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Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2013	Apr. 30, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	Retail Opportunity Investments Corp
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		66,430,488
Amendment Flag	false
Entity Central Index Key	0001407623
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Mar. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1

Consolidated Balance Sheet - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Real Estate Investments:
Land	$ 296,177,411	$ 283,445,257
Building and improvements	617,112,385	588,248,338
	913,289,796	871,693,595
Less: accumulated depreciation	37,851,711	32,364,772
	875,438,085	839,328,823
Mortgage note receivable	10,294,000	10,000,000
Investment in and advances to unconsolidated joint venture	15,526,417	15,295,223
Real Estate Investments, net	901,258,502	864,624,046
Cash and cash equivalents	6,893,609	4,692,230
Restricted cash	1,879,697	1,700,692
Tenant and other receivables	13,973,065	12,455,190
Deposits	2,000,000	2,000,000
Acquired lease intangible asset, net of accumulated amortization	40,345,275	41,230,616
Prepaid expenses	3,099,149	1,245,778
Deferred charges, net of accumulated amortization	21,974,857	21,623,474
Other	948,774	1,339,501
Total assets	992,372,928	950,911,527
Liabilities:
Term loan	200,000,000	200,000,000
Credit facility	18,000,000	119,000,000
Mortgage notes payable	81,753,145	72,689,842
Acquired lease intangibles liability, net of accumulated amortization	56,773,932	57,371,803
Accounts payable and accrued expenses	3,799,600	6,468,580
Tenants' security deposits	2,428,389	2,336,680
Other liabilities	24,387,028	26,502,551
Total liabilities	387,142,094	484,369,456
Commitments and contingencies
Equity:
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 66,410,588 and 52,596,754 shares issued and outstanding at March 31, 2013 and December 31, 2012	6,635	5,260
Additional paid-in-capital	668,342,198	523,540,268
Accumulated deficit	(46,485,714)	(38,851,234)
Accumulated other comprehensive loss	(16,634,674)	(18,154,612)
Total Retail Opportunity Investments Corp. stockholders' equity	605,228,445	466,539,682
Noncontrolling interests	2,389	2,389
Total equity	605,230,834	466,542,071
Total liabilities and equity	$ 992,372,928	$ 950,911,527

Consolidated Balance Sheet (Parentheticals) - $ / shares	Mar. 31, 2013	Dec. 31, 2012
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	66,410,588	52,596,754
Common stock, shares outstanding	66,410,588	52,596,754

Consolidated Statement Of Operations And Comprehensive Income (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Revenues
Base rents	$ 19,349,561	$ 13,341,420
Recoveries from tenants	4,830,829	3,104,042
Mortgage interest	204,059	202,222
Total revenues	24,384,449	16,647,684
Operating expenses
Property operating	4,158,881	2,969,348
Property taxes	2,315,178	1,599,159
Depreciation and amortization	8,881,130	6,649,818
General & Administrative Expenses	2,736,581	2,419,838
Acquisition transaction costs	408,836	122,843
Total operating expenses	18,500,606	13,761,006
Operating income	5,883,843	2,886,678
Non-operating income (expenses)
Interest expense and other finance expenses	(3,825,151)	(2,293,748)
Equity in earnings from unconsolidated joint ventures	231,194	524,329
Interest income		10,145
Net Income Attributable to Retail Opportunity Investments Corp.	$ 2,289,886	$ 1,127,404
Basic and diluted per share: (in Dollars per share)	$ 0.04	$ 0.02
Dividends per common share (in Dollars per share)	$ 0.15	$ 0.12
Unrealized gain on swap derivative
Unrealized swap derivative gain arising during the period	$ 322,254	$ 394,464
Reclassification adjustment for amortization of interest expense included in net income	1,197,684	572,076
Unrealized gain on swap derivative	1,519,938	966,540
Total other comprehensive income	1,519,938	966,540
Total Comprehensive income	$ 3,809,824	$ 2,093,944

Consolidated Statements of Equity (unaudited) - 3 months ended Mar. 31, 2013 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	Total
Balance at Dec. 31, 2012	$ 5,260	$ 523,540,268	$ (38,851,234)	$ (18,154,612)	$ 2,389	$ 466,542,071
Balance (in Shares) at Dec. 31, 2012	52,596,754					52,596,754
Shares issued under the 2009 Plan	$ 19	(19)
Shares issued under the 2009 Plan (in Shares)	191,414
Repurchase of common stock	$ (2)	(280,972)				$ (280,974)
Repurchase of common stock (in Shares)	(21,865)
Retirement of options		(268,550)				(268,550)
Stock based compensation expense		596,220				596,220
Proceeds from the exercise of warrants	$ 1,290	155,468,124				155,469,414
Proceeds from the exercise of warrants (in Shares)	12,955,785
Exercise of Sponsor warrants	$ 68	(68)
Exercise of Sponsor warrants (in Shares)	688,500
Buyback of warrants		(10,687,500)				(10,687,500)
Registration expenditures		(25,305)				(25,305)
Dividends ($.15 per share)			(9,896,866)			(9,896,866)
Dividends payable on performance-based shares			(27,500)			(27,500)
Net Income Attributable to Retail Opportunity Investments Corp.			2,289,886			2,289,886
Other comprehensive gain				1,519,938		1,519,938
Balance at Mar. 31, 2013	$ 6,635	$ 668,342,198	$ (46,485,714)	$ (16,634,674)	$ 2,389	$ 605,230,834
Balance (in Shares) at Mar. 31, 2013	66,410,588					66,410,588

Consolidated Statements of Equity (unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2013 $ / shares
Retained Earnings [Member]
Dividends per share	$ 0.15
Dividends per share	$ 0.15

Consolidated Statements Of Cash Flow (unaudited)	3 Months Ended
Consolidated Statements Of Cash Flow (unaudited)	Mar. 31, 2013 USD ($)	Mar. 31, 2012 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,289,886	$ 1,127,404
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	8,881,130	6,649,818
Amortization of deferred financing costs and mortgage premiums, net	113,863	110,582
Straight-line rent adjustment	(1,021,723)	(959,388)
Amortization of above and below market rent	(1,080,739)	(748,257)
Amortization relating to stock based compensation	596,220	555,199
Provisions for tenant credit losses	312,348	382,608
Equity earned in earnings from unconsolidated joint ventures	(231,194)	(524,329)
Distribution of cumulative earnings from unconsolidated joint ventures		234,000
Other	108,411
Change in operating assets and liabilities
Restricted cash	(72,890)	(361,907)
Tenant and other receivables	(208,501)	(248,680)
Prepaid expenses	(1,853,371)	(308,334)
Accounts payable and accrued expenses	(2,704,999)	(2,307,295)
Other asset and liabilities, net	(714,820)	512,686
Net cash provided by operating activities	4,413,621	4,114,107
CASH FLOWS FROM INVESTING ACTIVITIES
Investments in real estate	(28,955,340)	(36,471,938)
Investments in mortgage notes receivables	(294,000)
Investments in unconsolidated joint ventures		(735,000)
Return of capital from unconsolidated joint ventures		617,500
Improvements to properties	(3,093,770)	(1,603,327)
Deposits on real estate acquisitions	(2,000,000)	(500,000)
Construction escrows and other	(106,115)	(110,364)
Net cash used in investing activities	(34,449,225)	(38,803,129)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal repayment on mortgages	(365,198)	(263,089)
Proceeds from the draw on term loan/credit facility	32,000,000	15,000,000
Payments on credit facility	(133,000,000)
Proceeds from exercise of warrants	154,869,414
Payments to acquire warrants	(10,687,500)
Proceeds from the sale of stock		2,556,422
Deferred financing and other costs	(108,038)	(130,986)
Registration expenditures	(25,305)	(97,915)
Dividends paid to common shareholders	(9,896,866)	(5,954,011)
Repurchase of common stock	(280,974)
Retirement of options	(268,550)
Net cash provided by financing activities	32,236,983	11,110,421
Net increase (decrease) in cash and cash equivalents	2,201,379	(23,578,601)
Cash and cash equivalents at beginning of period	4,692,230	34,317,588
Cash and cash equivalents at end of period	6,893,609	10,738,987
Other non-cash investing and financing activities:
Assumed mortgage at fair value	9,670,900
Intangible lease liabilities	1,056,997	1,235,988
Proceeds receivable from exercise of warrants	$ 600,000
Accrued real estate improvement costs		$ 106,659

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2013

Significant Accounting Policies [Text Block]

1.	Organization, Basis of Presentation and Summary of Significant Accounting Policies

Business

Retail Opportunity Investments Corp. (the "Company") is a fully integrated and self-managed real estate investment trust ("REIT"). The Company specializes in the acquisition, ownership and management of necessity-based community and neighborhood shopping centers in the western and eastern regions of the United States anchored by national and regional supermarkets and drugstores. The Company refers to the properties it targets for investments as its target assets.

