares outstanding (in shares)

126,904,085

124,538,811

122,685,266

118,085,155

Equity Redemption of OP Units (in shares)

1,010,000

296,840

423,986

OP Units

Non-controlling interest redemption value

$ 104.3

Non-controlling interest redemption value (in usd per share)

$ 14.02

Retail Opportunity Investments Partnership L.P.

ROIC ownership percentage in ROIP LP

94.40%

Retail Opportunity Investments Partnership L.P. | Limited Partner’s Capital

Partnership units ( in shares)

^[1]

7,437,117

8,447,117

8,542,097

8,966,083

Equity Redemption of OP Units (in shares)

^[1]

(1,010,000)

(296,840)

(423,986)

[1]	Consists of limited partnership interests held by third parties.

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2023	Feb. 08, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	RETAIL OPPORTUNITY INVESTMENTS CORP.
Entity File Number	001-33749
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-0500600
Entity Address, Address Line One	11250 El Camino Real
Entity Address, City or Town	San Diego,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92130
City Area Code	858
Local Phone Number	677-0900
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	ROIC
Security Exchange Name	NASDAQ
Entity Public Float			$ 1.7
Entity Common Stock, Shares Outstanding		127,004,828
Entity Central Index Key	0001407623
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Retail Opportunity Investments Partnership L.P.
Document Information [Line Items]
Current Fiscal Year End Date	--12-31
Entity Registrant Name	RETAIL OPPORTUNITY INVESTMENTS PARTNERSHIP, LP
Entity File Number	333-189057-01
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2969738
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Central Index Key	0001577230
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Real Estate Investments - Purchase Price Allocation of Properties Acquired (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Acquisitions in 2022
Assets
Land		$ 51,150
Building and improvements		86,263
Acquired lease intangible asset		8,745
Deferred charges		5,462
Assets acquired		151,620
Liabilities
Acquired lease intangible liability		30,981
Liabilities assumed		$ 30,981
Acquisitions 2023
Assets
Land	$ 8,748
Building and improvements	13,122
Acquired lease intangible asset	0
Deferred charges	0
Assets acquired	21,870
Liabilities
Acquired lease intangible liability	0
Liabilities assumed	$ 0

Stock Compensation and Other Benefit Plans for ROIC - Non-vested Restricted Stock Awards (Details) - Restricted Stock	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares
Beginning balance ( in shares) \| shares	1,310,598
Vested (in shares) \| shares	(649,161)
Granted (in shares) \| shares	505,953
Forfeited (in shares) \| shares	(29,425)
Ending balance (in shares) \| shares	1,137,965
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares	$ 17.85
Vested (in dollars per share) \| $ / shares	17.22
Granted (in dollars per share) \| $ / shares	14.56
Forfeited (in dollars per share) \| $ / shares	14.43
Ending balance (in dollars per share) \| $ / shares	$ 16.74

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended			28 Months Ended
	Sep. 30, 2013	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Lease liability		$ 16,422
Lease liability [Extensible Enumeration]		Other liabilities
Right-of-use asset		$ 14,700
Right-of-use asset [Extensible Enumeration]		Other assets
Operating lease, weighted average remaining lease term		35 years 2 months 12 days
Operating lease, weighted average discount rate		5.20%
Ground rent expense		$ 1,800	$ 1,700	$ 1,600
Tax protection agreements, period (in years)	12 years				10 years

Real Estate Investments - Narrative (Details) ft² in Thousands, $ in Thousands		12 Months Ended
	Dec. 01, 2023 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) ft²	Dec. 31, 2021 USD ($)
Real Estate [Line Items]
Adjusted purchase price			$ 120,600
Area of property (sq ft) \| ft²			502
Sales price of property sold			$ 36,200
Proceeds from sale of real estate		$ 0	34,435	$ 68,003
Gain on sale of real estate		$ 0	$ 7,653	$ 22,340
Foothill Plaza, CA \| LaVerne, CA
Real Estate [Line Items]
Adjusted purchase price	$ 21,900
Area of property (sq ft) \| ft²	65

Goodwill and Intangible Assets Disclosure [Abstract]

The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes.

+ References + Details

Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party \| Lease agreements \| Officer \| General and Administrative Expense
Related Party Transaction [Line Items]
Related Party Transaction, Amounts of Transaction	$ 96	$ 95	$ 85

Acquired Lease Intangibles

12 Months Ended

Dec. 31, 2023

Acquired Lease Intangibles

Intangible assets and liabilities as of December 31, 2023 and December 31, 2022 consisted of the following (in thousands):


	December 31,
	2023		2022
Assets:
In-place leases	$	65,300	$	70,133
Accumulated amortization	(29,084)		(27,405)
Above-market leases	17,543		21,307
Accumulated amortization	(10,968)		(11,607)
Acquired lease intangible assets, net	$	42,791	$	52,428
Liabilities:
Below-market leases	$	191,294	$	205,421
Accumulated amortization	(53,474)		(53,304)
Acquired lease intangible liabilities, net	$	137,820	$	152,117

For the years ended December 31, 2023, 2022 and 2021, the net amortization of acquired lease intangible assets and acquired lease intangible liabilities for above- and below-market leases was $11.2 million, $11.9 million and $8.8 million, respectively, which amounts are included in Rental revenue in the accompanying consolidated statements of operations and comprehensive income. For the years ended December 31, 2023, 2022 and 2021, the amortization of in-place leases was $6.5 million, $5.9 million and $4.8 million, respectively, which amounts are included in Depreciation and amortization in the accompanying consolidated statements of operations and comprehensive income.

The scheduled future amortization of acquired lease intangible assets as of December 31, 2023 is as follows (in thousands):


Year Ending December 31:
2024	$	5,550
2025	4,687
2026	3,802
2027	3,150
2028	2,864
Thereafter	22,738
Total future amortization of acquired lease intangible assets	$	42,791

The scheduled future amortization of acquired lease intangible liabilities as of December 31, 2023 is as follows (in thousands):


Year Ending December 31:
2024	$	11,474
2025	10,893
2026	10,031
2027	9,347
2028	8,969
Thereafter	87,106
Total future amortization of acquired lease intangible liabilities	$	137,820

Schedule IV - Mortgage Loans on Real Estate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance at beginning of period	$ 4,786	$ 4,875	$ 4,959
Repayments on mortgage note receivable	(92)	(89)	(84)
Balance at end of period	$ 4,694	$ 4,786	$ 4,875

Preferred Stock of ROIC	12 Months Ended
Preferred Stock of ROIC	Dec. 31, 2023
Equity [Abstract]
Preferred Stock of ROIC	Preferred Stock of ROIC ROIC is authorized to issue 50,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of December 31, 2023 and December 31, 2022, there were no shares of preferred stock outstanding.

