ShopOne Appoints Keith L. Horn and Barry Lefkowitz to Board of Directors

ShopOne Centers REIT Inc., ("ShopOne" or the "Company") a leading owner, operator and manager of high-quality grocery-anchored shopping centers, today announced the appointment of Keith L. Horn and Barry Lefkowitz as independent directors, effective immediately. Messrs. Horn and Lefkowitz's appointment expands ShopOne's Board to three directors. Both seasoned executives bring more than 50 years of direct relevant real estate, finance and investment expertise to ShopOne, complementing the Company's strategy to drive long-term cash flow growth.

"We are pleased to announce the appointment of two uniquely-qualified directors to ShopOne's Board," said Michael Carroll, Chief Executive Officer, ShopOne. "The combined leadership of Keith and Barry, which stems from decades of significant financial and real estate experience, will be instrumental in helping to advance our long-term growth strategy. As we continue to build out and enhance our platform, we look forward to reaping the benefits of their invaluable perspective."

Mr. Horn currently serves as the managing member and founder of Loring Capital Advisors, LLC, where he provides investment advisory and consulting services. Previously, he was Chief Operating Officer at Elliott Management Corporation where he was responsible for global management and oversight of operational, support, and control functions of the firm's investment business. At Merrill Lynch, where he spent 16 years, he was a Managing Director and held various roles including Head of Global Leveraged Finance. Mr. Horn earned a Bachelor of Arts in Economics and Political Science from Binghamton University and a Juris Doctorate from the Georgetown University Law Center in Washington, D.C.

Mr. Lefkotwitz is a senior financial executive with over 20 years of experience leading the financial functions of a publicly-traded NYSE real estate investment trust with assets in both retail and office. He currently serves as the founder and chief executive officer for Huntington Road Advisors, LLC where he focuses on real estate investments and advisory and Co-Founder of HMC Real Estate Partners LLC, an investment and management firm focused on value-add industrial and flex/office properties. Previously, he served as Interim Chief Financial Officer at Brixmor Property Group BRX. At Mack-Cali Realty Corporation CLI, where he spent 20 years, he was the Executive Vice President and Chief Financial Officer leading the financial functions of a $5B office REIT. He earned a Bachelor of Science in Accounting from Brooklyn College.

About ShopOne

ShopOne Centers REIT is a leading owner, operator and manager of high-quality shopping centers. The Company's more than 48 retail centers located in established trade areas and are supported by a diverse mix of highly productive non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit www.ShopOne.com.

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