With the approval of its stockholders, the Company reincorporated as a Maryland corporation on June 2, 2011. The Company began operations as a Delaware corporation, known as NRDC Acquisition Corp., which was incorporated on July 10, 2007, for the purpose of acquiring assets or operating business through a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination with one or more assets or control of one or more operating businesses. On October 20, 2009, the Company's stockholders and warrantholders approved each of the proposals presented at the special meetings of stockholders and warrantholders, respectively, in connection with the transactions contemplated by the Framework Agreement (the "Framework Agreement") the Company entered into on August 7, 2009 with NRDC Capital Management, LLC, which, among other things, set forth the steps to be taken by the Company to continue its business as a corporation that has elected to qualify as a REIT for U.S. federal income tax purposes, commencing with its taxable year ended December 31, 2010. The Company is organized in a traditional umbrella partnership real estate investment trust ("UpREIT") format pursuant to which Retail Opportunity Investments GP, LLC, its wholly-owned subsidiary, serves as the general partner of, and the Company conducts substantially all of its business through, its wholly-owned operating partnership subsidiary, Retail Opportunity Investments Partnership, LP, a Delaware limited partnership (the "operating partnership"), and its subsidiaries.

Recent Accounting Pronouncements

In February 2013, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update to improve the reporting of reclassifications out of accumulated other comprehensive income (“AOCI”), requiring companies to present information about reclassifications out of AOCI in one place and by component. This guidance is effective for interim and annual periods beginning on or after December 15, 2012. Adoption of this guidance did not have a material impact on the Company’s consolidated financial statements.

Principles of Consolidation

The accompanying consolidated financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the disclosures required by GAAP for complete financial statement disclosures. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Results of operations for the three month period ended March 31, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. It is suggested that these financial statements be read in conjunction with the financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2012.

The consolidated financial statements include the accounts of the Company and those of its subsidiaries, which are wholly-owned or controlled by the Company. Entities which the Company does not control through its voting interest and entities which are variable interest entities ("VIEs"), but where it is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated.

The Company follows the FASB guidance for determining whether an entity is a VIE and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE.

A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the consolidated balance sheet and modifies the presentation of net income by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests.

The Company assesses the accounting treatment for each joint venture. This assessment includes a review of each joint venture or limited liability company agreement to determine which party has what rights and whether those rights are protective or participating. For all VIEs, the Company reviews such agreements in order to determine which party has the power to direct the activities that most significantly impact the entity's economic performance. In situations where the Company or its partner approves, among other things, the annual budget, receives a detailed monthly reporting package from the Company, meets on a quarterly basis to review the results of the joint venture, reviews and approves the joint venture's tax return before filing, and approves all leases that cover more than a nominal amount of space relative to the total rentable space at each property, the Company does not consolidate the joint venture as it considers these to be substantive participation rights that result in shared power of the activities that most significantly impact the performance of the joint venture. The Company's joint venture agreements also contain certain protective rights such as the requirement of partner approval to sell, finance or refinance the property and the payment of capital expenditures and operating expenditures outside of the approved budget or operating plan.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the disclosure of contingent assets and liabilities, the reported amounts of assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the periods covered by the financial statements. The most significant assumptions and estimates relate to the purchase price allocations, depreciable lives, revenue recognition and the collectability of tenant receivables, other receivables, notes receivables, the valuation of performance based restricted stock, stock options, warrants, and derivatives. Actual results could differ from these estimates.

Federal Income Taxes

Commencing with the Company's taxable year ended December 31, 2010, the Company has elected to qualify as a REIT under Sections 856-860 of the Internal Revenue Code (the "Code"). Under those sections, a REIT that, among other things, distributes at least 90% of REIT taxable income and meets certain other qualifications prescribed by the Code will not be taxed on that portion of its taxable income that is distributed.

Although it may qualify as a REIT for U.S. federal income tax purposes, the Company is subject to state income or franchise taxes in certain states in which some of its properties are located. In addition, taxable income from non-REIT activities managed through the Company's taxable REIT subsidiary ("TRS") is fully subject to U.S. federal, state and local income taxes.

The Company follows the FASB guidance that defines a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The FASB also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company records interest and penalties relating to unrecognized tax benefits, if any, as interest expense. As of March 31, 2013, the tax years 2009 through and including 2012 remain open to examination by the Internal Revenue Service ("IRS") and state taxing authorities. During the year ended December 31, 2011, the IRS conducted an examination of the Company's 2009 federal tax return. During the three months ended March 31, 2012 the Company reached a settlement with the IRS in which the Company paid to the IRS approximately $122,000.

Real Estate Investments

All costs related to the improvement or replacement of real estate properties are capitalized. Additions, renovations and improvements that enhance and/or extend the useful life of a property are also capitalized. Expenditures for ordinary maintenance, repairs and improvements that do not materially prolong the normal useful life of an asset are charged to operations as incurred. The Company expenses transaction costs associated with business combinations in the period incurred. During the three months ended March 31, 2013 and 2012, capitalized costs related to the improvements or replacement of real estate properties were approximately $3.1 million and $1.8 million, respectively.

Upon the acquisition of real estate properties, the fair value of the real estate purchased is allocated to the acquired tangible assets (consisting of land, buildings and improvements), and acquired intangible assets and liabilities (consisting of above-market and below-market leases and acquired in-place leases). Acquired lease intangible assets include above-market leases and acquired in-place leases in the accompanying consolidated balance sheet. The fair value of the tangible assets of an acquired property is determined by valuing the property as if it were vacant, which value is then allocated to land, buildings and improvements based on management's determination of the relative fair values of these assets. In valuing an acquired property's intangibles, factors considered by management include an estimate of carrying costs during the expected lease-up periods, and estimates of lost rental revenue during the expected lease-up periods based on its evaluation of current market demand. Management also estimates costs to execute similar leases, including leasing commissions, tenant improvements, legal and other related costs. Leasing commissions, legal and other related costs ("lease origination costs") are classified as deferred charges in the accompanying consolidated balance sheet.

The value of in-place leases is measured by the excess of (i) the purchase price paid for a property after adjusting existing in-place leases to market rental rates, over (ii) the estimated fair value of the property as if vacant. Above-market and below-market lease values are recorded based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be received and management's estimate of market lease rates, measured over the terms of the respective leases that management deemed appropriate at the time of acquisition. Such valuations include a consideration of the non-cancellable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below-market rental renewal options are determined based on the Company's experience and the relevant facts and circumstances that existed at the time of the acquisitions. The value of the above-market and below-market leases associated with the original lease term is amortized to rental income, over the terms of the respective leases. The value of below-market rental lease renewal options is deferred until such time as the renewal option is exercised and subsequently amortized over the corresponding renewal period. The value of in-place leases are amortized to expense, and the above-market and below-market lease values are amortized to rental income, over the remaining non-cancellable terms of the respective leases. If a lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be recognized in operations at that time. The Company may record a bargain purchase gain if it determines that the purchase price for the acquired assets was less than the fair value. The Company will record a liability in situations where any part of the cash consideration is deferred. The amounts payable in the future are discounted to their present value. The liability is subsequently re-measured to fair value with changes in fair value recognized in the consolidated statements of operations. If, up to one year from the acquisition date, information regarding fair value of assets acquired and liabilities assumed is received and estimates are refined, appropriate property adjustments are made to the purchase price allocation on a retrospective basis.