Consolidated Statement of Partners' Capital (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash distributions per unit (usd per share)	$ 0.60	$ 0.56	$ 0.51
Retail Opportunity Investments Partnership L.P.
Cash distributions per unit (usd per share)	$ 0.60	$ 0.56	$ 0.51

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company has entered into several lease agreements with an officer of the Company, whereby pursuant to the lease agreements, the Company is provided the use of storage space. For the years ended December 31, 2023, 2022, and 2021, the Company incurred approximately $96,000, $95,000 and $85,000, respectively, of expenses relating to the agreements which were included in General and administrative expenses in the accompanying consolidated statements of operations and comprehensive income.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Mortgage Notes Payable, Credit Facilities and Senior Notes - Amortization of Financing Costs (Details) - Total Debt $ in Thousands	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
2024	$ 3,703
2025	2,873
2026	2,836
2027	1,479
2028	843
Thereafter	0
Deferred charges, net	$ 11,734

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Schedule of Maturities of Notes Payable

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Basic and Diluted EPS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income	$ 36,654	$ 55,460	$ 57,360
Less income attributable to non-controlling interests	(2,120)	(3,591)	(3,852)
Less earnings allocated to unvested shares, basic	(455)	(378)	(355)
Net income available to common stockholders, basic	34,079	51,491	53,153
Less earnings allocated to unvested shares, diluted	(455)	(378)	(355)
Net income available to common stockholders, diluted	$ 36,199	$ 55,082	$ 57,005
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	124,999,568	123,394,745	119,544,749
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	132,864,930	132,284,935	128,453,898
OP Units
Denominator:
OP Units (in shares)	7,717,199	8,566,343	8,650,485
Performance-based restricted stock awards and LTIP Units
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	148,163	323,027	250,585
Stock options
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	820	8,079
Retail Opportunity Investments Partnership L.P.
Numerator:
Net income	$ 36,654	$ 55,460	$ 57,360
Less earnings allocated to unvested shares, basic	(455)	(378)	(355)
Net income available to common stockholders, basic	36,199	55,082	57,005
Net income available to common stockholders, diluted	$ 36,199	$ 55,082	$ 57,005
Denominator:
Denominator for basic EPS – weighted average common equivalent shares (in shares)	132,716,767	131,961,088	128,195,234
Denominator for diluted EPS – weighted average common equivalent shares (in shares)	132,864,930	132,284,935	128,453,898
Retail Opportunity Investments Partnership L.P. \| Performance-based restricted stock awards and LTIP Units
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	148,163	323,027	250,585
Retail Opportunity Investments Partnership L.P. \| Stock options
Denominator:
Incremental common shares attributable to dilutive effect of share-based payment arrangements (in shares)	0	820	8,079

Derivative and Hedging Activities - Fair Value and Classification (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
In the next 12 months will be reclassified as a decrease to interest expense	$ 592,000
Interest rate swap \| Recurring
Derivative [Line Items]
Derivative asset	592,000
Interest rate swap \| Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) \| Recurring
Derivative [Line Items]
Derivative asset	0
Interest rate swap \| Significant Other Observable Inputs (Level 2) \| Recurring
Derivative [Line Items]
Derivative asset	592,000
Interest rate swap \| Significant Unobservable Inputs (Level 3) \| Recurring
Derivative [Line Items]
Derivative asset	0
Interest rate swap \| Designated as hedging instrument \| Other assets
Derivative [Line Items]
Derivative asset	$ 592,000	$ 0

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Officer	Common Stock	Additional paid-in capital	Accumulated dividends in excess of earnings	Accumulated dividends in excess of earnings Officer	Accumulated other comprehensive (loss) income	Non- controlling interests	Non- controlling interests Officer
Balance at Dec. 31, 2020	$ 1,291,159		$ 12	$ 1,497,662	$ (289,309)		$ (8,812)	$ 91,606
Balance (in shares) at Dec. 31, 2020			118,085,155
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)			535,819
Shares issued under the Equity Incentive Plan	428			428
Shares withheld for employee taxes (in shares)			(142,247)
Shares withheld for employee taxes	(1,905)			(1,905)
Cancellation of restricted stock (in shares)			(5,482)
Stock based compensation expense	11,030			9,735				1,295
Redemption of OP Units (in shares)			423,986
Redemption of OP Units	6,858			6,858				(6,858)
Adjustment to non-controlling interests ownership in Operating Partnership				(3,625)				3,625
Proceeds from the issuance of common stock (in shares)			3,788,035
Proceeds from the issuance of common stock	69,602		$ 0	69,602
Registration expenditures	(918)			(918)
Cash dividends	(66,112)	$ (401)			(61,717)	$ (283)		(4,395)	$ (118)
Net income attributable to Retail Opportunity Investments Corp.	53,508				53,508
Net income attributable to non-controlling interests	3,852							3,852
Other comprehensive income (loss)	6,110						5,658	452
Balance (in shares) at Dec. 31, 2021			122,685,266
Balance at Dec. 31, 2021	1,366,353		$ 12	1,577,837	(297,801)		(3,154)	89,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)			406,106
Shares issued under the Equity Incentive Plan	302			302
Shares withheld for employee taxes (in shares)			(123,466)
Shares withheld for employee taxes	(2,416)			(2,416)
Cancellation of restricted stock (in shares)			(14,148)
Stock based compensation expense	11,949			11,949				0
Redemption of OP Units (in shares)			296,840
Redemption of OP Units	5,071			5,071				(5,071)
Adjustment to non-controlling interests ownership in Operating Partnership	0			(5,017)				5,017
Proceeds from the issuance of common stock (in shares)			1,288,213
Proceeds from the issuance of common stock	25,199		$ 0	25,199
Registration expenditures	(799)			(799)
Cash dividends	(74,321)	(519)			(69,533)	(519)		(4,788)	0
Net income attributable to Retail Opportunity Investments Corp.	51,869				51,869
Net income attributable to non-controlling interests	3,591							3,591
Other comprehensive income (loss)	$ 3,390						3,168	222
Balance (in shares) at Dec. 31, 2022	124,538,811		124,538,811
Balance at Dec. 31, 2022	$ 1,384,598		$ 12	1,612,126	(315,984)		14	88,430
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued under the Equity Incentive Plan (in shares)			700,691
Shares issued under the Equity Incentive Plan	32			32
Shares withheld for employee taxes (in shares)			(220,282)
Shares withheld for employee taxes	(3,291)			(3,291)
Cancellation of restricted stock (in shares)			(29,425)
Stock based compensation expense	$ 12,712			10,899				1,813
Redemption of OP Units (in shares)	1,010,000		1,010,000
Redemption of OP Units	$ 13,389		$ 1	13,388				(13,389)
Adjustment to non-controlling interests ownership in Operating Partnership	0			(1,680)				1,680
Proceeds from the issuance of common stock (in shares)			904,290
Proceeds from the issuance of common stock	12,828		$ 0	12,828
Registration expenditures	(394)			(394)
Cash dividends	(80,064)	$ (445)			(75,450)	$ (260)		(4,614)	$ (185)
Net income attributable to Retail Opportunity Investments Corp.	34,534				34,534
Net income attributable to non-controlling interests	2,120							2,120
Other comprehensive income (loss)	$ 577						545	32
Balance (in shares) at Dec. 31, 2023	126,904,085		126,904,085
Balance at Dec. 31, 2023	$ 1,363,207		$ 13	$ 1,643,908	$ (357,160)		$ 559	$ 75,887

