Property Acquisition

Property Acquisition Criteria

Retail Opportunity Investments Corporation ("ROIC") is a fully integrated real estate company focused on the acquisition, ownership, and redevelopment of high quality retail properties, including shopping centers and urban, mixed-use properties.

ROIC is headquartered in La Jolla (San Diego), California and maintains offices in West Linn, Oregon and Federal Way, Washington.

Preferred Locations

ROIC seeks existing shopping centers in primary markets of the West Coast of the United States (California, Washington and Oregon).

Property Type

ROIC seeks to acquire neighborhood and community centers anchored by a supermarket and/or drug store. We prefer to own the anchors, as well as the shops. We will consider urban and mixed-use properties as well as any status of leasing or property conditions, as long as the property is well located.

  • Neighborhood and Community Shopping centers
  • Portfolios and individual assets
  • Dominant grocer
  • Established metropolitan locations with strong incomes and population growth
  • Markets with barriers to entry
  • Average household income in the upper percentile for the market
  • Necessity-based retail properties
  • Stabilized properties or properties in need of repositioning, value enhancement or expansion

Investment Strategy

  • Stabilized market-dominant properties with supply-side restrictions and strong demographics
  • Value-Added opportunities offering potential near-term revenue enhancements that could result from re-positioning the tenant mix, leasing vacancies, building expansion space for existing or new tenants and building out pads
  • Proven track record with large portfolio purchases and one-off transactions
  • Experienced in-house due diligence team facilitates quick close

Size Criteria

  • 65,000 square feet or greater gross leasable area

Price and Terms

  • $10M or higher
  • All cash or can assume existing debt.
  • No financing contingencies
  • Closings within 30-days
  • Tax efficient and tax deferred structures available to seller
  • ROIC will invest all cash; cash above mortgage; or joint venture with existing owner

Submission Information

  • Detailed Rent Roll
  • Site Plan / Survey of Center
  • Tenant Sales History (3-years preferred)
  • Historic Operating Income & Expense Statements
  • Cash Flow Projections
  • Area Demographics
  • Aerial Photos
  • Mortgage Terms (if any)
  • Real property tax bills (2 years preferred)
  • All CC&R's affecting the property
  • Photographs of the Center
  • ARGUS

Contact

Stuart Tanz
stanz@roireit.net
858.255.4901