In conjunction with the Company's pursuit and acquisition of real estate investments, the Company expensed acquisition transaction costs during the three months ended March 31, 2013 and 2012 of approximately $409,000 and $123,000, respectively.

Regarding the Company's 2013 property acquisitions (see Note 2), the fair value of in-place leases and other intangibles have been allocated to intangible asset and liability accounts.

Asset Impairment

The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to aggregate future net cash flows (undiscounted and without interest) expected to be generated by the asset. If such assets are considered impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceed the fair value. Management does not believe that the value of any of the Company's real estate investments was impaired at March 31, 2013.

The Company reviews its investment in its unconsolidated joint venture for impairment periodically and the Company would record an impairment charge when events or circumstances change indicating that a decline in the fair values below the carrying values has occurred and such decline is other-than temporary. The ultimate realization of the Company's investment in its unconsolidated joint venture is dependent on a number of factors, including the performance of each investment and market conditions. Management does not believe that the carrying value of the Company's unconsolidated joint venture was impaired at March 31, 2013.

Cash and Cash Equivalents

The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents are maintained at financial institutions and, at times, balances may exceed the federally insured limit by the Federal Deposit Insurance Corporation. The Company has not experienced any losses related to these balances.

Restricted Cash

The terms of several of the Company's mortgage loans payable require the Company to deposit certain replacement and other reserves with its lenders. Such "restricted cash" is generally available only for property-level requirements for which the reserves have been established and is not available to fund other property-level or Company-level obligations.

Revenue Recognition

Management has determined that all of the Company's leases with its various tenants are operating leases. Rental income is generally recognized based on the terms of leases entered into with tenants. In those instances in which the Company funds tenant improvements and the improvements are deemed to be owned by the Company, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When the Company determines that the tenant allowances are lease incentives, the Company commences revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Minimum rental income from leases with scheduled rent increases is recognized on a straight-line basis over the lease term. Percentage rent is recognized when a specific tenant's sales breakpoint is achieved. Property operating expense recoveries from tenants of common area maintenance, real estate taxes and other recoverable costs are recognized in the period the related expenses are incurred. Lease incentives are amortized as a reduction of rental revenue over the respective tenant lease terms.

Termination fees (included in rental revenue) are fees that the Company has agreed to accept in consideration for permitting certain tenants to terminate their lease prior to the contractual expiration date. The Company recognizes termination fees in accordance with Securities and Exchange Commission Staff Accounting Bulletin 104, "Revenue Recognition," when the following conditions are met: (a) the termination agreement is executed; (b) the termination fee is determinable; (c) all landlord services pursuant to the terminated lease have been rendered; and (d) collectivity of the termination fee is assured. Interest income is recognized as it is earned. Gains or losses on disposition of properties are recorded when the criteria for recognizing such gains or losses under generally accepted accounting principles have been met.

The Company must make estimates as to the collectability of its accounts receivable related to base rent, straight-line rent, expense reimbursements and other revenues. Management analyzes accounts receivable and the allowance for bad debts by considering tenant creditworthiness, current economic trends, and changes in tenants' payment patterns when evaluating the adequacy of the allowance for doubtful accounts receivable. The Company also provides an allowance for future credit losses of the deferred straight-line rents receivable. The provision for doubtful accounts at March 31, 2013 and December 31, 2012 was approximately $3.3 million and $3.2 million, respectively.

Depreciation and Amortization

The Company uses the straight-line method for depreciation and amortization. Buildings are depreciated over the estimated useful lives which the Company estimates to be 39-40 years. Property improvements are depreciated over the estimated useful lives that range from 10 to 20 years. Furniture and fixtures are depreciated over the estimated useful lives that range from 3 to 10 years. Tenant improvements are amortized over the shorter of the life of the related leases or their useful life.

Deferred Charges

Deferred charges consist principally of leasing commissions and acquired lease origination costs (which are amortized ratably over the life of the tenant leases) and financing fees (which are amortized over the term of the related debt obligation). Deferred charges in the accompanying consolidated balance sheets are shown at cost, net of accumulated amortization of approximately $10.5 million and $9.1 million, as of March 31, 2013 and December 31, 2012, respectively.

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and tenant receivables. The Company places its cash and cash equivalents in excess of insured amounts with high quality financial institutions. The Company performs ongoing credit evaluations of its tenants and requires tenants to provide security deposits.

Earnings Per Share

Basic earnings per share ("EPS") excludes the impact of dilutive shares and is computed by dividing net income by the weighted average number of shares of common stock outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue shares of common stock were exercised or converted into shares of common stock and then shared in the earnings of the Company.

During the three months ended March 31, 2012 the effect of the 41,400,000 warrants to purchase the Company's common stock (the "Public Warrants") issued in connection with the Company's initial public offering (the "IPO") and the 8,000,000 warrants (the "Private Placement Warrants") purchased by NRDC Capital Management, LLC (the "Sponsor") simultaneously with the consummation of the IPO, were not included in the calculation of diluted EPS as the weighted average share price was less than the exercise price during this period. During the three months ended March 31, 2013, the effect of the outstanding Public Warrants and Private Placement Warrants, for the period of time these were outstanding during the quarter, were included in the calculation of diluted EPS as the weighted average share price was greater than the exercise price during this period. See Note 5 to the accompanying consolidated financial statements.

For the three months ended March 31, 2013 and 2012, basic EPS was determined by dividing net income allocable to common stockholders for the applicable period by the weighted average number of shares of common stock outstanding during such period. Net income during the applicable period is also allocated to the time-based unvested restricted stock as these grants are entitled to receive dividends and are therefore considered a participating security. Time-based unvested restricted stock is not allocated net losses and/or any excess of dividends declared over net income; such amounts are allocated entirely to the common stockholders other than the holders of time-based unvested restricted stock. The performance based restricted stock awards outstanding under the 2009 Plan described in Note 6 are excluded from the basic EPS calculation, as these units are not participating securities until they vest.

The following table sets forth the reconciliation between basic and diluted EPS:

	For the Three Months Ended
	March 31, 2013			March 31, 2012
Numerator:
Net Income attributable to Retail Opportunity Investments Corp.	$	2,289,886		$	1,127,404
Less, earnings allocated to unvested shares		(69,750	)		(29,754	)
Net income available for common shareholders, basic and diluted	$	2,220,136		$	1,097,650
Denominator:
Denominator for basic EPS – weighted average common shares		57,373,417			49,603,759
Warrants		3,314,539			—
Restricted stock awards - Performance-based		76,593			45,413
Stock Options		50,966			41,078
Denominator for dilutive EPS – weighted average common shares		60,815,515			49,690,250

Stock-Based Compensation

The Company has a stock-based employee compensation plan, which is more fully described in Note 6.

The Company accounts for its stock-based compensation plans based on the FASB guidance which requires that compensation expense be recognized based on the fair value of the stock awards less estimated forfeitures. Restricted stock grants vest based upon the completion of a service period ("time-based grants") and/or the Company meeting certain established financial performance criteria ("performance-based grants"). Time-based grants are valued according to the market price for the Company's common stock at the date of grant. For performance-based grants, the Company generally engages an independent appraisal company to determine the value of the shares at the date of grant, taking into account the underlying contingency risks associated with the performance criteria. It is the Company's policy to grant options with an exercise price equal to the quoted closing market price of stock on the grant date or the date immediately prior to the grant date. Awards of stock options and time-based grants stock are expensed as compensation ratably over the vesting period. Awards of performance-based grants are expensed as compensation under an accelerated method and are recognized in income (loss) regardless of the Company results against the performance criteria.

Derivatives

The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge.

Segment Reporting

The Company operates in one industry segment, ownership of commercial real estate properties. The Company does not distinguish in property operations for purposes of measuring performance. The Company reassesses its conclusion that it has one reportable operating segment at least annually.

Note 2 - Real Estate Investments

3 Months Ended

Mar. 31, 2013

Real Estate Investment Financial Statements, Disclosure [Table Text Block]

2.	Real Estate Investments

The following real estate investment transactions have occurred during the three months ended March 31, 2013.