Mortgage Notes Payable, Credit Facilities and Senior Notes (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

The mortgage notes payable collateralized by respective properties and assignment of leases at December 31, 2023 and December 31, 2022, respectively, were as follows (in thousands, except interest rates):


	Maturity Date	Interest Rate		December 31,
Property				2023		2022


Fullerton Crossroads	April 2024	4.728	%	26,000		26,000
Diamond Hills Plaza	October 2025	3.550	%	34,045		34,731
				60,045		60,731
Unamortized mortgage premiums				72		288
Net unamortized deferred financing costs				(65)		(102)
Total mortgage notes payable				$	60,052	$	60,917

The key terms of the Operating Partnership’s Senior Notes are as follows:

Senior Notes

Aggregate Principal Amount (in thousands)

Issue Date and Interest Accrual Date

Maturity Date

Contractual Interest Rate

First Interest Payment

Interest Payments Due

Senior Notes Due 2028

350,000

September 21, 2023

October 15, 2028

6.75

April 15, 2024

April 15 and October 15

Senior Notes Due 2027

250,000

December 15, 2017

December 15, 2027

4.19

June 15, 2018

June 15 and December 15

Senior Notes Due 2026

200,000

September 22, 2016

September 22, 2026

3.95

March 22, 2017

March 22 and September 22

Senior Notes Due 2024

250,000

December 3, 2014

December 15, 2024

4.00

June 15, 2015

June 15 and December 15

The combined aggregate principal maturities of mortgage notes payable during the next five years and thereafter are as follows (in thousands):


	Principal Repayments		Scheduled Amortization		Mortgage Premium		Total
2024	$	26,000	$	708	$	72	$	26,780
2025	32,787		550		—		33,337




Thereafter	—		—		—		—
Total	$	58,787	$	1,258	$	72	$	60,117

The combined aggregate principal maturities of the Operating Partnership’s unsecured senior notes payable during the next five years and thereafter are as follows (in thousands):


	Principal Repayments
2024	$	250,000
2025	—
2026	200,000
2027	250,000
2028	350,000
Thereafter	—
Total	$	1,050,000

Schedule of Carrying Value of Debt

The carrying values of the Operating Partnership’s unsecured term loan (the “term loan”) were as follows (in thousands):


	December 31,
	2023		2022
Term loan	$	200,000	$	300,000
Net unamortized deferred financing costs	(255)		(747)
Term loan	$	199,745	$	299,253

The carrying value of the Operating Partnership’s Senior Notes are as follows (in thousands):


	December 31,
	2023		2022
Principal amount	$	1,050,000	$	950,000
Unamortized debt discount	(2,033)		(1,304)
Net unamortized deferred financing costs	(4,374)		(1,847)
Senior Notes	$	1,043,593	$	946,849

Schedule of Unamortized Deferred Financing Costs

The unamortized balances of deferred financing costs and discounts associated with the term loan, Senior Notes Due 2028, Senior Notes Due 2027, Senior Notes Due 2026, Senior Notes Due 2024, and mortgage notes payable, included as a direct reduction from the carrying amount of the related debt instrument in the consolidated balance sheets, and the unamortized balances of deferred financing costs associated with the credit facility, included in Deferred charges, net in the consolidated balance sheets as of December 31, 2023 that will be charged to future operations during the next five years and thereafter are as follows (in thousands):


	Financing Costs
2024	$	3,703
2025	2,873
2026	2,836
2027	1,479
2028	843
Thereafter	—
Total	$	11,734

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Organization, Basis of Presentation and Summary of Significant Accounting Policies - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental disclosure of cash activities:
Cash paid on gross receipts and income for federal and state purposes	$ 315	$ 386	$ 292
Interest paid	63,192	56,642	55,104
Other non-cash investing and financing activities:
Increase in intangible lease liabilities	0	30,981	21,563
Interest rate swap asset	592	0	0
Interest rate swap liabilities	0	(3,447)	(6,064)
Accrued real estate improvement costs	5,372	3,670	7,122
Equity Redemption of OP Units	13,389	5,071	6,858
Dividends and distributions payable	$ 21,011	$ 849	$ 24,219

Tenant Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Future minimum rents to be received under non-cancellable leases
2024	$ 223,572
2025	200,817
2026	172,190
2027	142,175
2028	109,621
Thereafter	370,075
Total minimum lease payments	$ 1,218,450

Schedule III - Real Estate and Accumulated Depreciation - Reconciliation of Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Balance	$ 578,593	$ 510,836	$ 460,165
Depreciation expenses	92,040	86,354	82,957
Properties sold during the year	0	(4,112)	(18,476)
Property assets fully depreciated and written off	(16,090)	(14,485)	(13,810)
Balance	$ 654,543	$ 578,593	$ 510,836

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred stock par value (in usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	126,904,085	124,538,811
Common stock, shares outstanding (in shares)	126,904,085	124,538,811

Mortgage Notes Payable, Credit Facilities and Senior Notes - Principal Repayments of Unsecured Senior Notes (Details) - Senior Notes - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
2024	$ 250,000,000
2025	0
2026	200,000,000
2027	250,000,000
2028	350,000,000
Thereafter	0
Total	$ 1,050,000,000	$ 950,000,000

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Share-Based Payment Arrangement [Abstract]

Stock Compensation and Other Benefit Plans for ROIC

12 Months Ended

Dec. 31, 2023

Stock Compensation and Other Benefit Plans for ROIC

ROIC follows the FASB guidance related to stock compensation which establishes financial accounting and reporting standards for stock-based employee compensation plans, including all arrangements by which employees receive shares of stock or other equity instruments of the employer, or the employer incurs liabilities to employees in amounts based on the price of the employer’s stock. The guidance also defines a fair value-based method of accounting for an employee stock option or similar equity instrument.

