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Retail Opportunity Investments Partnership, Lp (1577230) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Retail Opportunity Investments Partnersh

CIK: 1577230


Retail Opportunity Investments Corp.                 TRADED: NASDAQ: ROIC
11250 El Camino Real, Suite 200
San Diego, CA 92130        

FOR IMMEDIATE RELEASE
Tuesday, February 23, 2021

Retail Opportunity Investments Corp. Reports 2020 Results

San Diego, CA, February 23, 2021 – Retail Opportunity Investments Corp. (NASDAQ:ROIC) announced today financial and operating results for the year and three months ended December 31, 2020.

YEAR 2020 HIGHLIGHTS
$32.0mm of net income attributable to common stockholders ($0.27 per diluted share)
$132.5 million in Funds From Operations (FFO)(1) ($1.05 per diluted share)
90.6% of total billed base rent during pandemic has been paid to date (2Q‘20 - 4Q‘20)
96.8% portfolio lease rate at year-end (8th consecutive year above 96%)
1.2mm sq. ft. of leases executed (10th consecutive year of leasing ~ 2x original expirations)
12.5% increase in same-space cash rents on new leases (7.9% increase on renewals)
4.6% decrease in same-center cash net operating income (2020 vs. 2019)
96.5% of total debt effectively fixed-rate at year-end (no debt maturing in 2021)
Awarded investment grade rating and stable outlook from Fitch Ratings, Inc.

4TH QUARTER 2020 HIGHLIGHTS
$8.9mm of net income attributable to common stockholders ($0.08 per diluted share)
$34.3 million in FFO(1) ($0.27 per diluted share)
91.8% of total 4Q‘20 billed base rent has been paid to date
9.1% increase in same-space cash rents on new leases (3.3% increase on renewals)
8.8% decrease in same-center cash net operating income (4Q‘20 vs. 4Q‘19)
$55.5 million reduction in credit line balance (4Q‘20 vs. 3Q‘20)
3.4 times interest coverage (equal to 4Q‘19)

2021 YEAR-TO-DATE HIGHLIGHTS
95.4% of total tenants are currently open, based on annualized base rent
87.8% of January billed base rent has been paid to date
$25.8 million property disposition currently under contract
$0.11 per share cash dividend declared
________________________________________
(1) A reconciliation of GAAP net income to Funds From Operations (FFO) is provided at the end of this press release.

Stuart A. Tanz, President and Chief Executive Officer of Retail Opportunity Investments Corp. stated, “During 2020, in the face of extraordinary circumstances, our portfolio of grocery-anchored shopping centers proved to be resilient and we continued to post solid operating results. For the eighth consecutive year we maintained a year-end portfolio lease rate


The following information was filed by Retail Opportunity Investments Partnership, Lp on Tuesday, February 23, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover Page
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statement Of Partners' Capital
Consolidated Statement Of Partners' Capital (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parentheticals)
Consolidated Statements Of Operations And Comprehensive Income
Acquired Lease Intangibles
Acquired Lease Intangibles (Details) - Future Amortization Of Acquired Lease Intangible Assets
Acquired Lease Intangibles (Details) - Future Amortization Of Acquired Lease Intangible Liabilities
Acquired Lease Intangibles (Details) - Intangible Assets And Liabilities
Acquired Lease Intangibles (Narrative) (Details)
Acquired Lease Intangibles (Tables)
Capital Of The Operating Partnership
Capital Of The Operating Partnership (Narrative) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details) - Future Minimum Annual Lease Payments Under Operating Leases
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Tables)
Common Stock Of Roic
Common Stock Of Roic (Narrative) (Details)
Derivative And Hedging Activities
Derivative And Hedging Activities (Assets And Liabilities Measured At Fair Value) (Details)
Derivative And Hedging Activities (Details) - Location Of Gain Or Loss On Interest Rate Derivatives Designated As Cash Flow Hedges
Derivative And Hedging Activities (Tables)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (Schedule) (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes
Mortgage Notes Payable, Credit Facilities And Senior Notes (Narrative) (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes (Tables)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Amortization Of Financing Costs (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Carrying Value Of The Company???S Unsecured Debt (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Combined Aggregate Principal Maturities Of Mortgage Notes Payable (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes - Mortgage Notes Payable (Details)
Mortgage Notes Payable, Credit Facilities And Senior Notes Mortgage Notes Payable, Credit Facility And Senior Notes - Principal Repayments Of Unsecured Senior Notes (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Details) - Reconciliation Between Basic And Diluted Eps
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Details) - Unamortized Balances Of Deferred Charges
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Narrative) (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Supplemental Cash Flow Disclosure) (Details)
Organization, Basis Of Presentation And Summary Of Significant Accounting Policies (Tables)
Preferred Stock Of Roic
Preferred Stock Of Roic (Details)
Real Estate Investments
Real Estate Investments (Acquisitions) (Details)
Real Estate Investments (Details) - Purchase Price Allocation Of Properties Acquired
Real Estate Investments (Tables)
Related Party Transactions
Related Party Transactions (Details)
Schedule Iii - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (Details) - Real Estate And Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (Details) - Reconciliation Of Accumulated Depreciation
Schedule Iii - Real Estate And Accumulated Depreciation (Details) - Reconciliation Of Real Estate - Owned Subject To Operating Leases
Schedule Iii - Real Estate And Accumulated Depreciation - Summary (Details)
Schedule Iv - Mortgage Loans On Real Estate
Schedule Iv - Mortgage Loans On Real Estate (Details)
Stock Compensation And Other Benefit Plans For Roic
Stock Compensation And Other Benefit Plans For Roic (Details) - Status Of Non-Vested Restricted Stock Awards
Stock Compensation And Other Benefit Plans For Roic (Narrative) (Details)
Stock Compensation And Other Benefit Plans For Roic (Tables)
Subsequent Events
Subsequent Events (Details)
Tenant Leases
Tenant Leases (Details) - Minimum Future Rentals To Be Received Under Non-Cancellable Leases
Tenant Leases (Tables)
CIK: 1577230
Form Type: 10-K Annual Report
Accession Number: 0001407623-21-000031
Submitted to the SEC: Wed Feb 24 2021 1:52:58 PM EST
Accepted by the SEC: Wed Feb 24 2021
Period: Thursday, December 31, 2020
Industry: Real Estate Investment Trusts

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