Property Acquisitions

On February 1, 2013, the Company acquired the property known as Diamond Bar Town Center located in Diamond Bar, California, within the Los Angeles metropolitan area, for a purchase price of approximately $27.4 million. Diamond Bar Town Center is approximately 100,000 square feet and is anchored by a national grocer. The property was acquired with borrowings under the Company’s credit facility.

On February 6, 2013, the Company acquired the property known as Bernardo Heights Plaza in Rancho Bernardo, California, within the San Diego metropolitan area, for a purchase price of approximately $12.4 million. Bernardo Heights Plaza is approximately 38,000 square feet and is anchored by Sprouts Farmers Market and Tuesday Morning. The property was acquired with cash of approximately $3.6 million and the assumption of an existing mortgage with a principal amount of approximately $8.9 million, and a fair value of approximately $9.7 million.

The Company assessed the fair value of the lease intangibles based on estimated cash flow projections that utilize appropriate discount rates and available market information. Such inputs are Level 3 in the fair value hierarchy. See Note 7, “Fair Value of Financial Instruments,” for a discussion of the framework for measuring fair value.

The financial information set forth below summarizes the Company's purchase price allocation for the properties acquired during the three months ended March 31, 2013.

	March 31, 2013
ASSETS
Land	$	12,732,158
Building and improvements		25,734,322
Acquired lease intangible asset		2,100,578
Deferred charges		1,116,179
Assets acquired	$	41,683,237
LIABILITIES
Acquired lease intangible liability		1,056,997
Mortgage notes assumed		9,670,900
Liabilities assumed	$	10,727,897

Pro Forma Financial Information

The pro forma financial information set forth below is based upon the Company's historical consolidated statements of operations for the three months ended March 31, 2013 and 2012, adjusted to give effect of these transactions as if they had been completed at the beginning of 2012.

The pro forma financial information is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transaction occurred at the beginning of each year, nor does it purport to represent the results of future operations.

	For the Three Months Ended
	March 31, 2013		March 31, 2012
Statement of operations:
Revenues	$	24,716,783	$	22,200,435
Property operating and other expenses		13,389,476		10,929,628
Depreciation and amortization		9,038,594		8,493,471
Net income attributable to Retail Opportunity Investments Corp.	$	2,288,713	$	2,777,336

The following table summarizes the operating results included in the Company's historical consolidated statement of operations for the three months ended March 31, 2013, for the properties acquired during the three months ended March 31, 2013.

	For the Three Months Ended
	March 31, 2013
Statement of operations:
Revenues	$	554,662
Property operating and other expenses		261,049
Depreciation and amortization		273,267
Net income attributable to Retail Opportunity Investments Corp.	$	20,346

Mortgage Notes Receivable

The Company holds a $10.0 million second mortgage loan to the joint venture that owns the Crossroads Shopping Center. The Company owns a 49% equity interest in the joint venture. The interest rate on the loan is 8% per annum and the loan matures on September 1, 2015, which is coterminous with the existing first mortgage. Additionally, during the three months ended March 31, 2013, the Company funded a $294,000 partner loan to the joint venture.

Unconsolidated Joint Ventures

At March 31, 2013 and December 31, 2012, investment in and advances to unconsolidated joint venture consisted of a 49% ownership of Crossroads Shopping Center of $15.5 million and $15.3 million, respectively.

The Company has no material contractual capital contribution commitments to its joint venture.

The Company has evaluated its investment in the joint venture and has concluded that the joint venture is not a VIE. The Company accounts for its investment in its unconsolidated joint ventures under the equity method of accounting since it exercises significant influence over, but does not control the unconsolidated joint venture. The other members in the unconsolidated joint venture have substantial participation rights in the financial decisions and operations of the unconsolidated joint venture.

Note 3 - Mortgage Notes Payable and Credit Facilities

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Text Block]

3.	Mortgage Notes Payable and Credit Facilities

Mortgage Notes Payable

The mortgage notes payable collateralized by respective properties and assignment of leases at March 31, 2013 and December 31, 2012, respectively, were as follows:

Property	Maturity Date	Interest Rate			March 31, 2013		December 31, 2012
Gateway Village I	February 2014		5.58	%		6,677,631		6,718,119
Gateway Village II	May 2014		5.73	%		6,832,537		6,872,265
Euclid Plaza	November 2014		5.23	%		8,276,366		8,329,824
Country Club Gate	January 2015		5.04	%		12,416,589		12,477,997
Renaissance Towne Centre	June 2015		5.13	%		16,691,106		16,760,383
Gateway Village III	July 2016		6.10	%		7,436,783		7,460,907
Bernardo Heights	July 2017		5.70	%		8,864,618		—
Santa Teresa Village	February 2018		6.20	%		11,177,215		11,223,888
					$	78,372,845	$	69,843,383
Mortgage Premium						3,380,300		2,846,459
Total mortgage notes payable					$	81,753,145	$	72,689,842

Credit Facilities

The Company has a revolving credit facility (the "credit facility") with several banks. The credit facility provides for borrowings of up to $200.0 million and contains an accordion feature, which allows the Company to increase the facility amount up to an aggregate of $300.0 million subject to commitments and other conditions. The initial maturity date of the credit facility is August 29, 2016, subject to a one-year extension option, which may be exercised by the Company upon satisfaction of certain conditions.

The Company has a term loan agreement (the “term loan”) with several banks. The term loan provides for a loan of $200.0 million and contains an accordion feature, which allows the Company to increase the facility amount up to an aggregate of $300.0 million subject to commitments and other conditions. The maturity date of the term loan is August 29, 2017.

Borrowings under the credit facility and term loan agreements (collectively, the “loan agreements”) bear interest on the outstanding principal amount at a rate equal to, prior to such time as the Company has obtained an investment grade rating from at least two rating agencies, an applicable rate based on the consolidated leverage ratio of the Company and its subsidiaries, plus, as applicable, (i) a LIBOR rate determined by reference to the cost of funds for dollar deposits for the relevant period (the "Eurodollar Rate"), or (ii) a base rate determined by reference to the highest of (a) the federal funds rate plus 0.50%, (b) the rate of interest announced by KeyBank National Association as its "prime rate," and (c) the Eurodollar Rate plus 1.00% (the "Base Rate"). From, and after the time the Company obtains an investment grade rating from at least two rating agencies, borrowings under the loan agreements will bear interest on the outstanding principal amount at a rate equal to an applicable rate based on the credit rating level of the Company, plus, as applicable, (i) the Eurodollar Rate, or (ii) the Base Rate. The Company is obligated to pay (i) prior to such time as the Company has obtained an investment grade rating from at least two rating agencies, an unused fee of (a) 0.35% of the undrawn balance if the total outstanding principal amount is less than 50% of the aggregate commitments or (b) 0.25% if the total outstanding principal amount is greater than or equal to 50% of the aggregate commitments, (ii) from and after such time as the Company has obtained an investment grade rating from at least two rating agencies, a facility fee at a facility fee rate based on the credit rating level of the Company, and (iii) a fronting fee at a rate of 0.125% per year with respect to each letter of credit issued under the agreements. The agreements contain certain representations, financial and other covenants typical for these types of facilities. The Company's ability to borrow under the loan agreements is subject to its compliance with the covenants and other restrictions on an ongoing basis. The Company was in compliance with such covenants at March 31, 2013.

As of March 31, 2013, $200.0 million and $18.0 million were outstanding under the term loan and credit facility, respectively. The average interest rate on both the term loan and the credit facility during the three months ended March 31, 2013 was 1.8%. The Company had $182.0 million available to borrow under the credit facility at March 31, 2013. The Company had no available borrowings under the term loan.

In connection with the credit facility and term loan the Company incurred approximately $2.3 million of deferred financing costs which are being amortized over the term of the credit facility and term loan.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Note 4 - Preferred Stock

3 Months Ended

Mar. 31, 2013

Preferred Stock [Text Block]

4.	Preferred Stock

The Company 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 March 31, 2013 and December 31, 2012, there were no shares of preferred stock outstanding.