On April 25, 2022, the Company adopted the Company’s Second Amended and Restated 2009 Equity Incentive Plan (the “Equity Incentive Plan”) that amended and restated the Amended and Restated 2009 Equity Incentive Plan (the “Prior Plan”). The types of awards that may be granted under the Equity Incentive Plan include stock options, restricted shares, share appreciation rights, phantom shares, dividend equivalent rights and other equity-based awards. The Equity Incentive Plan has a fungible unit system that counts the number of shares of the Company’s common stock used in the issuance of full-value awards, such as restricted shares and LTIP Units, differently than the number of shares of common stock used in the issuance of stock options. A total of 10,954,694 Fungible Units (as defined in the Equity Incentive Plan) are reserved for grant under the Equity Incentive Plan. The 10,954,694 Fungible Units represent a maximum of 5,002,143 shares of the Company’s common stock that could be granted pursuant to the Equity Incentive Plan as full-value awards, such as restricted shares, based on the 2.19 to 1.0 Fungible Unit-to-full-value award conversion ratio. A maximum of 10,954,694 shares of the Company’s common stock may be issued pursuant to the Equity Incentive Plan if all grants made under the Equity Incentive Plan are granted as stock options, based on a 1.0 to 1.0 Fungible Unit-to-stock option award conversion ratio. The Equity Incentive Plan will expire on April 25, 2032.

The Company has made, under both the Equity Incentive Plan and the Prior Plan, certain awards in the form of a separate series of units of limited partnership interests in its Operating Partnership called LTIP Units. LTIP Units can be granted either as free-standing awards or in tandem with other awards under the Equity Incentive Plan. The LTIP Units are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, achievement of pre-established operational performance goals and market-indexed performance criteria. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units, in accordance with the Partnership Agreement) are ultimately redeemable for cash or at ROIC’s option, for shares of ROIC common stock on a one-for-one basis.

Restricted Stock

During the year ended December 31, 2023, ROIC awarded 505,953 shares of time-based restricted common stock under the Equity Incentive Plan.

A summary of the status of the Company’s non-vested restricted stock awards as of December 31, 2023, and changes during the year ended December 31, 2023 are presented below:


	Shares	Weighted Average Grant Date Fair Value
Non-vested as of December 31, 2022	1,310,598	$	17.85
Vested	(649,161)	$	17.22
Granted	505,953	$	14.56
Forfeited	(29,425)	$	14.43
Non-vested as of December 31, 2023	1,137,965	$	16.74

As of December 31, 2023, there remained a total of approximately $7.6 million of unrecognized restricted stock compensation expense related to outstanding non-vested restricted stock grants awarded under the Prior Plan. Restricted stock compensation is expected to be expensed over a remaining weighted average period of 1.5 years (irrespective of achievement of the performance conditions). The total fair value of restricted stock that vested during the years ended December 31, 2023, 2022 and 2021 was approximately $9.7 million, $7.9 million and $5.5 million, respectively.

LTIP Units

During the year ended December 31, 2023, ROIC awarded 245,972 LTIP Units under the Equity Incentive Plan. The LTIP Units vest based on both pre-defined operational and market-indexed performance criteria with a vesting date on January 1, 2026. The LTIP Units were issued at a weighted average grant date fair value of $14.97. Vested LTIP Units, after achieving parity with OP Units (as described in the Operating Partnership’s Second Amended and Restated Agreement of Limited Partnership, as amended (the “Partnership Agreement”)), are eligible to be converted into OP Units on a one-for-one basis upon the satisfaction of conditions set forth in the Partnership Agreement. Upon conversion of LTIP Units into OP Units, holders are able to redeem their OP Units for cash or, at ROIC’s option, for shares of ROIC common stock on a one-for-one basis.

As of December 31, 2023, there remained a total of approximately $3.6 million of unrecognized compensation expense related to outstanding non-vested LTIPs awarded under the Equity Incentive Plan. LTIP Unit compensation is expected to be expensed over a remaining weighted average period of 2.0 years.

Stock Based Compensation Expense

For the years ended December 31, 2023, 2022 and 2021, the amounts charged to expense for all stock based compensation arrangements totaled approximately $12.7 million, $11.9 million and $11.0 million, respectively.

Profit Sharing and Savings Plan

During 2011, the Company established a profit sharing and savings plan (the “401K Plan”), which permits eligible employees to defer a portion of their compensation in accordance with the Code. Under the 401K Plan, the Company made matching contributions on behalf of eligible employees. The Company made contributions to the 401K Plan of approximately $103,000, $97,000 and $95,000 for the years ended December 31, 2023, 2022 and 2021, respectively.

Consolidated Statements of Operations and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Rental revenue	$ 319,056	$ 308,960	$ 280,924
Other income	8,676	3,969	3,176
Total revenues	327,732	312,929	284,100
Operating expenses
Property operating	55,166	51,057	44,439
Property taxes	35,433	34,651	33,663
Depreciation and amortization	104,227	97,494	92,929
General and administrative expenses	21,854	21,735	19,654
Other expense	1,209	960	860
Total operating expenses	217,889	205,897	191,545
Gain on sale of real estate	0	7,653	22,340
Operating income	109,843	114,685	114,895
Non-operating expenses
Interest expense and other finance expenses	(73,189)	(59,225)	(57,535)
Net income	36,654	55,460	57,360
Net income attributable to non-controlling interests	(2,120)	(3,591)	(3,852)
Net Income Attributable to Retail Opportunity Investments Corp.	$ 34,534	$ 51,869	$ 53,508
Earnings per share/unit - basic (in dollars per share)	$ 0.27	$ 0.42	$ 0.44
Earnings per share/unit - diluted (in dollars per share)	0.27	0.42	0.44
Dividends per share (in dollars per share)	$ 0.60	$ 0.56	$ 0.51
Comprehensive income:
Net income	$ 36,654	$ 55,460	$ 57,360
Other comprehensive income:
Unrealized swap derivative gain arising during the period	1,582	1,104	216
Reclassification adjustment for amortization to interest expense included in net income	(1,005)	2,286	5,894
Other comprehensive income (loss)	577	3,390	6,110
Comprehensive income	37,231	58,850	63,470
Comprehensive income attributable to non-controlling interests	(2,152)	(3,813)	(4,304)
Comprehensive income attributable to Retail Opportunity Investments Corp.	35,079	55,037	59,166
Retail Opportunity Investments Partnership L.P.
Revenues
Rental revenue	319,056	308,960	280,924
Other income	8,676	3,969	3,176
Total revenues	327,732	312,929	284,100
Operating expenses
Property operating	55,166	51,057	44,439
Property taxes	35,433	34,651	33,663
Depreciation and amortization	104,227	97,494	92,929
General and administrative expenses	21,854	21,735	19,654
Other expense	1,209	960	860
Total operating expenses	217,889	205,897	191,545
Gain on sale of real estate	0	7,653	22,340
Operating income	109,843	114,685	114,895
Non-operating expenses
Interest expense and other finance expenses	(73,189)	(59,225)	(57,535)
Net income	$ 36,654	$ 55,460	$ 57,360
Earnings per share/unit - basic (in dollars per share)	$ 0.27	$ 0.42	$ 0.44
Earnings per share/unit - diluted (in dollars per share)	0.27	0.42	0.44
Dividends per share (in dollars per share)	$ 0.60	$ 0.56	$ 0.51
Comprehensive income:
Net income	$ 36,654	$ 55,460	$ 57,360
Other comprehensive income:
Unrealized swap derivative gain arising during the period	1,582	1,104	216
Reclassification adjustment for amortization to interest expense included in net income	(1,005)	2,286	5,894
Other comprehensive income (loss)	577	3,390	6,110
Comprehensive income	$ 37,231	$ 58,850	$ 63,470

