Retail Properties of America Announces Sale of 13 Former Mervyns Locations

Retail Properties of America, Inc.

today announced the successful disposition of 13 former Mervyns locations for approximately $100.4 million. Proceeds from the sale were used to repay, in its entirety, the outstanding loan on the 23-asset Mervyns portfolio. “This sale is an important milestone in our strategic plan and demonstrates our ongoing commitment to focus on our three major initiatives for 2012, which include strengthening the portfolio, lowering our risk profile, and creating long-term value for our shareholders,” stated Steve Grimes, President and Chief Executive Officer for RPAI. The 13 assets represent approximately one million square feet and are currently 99% leased.