Note 5 - Common Stock and Warrants

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note Disclosure [Text Block]

5.	Common Stock and Warrants

On June 23, 2011, the Company entered into an ATM Equity OfferingSM Sales Agreement ("sales agreement") with Merrill Lynch, Pierce, Fenner & Smith Incorporated to sell shares of the Company's common stock par value $0.0001 per share, having aggregate sales proceeds of $50.0 million from time to time, through an "at the market" equity offering program under which Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as sales (“agent”) and/or principal agent. During the three months ended March 31, 2013, the Company did not sell any shares under the sales agreement. As of March 31, 2013, the Company had sold since the inception of the plan a total of 3,183,245 shares under the sales agreement, which resulted in gross proceeds of approximately $39.3 million and commissions of approximately $687,600 paid to the agent.

Simultaneously with the consummation of the IPO, the Sponsor purchased 8,000,000 Private Placement Warrants at a purchase price of $1.00 per warrant. The Private Placement Warrants were identical to the Public Warrants except that the Private Placement Warrants were exercisable on a cashless basis as long as they were still held by the Sponsor or its members, members of its members’ immediate family or their controlled affiliates. The purchase price of the Private Placement Warrants approximated the fair value of such warrants at the purchase date.

During the three months ended March 31, 2013, the Sponsor exercised the outstanding 8,000,000 Private Placement Warrants on a cashless basis pursuant to which the Company issued 688,500 shares to the Sponsor.

The Company has the right to redeem all of the warrants it issued in the IPO, at a price of $0.01 per warrant upon 30 days' notice while the warrants are exercisable, only in the event that the last sale price of the common stock is at least a specified price. The terms of the warrants are as follows:

·	The exercise price of the warrants is $12.00.

·	The expiration date of the warrants is October 23, 2014.

·	The price at which the Company's common stock must trade before the Company is able to redeem the warrants it issued in the IPO is $18.75.

To provide that a warrantholder's ability to exercise warrants is limited to ensure that such holder's "Beneficial Ownership" or "Constructive Ownership," each as defined in the Company's charter, does not exceed the restrictions contained in the charter limiting the ownership of shares of the Company's common stock.

The Company has reserved 53,400,000 shares for the exercise of the Public Warrants and the Private Placement Warrants, and issuance of shares under the Company's 2009 Equity Incentive Plan (the "2009 Plan"). During the three months ended March 31, 2013, the third-party warrant holders exercised a total of 12,955,785 Public Warrants during the period, resulting in a total of $155.5 million proceeds.

Warrant Repurchase

In May 2010, the Company's board of directors authorized a warrant repurchase program to repurchase up to a maximum of $40.0 million of the Company's warrants. During the three months ended March 31, 2013, the Company repurchased 7,750,000 warrants under the program in privately negotiated transactions, for approximately $10.7 million.

As of March 31, 2013, 20,693,215 of the 41,400,000 original Public Warrants remain outstanding and no Private Placement Warrants are outstanding.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Number 43
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
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Reference 21: http://www.xbrl.org/2003/role/presentationRef
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Reference 23: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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+ Details

Note 6 - Stock Compensation

3 Months Ended

Mar. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6.	Stock Compensation

The Company 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.

In 2009, the Company adopted the 2009 Plan. The 2009 Plan provides for grants of restricted common stock and stock option awards up to an aggregate of 7.5% of the issued and outstanding shares of the Company's common stock at the time of the award, subject to a ceiling of 4,000,000 shares.

Restricted Stock

During the three months ended March 31, 2013, the Company awarded 200,500 shares of restricted common stock under the 2009 Plan, of which 86,250 shares are performance-based grants and the remainder of the shares are time based grants. The performance-based grants vest in three equal annual tranches, based on pre-defined market-specific performance criteria with vesting dates on January 1, 2014, 2015 and 2016.

A summary of the status of the Company's non-vested restricted stock awards as of March 31, 2013, and changes during the three months ended March 31, 2013 are presented below:

	Shares			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		391,264		$	10.48
Granted		200,500		$	12.00
Vested		(77,164	)	$	10.50
Non-vested at March 31, 2013		514,600		$	11.08

For the three months ended March 31, 2013 and 2012, the amounts charged to expenses for all stock-based compensation arrangements totaled approximately $596,000 and $555,000, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 7 - Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Text Block]

7.	Fair Value of Financial Instruments

The Company follows the FASB guidance that defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The guidance applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances.

The guidance emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, the guidance establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity's own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy).

Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, which are typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.

The following disclosures of estimated fair value were determined by management, using available market information and appropriate valuation methodologies as discussed in Note 1. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts realizable upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material effect on the estimated fair value amounts.

The carrying values of cash and cash equivalents, restricted cash, tenant and other receivables, deposits, prepaid expenses, other assets, accounts payable and accrued expenses are reasonable estimates of their fair values because of the short-term nature of these instruments. The carrying values of the credit facility and term loan are deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. Mortgage notes receivables were recorded at the actual purchase price. Mortgage notes payable were recorded at their fair value at the time they were assumed and are estimated to have a fair value of approximately $84.8 million with an interest rate range of 1.9% to 3.3% and the weighted average interest rate of 2.5% as of March 31, 2013. These fair value measurements fall within level 3 of the fair value hierarchy.

Derivative and Hedging Activities

The Company's objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

During the year ended December 31, 2010, the Company entered into a $25.0 million forward starting interest rate swap with Wells Fargo Bank, N.A. The forward starting swap is being used to hedge variable cash flows associated with the Company's variable-rate debt. The swap was effective on April 15, 2011, has a maturity date of April 15, 2021 and a cash settlement date of September 22, 2014. The effective portion of changes in the fair value of the derivative that is designated as a cash flow hedge is being recorded in AOCI and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Ineffectiveness, if any, related to the Company's changes in estimates about the debt issuance related to the forward starting swap would be recognized directly in earnings.

During the year ended December 31, 2010, the Company entered into a $50.0 million forward starting interest rate swap with PNC Bank, N.A. The forward starting swap is being used to hedge the variable cash flows associated with the Company's variable-rate debt. The swap was effective on July 1, 2011, has a maturity date of July 1, 2018 and a cash settlement date of December 1, 2013. The effective portion of changes in the fair value of the derivative that is designated as a cash flow hedge is being recorded in AOCI and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Ineffectiveness, if any, related to the Company's changes in estimates about the debt issuance related to the forward starting swap would be recognized directly in earnings.

During the year ended December 31, 2011, the Company entered into a $50.0 million forward starting interest rate swap with Bank of Montreal. The forward starting swap is being used to hedge the anticipated variable cash flows associated with the Company's variable-rate debt that is issued by March 1, 2015. The swap has a maturity date of April 1, 2019 and a cash settlement date of December 1, 2013. The effective portion of changes in the fair value of the derivative that is designated as a cash flow hedge is being recorded in AOCI and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Ineffectiveness, if any, related to the Company's changes in estimates about the debt issuance related to the forward starting swap would be recognized directly in earnings.

During the year ended December 31, 2011, the Company entered into a $25.0 million forward starting interest rate swap with Wells Fargo Bank, N.A. The forward starting swap is being used to hedge the anticipated variable cash flows associated with the Company's variable-rate debt that is planned to be issued between April 2, 2011 and April 2, 2019. The swap has a maturity date of April 2, 2019 and a cash settlement date of September 22, 2014. The effective portion of changes in the fair value of the derivative that is designated as a cash flow hedge is being recorded in AOCI and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Ineffectiveness, if any, related to the Company's changes in estimates about the debt issuance related to the forward starting swap would be recognized directly in earnings.

On May 31, 2012, the Company entered into a $25.0 million forward starting interest rate swap with Royal Bank of Canada. The forward starting swap is being used to hedge the anticipated variable cash flows associated with the Company's variable-rate debt that is planned to be issued between April 1, 2013 and April 3, 2023. The swap has a maturity date of April 3, 2023 and a cash settlement date of 10/31/2014. The effective portion of changes in the fair value of the derivative that is designated as a cash flow hedge is being recorded in AOCI and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. Ineffectiveness, if any, related to the Company's changes in estimates about the debt issuance related to the forward starting swap would be recognized directly in earnings.