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Reconciliation of Undiscounted Future Minimum Annual Lease Payments

The following table represents a reconciliation of the Company’s undiscounted future minimum annual lease payments under operating leases to the lease liability as of December 31, 2023 (in thousands):


	Operating Leases
2024	$	1,364
2025	1,369
2026	1,389
2027	1,417
2028	1,446
Thereafter	27,596
Total undiscounted future minimum lease payments	34,581
Future minimum lease payments, discount	(18,159)
Lease liability	$	16,422

Tenant Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Tenant Leases

Space in the Company’s shopping centers is leased to various tenants under operating leases that usually grant tenants renewal options and generally provide for additional rents based on certain operating expenses as well as tenants’ sales volume.

Future minimum rents to be received under non-cancellable leases as of December 31, 2023 are summarized as follows (in thousands):


Year Ending December 31:
2024	$	223,572
2025	200,817
2026	172,190
2027	142,175
2028	109,621
Thereafter	370,075
Total minimum lease payments	$	1,218,450

Common Stock of ROIC	12 Months Ended
Common Stock of ROIC	Dec. 31, 2023
Equity [Abstract]
Common Stock of ROIC	Common Stock of ROIC ATM On February 20, 2020, ROIC entered into an “at the market” sales agreement, as amended on April 27, 2022 (the “Sales Agreement”), with each of (i) KeyBanc Capital Markets Inc., BTIG, LLC, BMO Capital Markets Corp., BofA Securities, Inc., Capital One Securities, Inc., Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Raymond James & Associates, Inc., Regions Securities LLC, Robert W. Baird & Co. Incorporated and Wells Fargo Securities, LLC (collectively, the “Agents”) and (ii) the Forward Purchasers (as defined below), pursuant to which ROIC may sell, from time to time, shares (any such shares, the “Primary Shares”) of ROIC’s common stock, par value $0.0001 per share (“Common Stock”), to or through the Agents and instruct certain of the Agents, acting as forward sellers (the “Forward Sellers”), to offer and sell borrowed shares (any such shares, “Forward Hedge Shares,” and collectively with the Primary Shares, the “Shares”) with the Shares to be sold under the Sales Agreement having an aggregate offering price of up to $500.0 million. The Sales Agreement contemplates that, in addition to the issuance and sale of Primary Shares to or through the Agents as principal or its sales agents, ROIC may enter into separate forward sale agreements with any of KeyBanc Capital Markets Inc., BMO Capital Markets Corp., BofA Securities, Inc., Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, Raymond James & Associates, Inc. and Wells Fargo Securities, LLC or their respective affiliates (in such capacity, the “Forward Purchasers”). If ROIC enters into a forward sale agreement with any Forward Purchaser, ROIC expects that such Forward Purchaser or its affiliate will borrow from third parties and, through the relevant Forward Seller, sell a number of Forward Hedge Shares equal to the number of shares of Common Stock underlying the particular forward sale agreement, in accordance with the mutually accepted instructions related to such forward sale agreement. ROIC will not initially receive any proceeds from any sale of Forward Hedge Shares through a Forward Seller. ROIC expects to fully physically settle each particular forward sale agreement with the relevant Forward Purchaser on one or more dates specified by ROIC on or prior to the maturity date of that particular forward sale agreement by issuing shares of Common Stock (the “Confirmation Shares”), in which case ROIC expects to receive aggregate net cash proceeds at settlement equal to the number of shares of Common Stock underlying the particular forward sale agreement multiplied by the relevant forward sale price. However, ROIC may also elect to cash settle or net share settle a particular forward sale agreement, in which case ROIC may not receive any proceeds from the issuance of shares of Common Stock, and ROIC will instead receive or pay cash (in the case of cash settlement) or receive or deliver shares of Common Stock (in the case of net share settlement). For both the three months and year ended December 31, 2023, ROIC sold a total of 904,290 shares under the Sales Agreement, which resulted in gross proceeds of approximately $12.8 million and commissions of approximately $128,000 paid to the Agents. Stock Repurchase Program On July 31, 2013, ROIC’s board of directors authorized a stock repurchase program to repurchase up to a maximum of $50.0 million of the Company’s common stock. During the year ended December 31, 2023, the Company did not repurchase any shares of common stock under this program.

The entire disclosure for equity.

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Goodwill and Intangible Assets Disclosure [Abstract]

Acquired Lease Intangibles (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Intangible Assets and Liabilities

Intangible assets and liabilities as of December 31, 2023 and December 31, 2022 consisted of the following (in thousands):


	December 31,
	2023		2022
Assets:
In-place leases	$	65,300	$	70,133
Accumulated amortization	(29,084)		(27,405)
Above-market leases	17,543		21,307
Accumulated amortization	(10,968)		(11,607)
Acquired lease intangible assets, net	$	42,791	$	52,428
Liabilities:
Below-market leases	$	191,294	$	205,421
Accumulated amortization	(53,474)		(53,304)
Acquired lease intangible liabilities, net	$	137,820	$	152,117

Schedule of Future Amortization of Acquired Lease Intangible Assets

The scheduled future amortization of acquired lease intangible assets as of December 31, 2023 is as follows (in thousands):


Year Ending December 31:
2024	$	5,550
2025	4,687
2026	3,802
2027	3,150
2028	2,864
Thereafter	22,738
Total future amortization of acquired lease intangible assets	$	42,791

Schedule of Future Amortization of Acquired Lease Intangible Liabilities

The scheduled future amortization of acquired lease intangible liabilities as of December 31, 2023 is as follows (in thousands):


Year Ending December 31:
2024	$	11,474
2025	10,893
2026	10,031
2027	9,347
2028	8,969
Thereafter	87,106
Total future amortization of acquired lease intangible liabilities	$	137,820

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

(in thousands)


			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition				Amount at Which Carried at Close of Period
Description and Location	Encumbrances		Land		Building & Improvements		Land		Building & Improvements		Land		Building & Improvements		Total (a)		Accumulated Depreciation (b) (1)		Date of Acquisition

