ShopOne Centers REIT Adds Joseph LoParrino to Executive Team

New York, NY – (“ShopOne” or the “Company”) a leading owner, operator and manager of high-quality grocery-anchored shopping centers, is pleased to announce the addition of Joseph V. LoParrino, CPA, as Chief Accounting Officer. Mr. LoParrino, who has a strong understanding of GAAP accounting, SEC compliance internal controls, tax compliance and cash management, will be an integral part of ShopOne’s leadership team. He will be based in the company’s New York office.

Mr. LoParrino has spent over 25 years in both the public and private accounting sectors, with a deep focus on real estate. He spent close to a decade at Urstadt Biddle Properties and also held notable positions with Retail Opportunity Investments Corp. and New Plan Excel Realty Trust – two companies in which he worked directly with ShopOne Chief Financial Officer, John Roche.

“Joe has gained invaluable insights and experience throughout his distinguished career, which will benefit us as we continue to grow the ShopOne platform,” said Mr. Carroll. “Joe is widely respected across the real estate industry and we look forward to his contributions.”

Mr. LoParrino joins ShopOne from AmTrust Realty Corp., where he spent the past two years serving as Vice President of Finance. In this role, he directed all aspects of accounting and finance operations. Prior to AmTrust, Mr. LoParrino spent time in lead accounting and financial roles with prominent REITs and real estate companies, including Seneca Mortgage Servicing LLC, serving as Controller and Treasurer, United Realty Advisors as Chief Accounting Officer and Treasurer and as Director of Accounting at Monday Properties.

“I am excited to once again partner with Mike and John to build a premier grocery-anchored shopping center company,” said Mr. LoParrino. “I have been impressed by ShopOne’s early success and am glad to be able to play a central role in further expanding the platform.”

Mr. LoParrino holds a Bachelor of Arts in accounting and economics from Queens College of the City University of New York and is a Certified Public Accountant by the State of New York.

About ShopOne Centers REIT Inc.

ShopOne Centers REIT is a leading owner, operator and manager of high-quality shopping centers. The Company’s more than 49 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.

Media Contacts:

Kelly Ferraro

Brendan Terry