The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves, and implied volatilities. The fair value of the interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.

The Company incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty's non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contract for the effect of non-performance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees.

Although the Company has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of March 31, 2013, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative position and has determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Company has determined that its derivative valuation in its entirety is classified in Level 2 of the fair value hierarchy.

The table below presents the Company's liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall.

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
March 31, 2013:
Liabilities
Derivative financial instruments	$	—	$	(16,676,796	)	$	—	$	(16,676,796	)

December 31, 2012:
Liabilities
Derivative financial instruments	$	—	$	(18,012,516	)	$	—	$	(18,012,516	)

Amounts reported in AOCI related to derivatives will be reclassified to interest expense as interest expense is recognized on the hedged debt. During the next twelve months, the Company estimates that $4.6 million will be reclassified as an increase to interest expense.

As of March 31, 2013, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:

Interest Rate Derivative		Number of instruments				Notional
Interest rate swap			5			$	175,000,000

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the balance sheet as of March 31, 2013 and December 31, 2012, respectively:

Derivatives designed as hedging instruments		Balance sheet location		March 31, 2013 Fair Value (liability)				December 31, 2012 Fair Value (liability)
Interest rate products		Other liabilities		$	(16,676,796	)		$	(18,012,516	)

Derivatives in Cash Flow Hedging Relationships

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2013 and 2012, respectively. Amounts reclassified from other comprehensive income (“OCI”) and ineffectiveness are recognized as interest expense and amounts related to ineffectiveness.

	Three Months Ended
	March 31, 2013			March 31, 2012
Amount of gain recognized in OCI on derivative	$	(322,254	)	$	(394,464	)
Amount of loss reclassified from AOCI into interest	$	(1,197,684	)	$	(572,076	)
Amount of loss recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)	$	(37,360	)	$	(25,651	)

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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-Number 107
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Note 8 - Commitments and Contingencies

3 Months Ended

Mar. 31, 2013

Commitments and Contingencies Disclosure [Text Block]

8.	Commitments and Contingencies

In the normal course of business, from time to time, the Company is involved in legal actions relating to the ownership and operations of its properties. In management's opinion, the liabilities, if any, that ultimately may result from such legal actions are not expected to have a material adverse effect on the consolidated financial position, results of operations or liquidity of the Company.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
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-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 9 - Related Party Transactions

3 Months Ended

Mar. 31, 2013

9.	Related Party Transactions

In August 2011, the Company entered into two lease agreements effective July 1, 2011, with an officer of the Company. Pursuant to the lease agreements, the Company is provided the use of storage space. For the three months ended March 31, 2013 and 2012, the Company incurred approximately $5,000 and $2,400, respectively, of expenses relating to the agreements which were included in general and administrative expenses in the accompanying consolidated statements of operations.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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+ Details

Note 10 - Subsequent Events

3 Months Ended

Mar. 31, 2013

Subsequent Events [Text Block]

10.	Subsequent Events

In determining subsequent events, the Company reviewed all activity from April 1, 2013 to the date the financial statements are issued and discloses the following items:

On April 15, 2013, the Company acquired the property known as Canyon Crossing Shopping Center located in Puyallup, Washington, within the Seattle metropolitan area, for a purchase price of approximately $35.0 million. Canyon Crossing Shopping Center is approximately 121,000 square feet and is anchored by Safeway Supermarket. The property was acquired using borrowings under the Company’s credit facility.

On April 22, 2013, the Company acquired the property known as Diamond Hills Plaza located in Diamond Bar, California, within the Los Angeles metropolitan area, for a purchase price of approximately $48.0 million. Diamond Hills Plaza is approximately 140,000 square feet and is anchored by an H Mart Supermarket and a Rite Aid. The property was acquired using borrowings under the Company’s credit facility.

The purchase price allocations have not been finalized and are expected to be completed during the second quarter of 2013.

On May 1, 2013, the Company’s board of directors declared a cash dividend on its common stock of $0.15 per share, payable on June 28, 2013 to holders of record on June 14, 2013.

Subsequent to the quarter end, the Company received notice of warrant exercises for 90,000 warrants, totaling approximately $1.1 million in proceeds.

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Earnings Per Share Reconciliation [Table Text Block]

	For the Three Months Ended
	March 31, 2013			March 31, 2012
Numerator:
Net Income attributable to Retail Opportunity Investments Corp.	$	2,289,886		$	1,127,404
Less, earnings allocated to unvested shares		(69,750	)		(29,754	)
Net income available for common shareholders, basic and diluted	$	2,220,136		$	1,097,650
Denominator:
Denominator for basic EPS – weighted average common shares		57,373,417			49,603,759
Warrants		3,314,539			—
Restricted stock awards - Performance-based		76,593			45,413
Stock Options		50,966			41,078
Denominator for dilutive EPS – weighted average common shares		60,815,515			49,690,250

Note 2 - Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Purchase Price Allocation [Table Text Block]

	March 31, 2013
ASSETS
Land	$	12,732,158
Building and improvements		25,734,322
Acquired lease intangible asset		2,100,578
Deferred charges		1,116,179
Assets acquired	$	41,683,237
LIABILITIES
Acquired lease intangible liability		1,056,997
Mortgage notes assumed		9,670,900
Liabilities assumed	$	10,727,897

Business Acquisition, Pro Forma Information [Table Text Block]

	For the Three Months Ended
	March 31, 2013		March 31, 2012
Statement of operations:
Revenues	$	24,716,783	$	22,200,435
Property operating and other expenses		13,389,476		10,929,628
Depreciation and amortization		9,038,594		8,493,471
Net income attributable to Retail Opportunity Investments Corp.	$	2,288,713	$	2,777,336

Schedule of Condensed Income Statement [Table Text Block]

	For the Three Months Ended
	March 31, 2013
Statement of operations:
Revenues	$	554,662
Property operating and other expenses		261,049
Depreciation and amortization		273,267
Net income attributable to Retail Opportunity Investments Corp.	$	20,346

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

Note 3 - Mortgage Notes Payable and Credit Facilities (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Debt [Table Text Block]

Property	Maturity Date	Interest Rate			March 31, 2013		December 31, 2012
Gateway Village I	February 2014		5.58	%		6,677,631		6,718,119
Gateway Village II	May 2014		5.73	%		6,832,537		6,872,265
Euclid Plaza	November 2014		5.23	%		8,276,366		8,329,824
Country Club Gate	January 2015		5.04	%		12,416,589		12,477,997
Renaissance Towne Centre	June 2015		5.13	%		16,691,106		16,760,383
Gateway Village III	July 2016		6.10	%		7,436,783		7,460,907
Bernardo Heights	July 2017		5.70	%		8,864,618		—
Santa Teresa Village	February 2018		6.20	%		11,177,215		11,223,888
					$	78,372,845	$	69,843,383
Mortgage Premium						3,380,300		2,846,459
Total mortgage notes payable					$	81,753,145	$	72,689,842

Note 6 - Stock Compensation (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

	Shares			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		391,264		$	10.48
Granted		200,500		$	12.00
Vested		(77,164	)	$	10.50
Non-vested at March 31, 2013		514,600		$	11.08

Note 7 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
March 31, 2013:
Liabilities
Derivative financial instruments	$	—	$	(16,676,796	)	$	—	$	(16,676,796	)

December 31, 2012:
Liabilities
Derivative financial instruments	$	—	$	(18,012,516	)	$	—	$	(18,012,516	)

Schedule of Interest Rate Derivatives [Table Text Block]

Interest Rate Derivative		Number of instruments				Notional
Interest rate swap			5			$	175,000,000

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives designed as hedging instruments		Balance sheet location		March 31, 2013 Fair Value (liability)				December 31, 2012 Fair Value (liability)
Interest rate products		Other liabilities		$	(16,676,796	)		$	(18,012,516	)