Paramount Plaza, CA	$	—	$	6,347	$	10,274	$	930	$	1,456	$	7,277	$	11,730	$	19,007	$	5,045	12/22/2009
Santa Ana Downtown Plaza, CA	—		7,895		9,890		—		3,733		7,895		13,623		21,518		5,244		1/26/2010
Meridian Valley Plaza, WA	—		1,881		4,795		—		1,633		1,881		6,428		8,309		3,073		2/1/2010
The Market at Lake Stevens, WA	—		3,087		12,397		—		(321)		3,087		12,076		15,163		4,480		3/16/2010
Pleasant Hill Marketplace, CA	—		6,359		6,927		—		869		6,359		7,796		14,155		3,300		4/8/2010
Happy Valley Town Center, OR	—		11,678		27,011		—		4,889		11,678		31,900		43,578		12,680		7/14/2010
Cascade Summit Town Square, OR	—		8,853		7,732		—		3,486		8,853		11,218		20,071		3,692		8/20/2010
Heritage Market Center, WA	—		6,595		17,399		—		2,181		6,595		19,580		26,175		7,356		9/23/2010
Claremont Promenade, CA	—		5,975		1,019		183		4,439		6,158		5,458		11,616		3,162		9/23/2010
Sycamore Creek, CA	—		3,747		11,584		—		552		3,747		12,136		15,883		5,217		9/30/2010
Gateway Village, CA	—		5,917		27,298		—		1,270		5,917		28,568		34,485		10,974		12/16/2010
Division Crossing, OR	—		3,706		8,327		8		5,950		3,714		14,277		17,991		7,043		12/22/2010
Halsey Crossing, OR (2)	—		—		7,773		—		7,985		—		15,758		15,758		6,300		12/22/2010
Marketplace Del Rio, CA	—		13,420		22,251		9		8,115		13,429		30,366		43,795		10,527		1/3/2011
Pinole Vista Shopping Center, CA	—		14,288		36,565		—		10,780		14,288		47,345		61,633		13,841		1/6/2011
Desert Springs Marketplace, CA	—		8,517		18,761		443		8,343		8,960		27,104		36,064		9,490		2/17/2011
Renaissance Towne Centre, CA	—		8,640		13,848		—		3,433		8,640		17,281		25,921		6,273		8/3/2011
Country Club Gate Center, CA	—		6,487		17,341		—		1,200		6,487		18,541		25,028		6,424		7/8/2011
Canyon Park Shopping Center, WA	—		9,352		15,916		—		8,531		9,352		24,447		33,799		10,264		7/29/2011
Hawks Prairie Shopping Center, WA	—		5,334		20,694		—		4,277		5,334		24,971		30,305		8,876		9/8/2011
The Kress Building, WA	—		5,693		20,866		—		3,336		5,693		24,202		29,895		8,552		9/30/2011
Hillsboro Market Center, OR (2)	—		—		17,553		—		4,589		—		22,142		22,142		8,983		11/23/2011
Gateway Shopping Center, WA (2)	—		6,242		23,462		—		1,071		6,242		24,533		30,775		8,282		2/16/2012
Marlin Cove Shopping Center, CA	—		8,815		6,797		—		1,633		8,815		8,430		17,245		3,551		5/4/2012
Seabridge Marketplace, CA	—		5,098		17,164		—		4,289		5,098		21,453		26,551		6,699		5/31/2012
The Village at Novato, CA	—		5,329		4,412		—		3,389		5,329		7,801		13,130		1,772		7/24/2012
Glendora Shopping Center, CA	—		5,847		8,758		12		(80)		5,859		8,678		14,537		2,956		8/1/2012
Wilsonville Old Town Square, OR	—		4,181		15,394		—		2,063		4,181		17,457		21,638		5,483		2010/2012
Bay Plaza, CA	—		5,454		14,857		75		1,440		5,529		16,297		21,826		5,364		10/5/2012
Santa Teresa Village, CA	—		14,965		17,162		—		14,850		14,965		32,012		46,977		9,665		11/8/2012
Cypress Center West, CA	—		15,480		11,819		134		2,172		15,614		13,991		29,605		4,778		12/7/2012
Redondo Beach Plaza, CA	—		16,242		13,625		150		129		16,392		13,754		30,146		4,229		12/28/2012
Harbor Place Center, CA	—		16,506		10,527		—		13,147		16,506		23,674		40,180		4,540		12/28/2012


		Initial Cost to Company		Cost Capitalized Subsequent to Acquisition		Amount at Which Carried at Close of Period
Description and Location	Encumbrances	Land	Building & Improvements	Land	Building & Improvements	Land	Building & Improvements	Total (a)	Accumulated Depreciation (b) (1)	Date of Acquisition

Diamond Bar Town Center, CA	—	9,540	16,795	3	4,534	9,543	21,329	30,872	8,683	2/1/2013
Bernardo Heights Plaza, CA	—	3,192	8,940	—	873	3,192	9,813	13,005	3,396	2/6/2013
Canyon Crossing, WA	—	7,941	24,659	—	2,288	7,941	26,947	34,888	10,038	4/15/2013
Diamond Hills Plaza, CA	34,045	15,458	29,353	—	4,309	15,458	33,662	49,120	9,684	4/22/2013
Granada Shopping Center, CA	—	3,673	13,459	—	6,771	3,673	20,230	23,903	4,260	6/27/2013
Hawthorne Crossings, CA	—	10,383	29,277	—	513	10,383	29,790	40,173	8,906	6/27/2013
Robinwood Shopping Center, OR	—	3,997	11,317	18	780	4,015	12,097	16,112	3,744	8/23/2013
5 Points Plaza, CA	—	17,920	36,965	—	7,433	17,920	44,398	62,318	12,785	9/27/2013
Crossroads Shopping Center, WA	—	68,366	67,756	—	44,835	68,366	112,591	180,957	32,303	2010/2013
Peninsula Marketplace, CA	—	14,730	19,214	—	1,470	14,730	20,684	35,414	6,044	11/1/2013
Country Club Village, CA	—	9,986	26,579	—	1,285	9,986	27,864	37,850	8,314	11/26/2013
Plaza de la Canada, CA (2)	—	10,351	24,819	—	1,424	10,351	26,243	36,594	7,714	12/13/2013
Tigard Marketplace, OR	—	13,520	9,603	—	243	13,520	9,846	23,366	3,631	2/18/2014
Creekside Plaza, CA	—	14,807	29,476	—	8,302	14,807	37,778	52,585	10,595	2/28/2014
North Park Plaza, CA	—	13,593	17,733	—	3,796	13,593	21,529	35,122	6,017	4/30/2014
Fallbrook Shopping Center, CA (2)	—	21,232	186,197	83	8,718	21,315	194,915	216,230	53,208	6/13/2014
Moorpark Town Center, CA	—	7,063	19,694	—	770	7,063	20,464	27,527	5,455	12/4/2014
Mission Foothill Marketplace Pads, CA	—	3,996	11,051	14	884	4,010	11,935	15,945	2,831	12/4/2014
Wilsonville Town Center, OR	—	10,334	27,101	—	1,426	10,334	28,527	38,861	7,903	12/11/2014
Park Oaks Shopping Center, CA	—	8,527	38,064	—	612	8,527	38,676	47,203	10,186	1/6/2015
Ontario Plaza, CA	—	9,825	26,635	—	1,043	9,825	27,678	37,503	7,814	1/6/2015
Winston Manor, CA	—	10,018	9,762	—	2,290	10,018	12,052	22,070	3,456	1/7/2015
Jackson Square, CA	—	6,886	24,558	—	995	6,886	25,553	32,439	6,611	7/1/2015
Tigard Promenade, OR	—	9,844	10,843	—	389	9,844	11,232	21,076	2,795	7/28/2015
Sunnyside Village Square, OR	—	4,428	13,324	—	2,541	4,428	15,865	20,293	4,871	7/28/2015
Gateway Centre, CA	—	16,275	28,308	—	3,949	16,275	32,257	48,532	7,799	9/1/2015
Johnson Creek Center, OR	—	9,009	22,534	—	1,081	9,009	23,615	32,624	5,986	11/9/2015
Iron Horse Plaza, CA	—	8,187	39,654	11	2,765	8,198	42,419	50,617	10,212	12/4/2015
Bellevue Marketplace, WA	—	10,488	39,119	—	11,084	10,488	50,203	60,691	12,096	12/10/2015
Four Corner Square, WA	—	9,926	31,415	38	(6)	9,964	31,409	41,373	7,634	12/21/2015
Warner Plaza, CA	—	16,104	60,188	—	12,742	16,104	72,930	89,034	17,511	12/31/2015
Magnolia Shopping Center, CA	—	12,501	27,040	250	2,073	12,751	29,113	41,864	6,987	3/10/2016
Casitas Plaza Shopping Center, CA	—	10,734	22,040	—	1,703	10,734	23,743	34,477	5,440	3/10/2016
Bouquet Center, CA	—	10,040	48,362	37	911	10,077	49,273	59,350	10,691	4/28/2016
North Ranch Shopping Center, CA	—	31,522	95,916	—	4,750	31,522	100,666	132,188	20,950	6/1/2016
Monterey Center, CA (2)	—	1,073	10,609	—	746	1,073	11,355	12,428	2,590	7/14/2016
Rose City Center, OR (2)	—	3,637	10,301	—	(105)	3,637	10,196	13,833	2,130	9/15/2016