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

	Three Months Ended
	March 31, 2013			March 31, 2012
Amount of gain recognized in OCI on derivative	$	(322,254	)	$	(394,464	)
Amount of loss reclassified from AOCI into interest	$	(1,197,684	)	$	(572,076	)
Amount of loss recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)	$	(37,360	)	$	(25,651	)

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References + Details

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies (Detail)	3 Months Ended
	Mar. 31, 2013 USD ($)	Mar. 31, 2012 USD ($) shares	Dec. 31, 2012 USD ($)
Building [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	39 years
Building [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	40 years
Building Improvements [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	10 years
Building Improvements [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	20 years
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment, Useful Life	10 years
Public Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) \| shares		41,400,000
Private Placement Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in Shares) \| shares		8,000,000
Taxable Income, Percentage	90.00%
Tax Adjustments, Settlements, and Unusual Provisions	$ 122,000
Real Estate, Improvements	3,100,000	$ 1,800,000
Acquisition Costs, Period Cost	408,836	$ 122,843
Allowance for Doubtful Accounts Receivable	3,300,000		$ 3,200,000
Deferred Costs, Leasing, Accumulated Amortization	$ 10,500,000		$ 9,100,000
Number of Operating Segments	1
Number of Reportable Segments	1

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies (Detail) - Reconciliation Between Basic and Diluted EPS - USD ($)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Performance Shares [Member]
Denominator:
Share Based Payment Awards	76,593	45,413
Stock Options [Member]
Denominator:
Share Based Payment Awards	50,966	41,078
Warrant [Member]
Denominator:
Warrants	3,314,539
Net Income attributable to Retail Opportunity Investments Corp. (in Dollars)	$ 2,289,886	$ 1,127,404
Less, earnings allocated to unvested shares (in Dollars)	(69,750)	(29,754)
Net income available for common shareholders, basic and diluted (in Dollars)	$ 2,220,136	$ 1,097,650
Denominator for basic EPS – weighted average common shares	57,373,417	49,603,759
Denominator for dilutive EPS – weighted average common shares	60,815,515	49,690,250

Note 2 - Real Estate Investments (Detail)	1 Months Ended	3 Months Ended
Note 2 - Real Estate Investments (Detail)	Mar. 31, 2013 USD ($)	Mar. 31, 2013 USD ($)	Feb. 06, 2013 USD ($) ft²	Feb. 01, 2013 USD ($) ft²	Dec. 31, 2012 USD ($)
Joint Venture Which Owns the Crossroads Shopping Center [Member]
Equity Method Investment, Ownership Percentage	49.00%	49.00%
Second Mortgage [Member] \| Joint Venture Which Owns the Crossroads Shopping Center [Member]
Mortgage Loans on Real Estate	$ 10,000,000	$ 10,000,000
Mortgage Loans on Real Estate, Interest Rate	8.00%
Joint Venture Which Owns the Crossroads Shopping Center [Member]
Notes Receivable, Related Parties	$ 294,000	$ 294,000
Crossroads Shopping Center [Member]
Equity Method Investment, Ownership Percentage	49.00%	49.00%
Equity Method Investments	$ 15,500,000	$ 15,500,000			$ 15,300,000
Diamond Bar Town Center [Member]
Business Acquisition, Cost of Acquired Entity, Purchase Price				$ 27,400,000
Area of Real Estate Property (in Square Feet) \| ft²				100,000
Bernardo Heights Plaza [Member]
Business Acquisition, Cost of Acquired Entity, Purchase Price			$ 12,400,000
Area of Real Estate Property (in Square Feet) \| ft²			38,000
Business Acquisition, Cost of Acquired Entity, Cash Paid			$ 3,600,000
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred			8,900,000
undefined			$ 9,700,000
undefined	$ 9,670,900	$ 9,670,900
Mortgage Loans on Real Estate, Interest Rate		2.50%

Note 2 - Real Estate Investments (Detail) - Purchase Price Allocation of Properties Acquired: - USD ($)	Mar. 31, 2013	Mar. 31, 2012
ASSETS
Land	$ 12,732,158
Building and improvements	25,734,322
Acquired lease intangible asset	2,100,578
Deferred charges	1,116,179
Assets acquired	41,683,237
LIABILITIES
Acquired lease intangible liability	1,056,997	$ 1,235,988
Mortgage notes assumed	9,670,900
Liabilities assumed	$ 10,727,897

Note 2 - Real Estate Investments (Detail) - Pro Forma Financial Information - Results of Operations Had the Acquisitions Occured at the Beginning of the Year - USD ($)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Statement of operations:
Revenues	$ 24,716,783	$ 22,200,435
Property operating and other expenses	13,389,476	10,929,628
Depreciation and amortization	9,038,594	8,493,471
Net income attributable to Retail Opportunity Investments Corp.	$ 2,288,713	$ 2,777,336

Note 2 - Real Estate Investments (Detail) - Operating Results Included in the Company's Historical Consolidated Statement of Operations For Properties Acquired During the Reported Periods - USD ($)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Attributable to Acquired Properties During the Reporting Periods [Member]
Statement of operations:
Revenues	$ 554,662
Property operating and other expenses	261,049
Depreciation and amortization	273,267
Net income attributable to Retail Opportunity Investments Corp.	20,346
Revenues	24,384,449	$ 16,647,684
Property operating and other expenses	4,158,881	2,969,348
Depreciation and amortization	8,881,130	6,649,818
Net income attributable to Retail Opportunity Investments Corp.	$ 2,289,886	$ 1,127,404

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Note 3 - Mortgage Notes Payable and Credit Facilities (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)
Accordion Feature [Member] \| Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000,000
Accordion Feature [Member] \| Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000,000
Spread On Federal Funds Rate [Member] \| Loan Agreements [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Spread On Eurodollar Rate [Member] \| Loan Agreements [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000,000
Line of Credit Facility, Amount Outstanding	18,000,000
Term Loan [Member]
Line of Credit Facility, Maximum Borrowing Capacity	200,000,000
Line of Credit Facility, Amount Outstanding	$ 200,000,000
If Oustanding Principal Is Less Than Fifty Percent Of The Aggregate Commitments [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.35%
If Outstanding Principal Is Greater Than Or Equal To Fifty Percent Of Aggregate Commitments [Member]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Revised Credit Facility and Term Loan [Member]
Payments of Financing Costs		$ 2,300,000
Line of Credit Facility, Extension Option, Term	1 year
Number of Rating Agencies	2
Line of Credit, Fronting Fee	0.125%
Line of Credit Facility, Amount Outstanding	$ 18,000,000	$ 119,000,000
Line of Credit Facility, Interest Rate at Period End	1.80%
Line of Credit Facility, Remaining Borrowing Capacity	$ 182,000,000

Note 3 - Mortgage Notes Payable and Credit Facilities (Detail) - Mortgage Notes Payable - USD ($)	3 Months Ended
	Mar. 31, 2013	Dec. 31, 2012
Gateway Village I [Member]
Maturity Date	Feb. 28, 2014
Interest Rate	5.58%
Balance	$ 6,677,631	$ 6,718,119
Gateway Village II [Member]
Maturity Date	May 31, 2014
Interest Rate	5.73%
Balance	$ 6,832,537	6,872,265
Euclid Plaza [Member]
Maturity Date	Nov. 30, 2014
Interest Rate	5.23%
Balance	$ 8,276,366	8,329,824
Country Club Gate [Member]
Maturity Date	Jan. 31, 2015
Interest Rate	5.04%
Balance	$ 12,416,589	12,477,997
Renaissance Towne Center [Member]
Maturity Date	Jun. 30, 2015
Interest Rate	5.13%
Balance	$ 16,691,106	16,760,383
Gateway Village III [Member]
Maturity Date	Jul. 31, 2016
Interest Rate	6.10%
Balance	$ 7,436,783	7,460,907
Bernardo Heights Plaza [Member]
Maturity Date	Jul. 31, 2017
Interest Rate	5.70%
Balance	$ 8,864,618
Santa Teresa Village [Member]
Maturity Date	Feb. 28, 2018
Interest Rate	6.20%
Balance	$ 11,177,215	11,223,888
Balance	78,372,845	69,843,383
Mortgage Premium	3,380,300	2,846,459
Total mortgage notes payable	$ 81,753,145	$ 72,689,842

Note 4 - Preferred Stock (Detail) - shares	Mar. 31, 2013	Dec. 31, 2012
Preferred Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Outstanding	0	0

Note 5 - Common Stock and Warrants (Detail)	1 Months Ended		3 Months Ended		21 Months Ended
Note 5 - Common Stock and Warrants (Detail)	Jun. 30, 2011 USD ($)	May 31, 2010 USD ($) shares	Mar. 31, 2013 USD ($) $ / shares shares	Mar. 31, 2012 USD ($)	Mar. 31, 2013 USD ($) $ / shares shares	Dec. 31, 2012 $ / shares	Jun. 23, 2011 $ / shares $ / item shares
Minimum Price Company's Common Stock Must Trade Before Warrants Issued in The IPO Can Be Redeemed [Member]
Share Price (in Dollars per share) \| $ / shares							$ 18.75
Original Number Outstanding [Member] \| Public Warrants [Member]
Class of Warrant or Right, Outstanding		41,400,000
Commissions Paid to Agent [Member]
Payments of Stock Issuance Costs (in Dollars) \| $					$ 687,600
Private Placement Warrants [Member]
Warrants Purchased By Sponsor During IPO							8,000,000
Warrants, Sales Price Per Warrant (in Dollars per share) \| $ / shares							$ 1.00
Sponsor Warrants Exercised			8,000,000
Warrants, Repurchase Price Per Warrant (in Dollars per share) \| $ / shares							$ 0.01
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) \| $ / item							12.00
Class of Warrant or Right, Outstanding			0		0
Sponsor [Member]
Stock Issued During Period, Shares, New Issues			688,500
Public and Private Placement Warrants [Member]
Common Stock, Capital Shares Reserved for Future Issuance							53,400,000
Third-Party Warrant Holders [Member]
Stock Issued During Period, Shares, New Issues			12,955,785
Public Warrants [Member]
Proceeds from Warrant Exercises (in Dollars) \| $			$ 155,500,000
Class of Warrant or Right, Outstanding			20,693,215		20,693,215
Common Stock, Par or Stated Value Per Share (in Dollars per share) \| $ / shares			$ 0.0001		$ 0.0001	$ 0.0001	$ 0.0001
Proceeds from Issuance of Common Stock (in Dollars) \| $	$ 50,000,000			$ 2,556,422	$ 39,300,000
Stock Issued During Period, Shares, New Issues					3,183,245
Payments of Stock Issuance Costs (in Dollars) \| $			$ 25,305	$ 97,915
Proceeds from Warrant Exercises (in Dollars) \| $			$ 154,869,414
Warrant Repurchase Program, Authorized Amount (in Dollars) \| $		$ 40,000,000
Warrants Repurchased During Period, Shares			7,750,000
Payments for Repurchase of Warrants (in Dollars) \| $			$ 10,687,500

Note 6 - Stock Compensation (Detail) - USD ($)	3 Months Ended
Note 6 - Stock Compensation (Detail) - USD ($)	Mar. 31, 2013	Mar. 31, 2012
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	200,500
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	86,250
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum	7.50%
Share Based Compensation, Arrangement by Share Based Payment Award, Maximum Number of Shares	4,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	200,500
Allocated Share-based Compensation Expense (in Dollars)	$ 596,000	$ 555,000

- Definition

Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.

+ References + Details

Note 6 - Stock Compensation (Detail) - Status of Non-Vested Restricted Stock Awards	3 Months Ended
	Mar. 31, 2013 $ / shares shares
Non-vested, Shares \| shares	391,264
Non-vested, Weighted Average Grant Date Fair Value (in Dollars per share) \| $ / shares	$ 10.48
Granted \| shares	200,500
Granted (in Dollars per share) \| $ / shares	$ 12.00
Vested \| shares	(77,164)
Vested (in Dollars per share) \| $ / shares	$ 10.50
Non-vested, Shares \| shares	514,600
Non-vested, Weighted Average Grant Date Fair Value (in Dollars per share) \| $ / shares	$ 11.08

- Definition

The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.

+ References + Details

Note 7 - Fair Value of Financial Instruments (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2013	May 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Forward Starting Interest Rate Swap [Member] \| Wells Fargo Bank, N.A. [Member]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives			$ 25,000,000	$ 25,000,000
Forward Starting Interest Rate Swap [Member] \| PNC Bank, N.A. [Member]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives				$ 50,000,000
Forward Starting Interest Rate Swap [Member] \| Bank of Montreal [Member]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives			$ 50,000,000
Forward Starting Interest Rate Swap [Member] \| Royal Bank of Canada [Member]
Notional Amount of Interest Rate Cash Flow Hedge Derivatives		$ 25,000,000
Fair Value, Inputs, Level 3 [Member] \| Mortgages [Member]
Notes Payable, Fair Value Disclosure	$ 84,800,000
Mortgage Loans on Real Estate, Minimum Interest Rate in Range	1.90%
Mortgage Loans on Real Estate, Maximum Interest Rate in Range	3.30%
Mortgage Loans on Real Estate, Interest Rate	2.50%
Notional Amount of Interest Rate Cash Flow Hedge Derivatives	$ 175,000,000
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net		$ 4,600,000

Note 7 - Fair Value of Financial Instruments (Detail) - Liabilities Measured at Fair Value on a Recurring Basis - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Fair Value, Inputs, Level 2 [Member]
Liabilities
Derivative financial instruments	$ (16,676,796)	$ (18,012,516)
Derivative financial instruments	$ (16,676,796)	$ (18,012,516)

Note 7 - Fair Value of Financial Instruments (Detail) - Interest Rate Derivatives	Mar. 31, 2013 USD ($)
Interest rate swap	5
Interest rate swap (in Dollars)	$ 175,000,000

Note 7 - Fair Value of Financial Instruments (Detail) - Fair Value of Derivative Financial Instruments - USD ($)	Mar. 31, 2013	Dec. 31, 2012
Interest rate products	$ (16,676,796)	$ (18,012,516)

Note 7 - Fair Value of Financial Instruments (Detail) - Location of Gain or Loss on Interest Rate Derivatives Designated as Cash Flow Hedges - USD ($)	3 Months Ended
	Mar. 31, 2013	Mar. 31, 2012
Amount of gain recognized in OCI on derivative	$ (322,254)	$ (394,464)
Amount of loss reclassified from AOCI into interest	(1,197,684)	(572,076)
Amount of loss recognized in income on derivative (ineffective portion and amount excluded from effectiveness testing)	$ (37,360)	$ (25,651)

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References + Details

Note 9 - Related Party Transactions (Detail)	1 Months Ended	3 Months Ended
Note 9 - Related Party Transactions (Detail)	Aug. 31, 2011	Mar. 31, 2013 USD ($)	Mar. 31, 2012 USD ($)
Related Party Lease Agreements [Member]
Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party		$ 5,000	$ 2,400
Number of Lease Agreements Entered, Related Party	2

Note 10 - Subsequent Events (Detail)	1 Months Ended		3 Months Ended
Note 10 - Subsequent Events (Detail)	May 31, 2013 $ / shares	Apr. 30, 2013 USD ($) shares	Mar. 31, 2013 USD ($)	Apr. 22, 2013 USD ($) ft²	Apr. 15, 2013 USD ($) ft²
Subsequent Event [Member] \| Canyon Crossing Shopping Center [Member]
Business Acquisition, Cost of Acquired Entity, Purchase Price					$ 35,000,000
Area of Real Estate Property (in Square Feet) \| ft²					121,000
Subsequent Event [Member] \| Diamond Hills Plaza [Member]
Business Acquisition, Cost of Acquired Entity, Purchase Price				$ 48,000,000
Area of Real Estate Property (in Square Feet) \| ft²				140,000
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in Dollars per share) \| $ / shares	$ 0.15
Class Of Warrant Or Right Number Of Warrants Exercised (in Shares) \| shares		90,000
Proceeds from Warrant Exercises		$ 1,100,000
Proceeds from Warrant Exercises			$ 154,869,414