			Initial Cost to Company				Cost Capitalized Subsequent to Acquisition				Amount at Which Carried at Close of Period
Description and Location	Encumbrances		Land		Building & Improvements		Land		Building & Improvements		Land		Building & Improvements		Total (a)		Accumulated Depreciation (b) (1)		Date of Acquisition

The Knolls, CA	—		9,726		18,299		—		155		9,726		18,454		28,180		4,068		10/3/2016
Bridle Trails Shopping Center, WA	—		11,534		20,700		—		9,721		11,534		30,421		41,955		7,571		10/17/2016
Torrey Hills Corporate Center, CA	—		5,579		3,915		—		135		5,579		4,050		9,629		936		12/6/2016
PCC Community Markets Plaza, WA (2)	—		1,856		6,914		—		7		1,856		6,921		8,777		1,559		1/25/2017
The Terraces, CA	—		18,378		37,103		—		1,748		18,378		38,851		57,229		8,092		3/17/2017
Santa Rosa Southside Shopping Center, CA	—		5,595		24,453		—		12,088		5,595		36,541		42,136		6,847		3/24/2017
Division Center, OR	—		6,912		26,098		—		8,921		6,912		35,019		41,931		6,205		4/5/2017
Highland Hill Shopping Center, WA	—		10,511		37,825		70		2,979		10,581		40,804		51,385		7,371		5/9/2017
Monta Loma Plaza, CA	—		18,226		11,113		—		205		18,226		11,318		29,544		2,156		9/19/2017
Fullerton Crossroads, CA	26,000		28,512		45,419		—		1,532		28,512		46,951		75,463		8,933		10/11/2017
Riverstone Marketplace, WA	—		5,113		27,594		—		598		5,113		28,192		33,305		5,104		10/11/2017
North Lynnwood Shopping Center, WA	—		4,955		10,335		21		5,368		4,976		15,703		20,679		3,291		10/19/2017
The Village at Nellie Gail Ranch, CA	—		22,730		22,578		—		2,131		22,730		24,709		47,439		4,969		11/30/2017
Stadium Center, WA	—		1,699		17,229		74		91		1,773		17,320		19,093		2,737		2/23/2018
King City Plaza, OR	—		5,161		10,072		—		1,385		5,161		11,457		16,618		1,812		5/18/2018
Summerwalk Village, WA	—		4,312		7,567		—		3,157		4,312		10,724		15,036		1,349		12/13/2019
Canyon Creek Plaza, CA	—		13,067		13,455		—		50		13,067		13,505		26,572		1,348		9/1/2021
Palomar Village, CA	—		9,642		26,925		—		1,325		9,642		28,250		37,892		2,341		10/12/2021
South Point Plaza, WA	—		18,465		25,491		3		1,093		18,468		26,584		45,052		2,385		11/10/2021
Olympia West Center, WA	—		5,714		18,378		—		(67)		5,714		18,311		24,025		1,311		12/6/2021
Powell Valley Junction, OR	—		6,335		15,685		—		1,629		6,335		17,314		23,649		930		4/1/2022
Olympia Square North, WA	—		6,005		15,999		—		(6)		6,005		15,993		21,998		893		4/1/2022
Village Oaks Shopping Center, CA	—		10,757		19,626		—		455		10,757		20,081		30,838		1,085		5/17/2022
Thomas Lake Shopping Center, WA	—		16,383		18,685		—		(258)		16,383		18,427		34,810		927		8/19/2022
Ballinger Village, WA	—		11,699		16,268		35		1,453		11,734		17,721		29,455		910		8/19/2022
Foothill Plaza, CA	—		8,748		13,122		—		—		8,748		13,122		21,870		28		12/1/2023
Total	$	60,045	$	964,650	$	2,159,706	$	2,601	$	340,941	$	967,251	$	2,500,647	$	3,467,898	$	654,543

a.RECONCILIATION OF REAL ESTATE – OWNED SUBJECT TO OPERATING LEASES (in thousands)


	Year Ended December 31,
	2023		2022		2021
Balance at beginning of period:	$	3,411,093	$	3,266,155	$	3,156,552
Property improvements during the year	50,850		55,086		48,570
Properties acquired during the year	21,870		134,706		136,105
Properties sold during the year	—		(30,995)		(61,491)
Assets written off during the year	(15,915)		(13,859)		(13,581)
Balance at end of period:	$	3,467,898	$	3,411,093	$	3,266,155

b.RECONCILIATION OF ACCUMULATED DEPRECIATION (in thousands)


	Year Ended December 31,
	2023		2022		2021
Balance at beginning of period:	$	578,593	$	510,836	$	460,165
Depreciation expenses	92,040		86,354		82,957
Properties sold during the year	—		(4,112)		(18,476)
Property assets fully depreciated and written off	(16,090)		(14,485)		(13,810)
Balance at end of period:	$	654,543	$	578,593	$	510,836

(1)Depreciation and investments in building and improvements reflected in the consolidated statements of operations is calculated over the estimated useful life of the assets as follows:

Building: 39-40 years

Property Improvements: 10-20 years

(2)Property, or a portion thereof, is subject to a ground lease.

(3)The aggregate cost for Federal Income Tax Purposes for real estate was approximately $3.2 billion at December 31, 2023.

Mortgage Notes Payable, Credit Facilities and Senior Notes - Narrative (Details)			12 Months Ended
	Sep. 21, 2023 USD ($)	Mar. 02, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 20, 2019 credit_facility_extension	Nov. 10, 2017 USD ($)	Jul. 26, 2016 USD ($)	Dec. 03, 2014 USD ($)	Dec. 09, 2013 USD ($)
Debt Instrument [Line Items]
Repayments of Unsecured Debt			$ 100,000,000	$ 0	$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000
Number of extension options \| credit_facility_extension						2
Extension term		6 months
Commitment fee (in percentage)			0.20%
Fronting fee (percentage)			0.125%
Credit facility			$ 75,000,000	88,000,000
Unamortized deferred financing costs			$ 5,000,000	1,000,000
Line of credit facility, interest rate during period (in percentage)			5.90%
Remaining borrowing capacity			$ 525,000,000
Revolving Credit Facility \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Variable rate (percentage)		0.50%
Revolving Credit Facility \| Adjusted Term SOFR
Debt Instrument [Line Items]
Variable rate (percentage)		1.00%
Letter of Credit
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount			150,000
Senior Notes
Debt Instrument [Line Items]
Principal amount			1,050,000,000	950,000,000
Unamortized deferred financing costs			4,374,000	1,847,000
Term Loan Agreement
Debt Instrument [Line Items]
Principal amount		$ 300,000,000	200,000,000	300,000,000
Additional borrowing capacity		$ 200,000,000
Variable rate (percentage)		1.00%
Unamortized deferred financing costs			$ 255,000	$ 747,000
Interest rate during period (in percentage)			6.10%
Swapped interest rate			5.40%
Remaining borrowing capacity			$ 0
Repayments of Unsecured Debt	$ 100,000,000
Term Loan Agreement \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Variable rate (percentage)		0.50%
Term Loan Agreement \| SOFR
Debt Instrument [Line Items]
Variable rate (percentage)		0.10%
Term Loan Agreement \| Base Rate
Debt Instrument [Line Items]
Variable rate (percentage)		0.00%
Term Loan Agreement \| Adjusted Term SOFR
Debt Instrument [Line Items]
Variable rate (percentage)		1.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Variable rate (percentage)		0.85%
Revolving Credit Facility \| SOFR
Debt Instrument [Line Items]
Variable rate (percentage)		0.10%
Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Variable rate (percentage)		0.00%
Credit Facility including accordion feature \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 1,200,000,000
Senior Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 350,000,000
Interest rate (in percentage)	6.75%
Senior Notes Due 2023 \| Senior Notes
Debt Instrument [Line Items]
Principal amount										$ 250,000,000
Two Swaps
Debt Instrument [Line Items]
Long-Term Debt, Gross			$ 150,000,000
Senior Notes Due 2027 \| Senior Notes
Debt Instrument [Line Items]
Principal amount							$ 250,000,000
Interest rate (in percentage)							4.19%
Senior Notes Due 2026 \| Senior Notes
Debt Instrument [Line Items]
Principal amount								$ 200,000,000
Interest rate (in percentage)								3.95%
Senior Notes Due 2024 \| Senior Notes
Debt Instrument [Line Items]
Principal amount									$ 250,000,000
Interest rate (in percentage)									4.00%

Real Estate Investments - Operating Results Included For Property Assets Acquired (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of operations:
Revenues	$ 163	$ 6,450
Net income attributable to Retail Opportunity Investments Corp.	$ 93	$ 2,261

Organization, Basis of Presentation and Summary of Significant Accounting Policies - Dividends Declared (Details) - $ / shares					12 Months Ended
	Dec. 15, 2023	Sep. 15, 2023	Jun. 16, 2023	Mar. 17, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Declared per Share of Common Stock
Dividends per share (in dollars per share)	$ 0.1500	$ 0.1500	$ 0.1500	$ 0.1500	$ 0.60	$ 0.56	$ 0.51
Ordinary Income per Share (in dollars per share)	0.1500	0.1500	0.1500	0.1500
Section 199A Dividends (in dollars per share)	$ 0.1500	$ 0.1500	$ 0.1500	$ 0.1500

Mortgage Notes Payable, Credit Facilities and Senior Notes - Carrying Value of the Company’s Unsecured Debt (Details) - USD ($)	Dec. 31, 2023	Mar. 02, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Senior Notes	$ 1,043,593,000		$ 946,849,000
Term Loan Agreement
Debt Instrument [Line Items]
Principal amount	200,000,000	$ 300,000,000	300,000,000
Net unamortized deferred financing costs	(255,000)		(747,000)
Total	199,745,000		299,253,000
Senior Notes
Debt Instrument [Line Items]
Principal amount	1,050,000,000		950,000,000
Unamortized debt discount	(2,033,000)		(1,304,000)
Net unamortized deferred financing costs	(4,374,000)		(1,847,000)
Senior Notes	$ 1,043,593,000		$ 946,849,000

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Schedule IV - Mortgage Loans on Real Estate

12 Months Ended

Dec. 31, 2023

Schedule IV - Mortgage Loans on Real Estate

SCHEDULE IV – MORTGAGE LOANS ON REAL ESTATE

December 31, 2023

(in thousands)

a.RECONCILIATION OF MORTGAGE LOANS ON REAL ESTATE (in thousands)


	Year Ended December 31,
	2023		2022		2021
Balance at beginning of period:	$	4,786	$	4,875	$	4,959

Repayments on mortgage note receivable	(92)		(89)		(84)
Balance at end of period:	$	4,694	$	4,786	$	4,875

Mortgage Notes Payable, Credit Facilities and Senior Notes - Mortgage Notes Payable (Details) - Mortgage Notes Payable - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 60,045	$ 60,731
Unamortized mortgage premiums	72	288
Net unamortized deferred financing costs	(65)	(102)
Total mortgage notes payable	$ 60,052	60,917
Fullerton Crossroads
Debt Instrument [Line Items]
Interest Rate (in percentage)	4.728%
Long-term debt	$ 26,000	26,000
Diamond Hills Plaza
Debt Instrument [Line Items]
Interest Rate (in percentage)	3.55%
Long-term debt	$ 34,045	$ 34,731

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.