Retail Properties of America, Inc. Recommends Rejection of Mini-Tender Offer by CMG Partners, LLC

  Retail Properties of America, Inc. Recommends Rejection of Mini-Tender Offer
  by CMG Partners, LLC

Business Wire

OAK BROOK, Ill. -- January 9, 2013

Retail Properties of America, Inc. (NYSE: RPAI) has been notified of an
unsolicited mini-tender offer by CMG Partners, LLC (“CMG”) dated December 17,
2012, to purchase up to 300,000 shares of Class A, Class B-2 and Class B-3
common stock of RPAI for $11.00, $9.50, and $8.50, respectively, per share.
The offer expires on January 31, 2013. RPAI’s Board of Directors unanimously
recommends that its shareholders reject the mini-tender offer by CMG.

CMG’s offer price for the Class A shares of common stock represents a discount
of approximately 7.6% to the $11.91 closing price of the Class A common stock
on December 14, 2012, the trading day prior to the commencement of CMG’s
mini-tender offer.

RPAI Class A shares of common stock were listed on the NYSE on April 5, 2012.
The terms of the Class B-2 common stock and Class B-3 common stock are
identical in all respects to the Class A common stock, except that the two
classes of Class B common stock are not listed on a national securities
exchange; however, the shares of Class B common stock may be transferred into
a brokerage account at any time. The shares will automatically convert to
Class A common stock and be traded on the NYSE in accordance with the
following schedule:

  *the Class B-2 common stock will automatically convert into Class A common
    stock on April 5, 2013; and
  *the Class B-3 common stock will automatically convert into Class A common
    stock on October 7, 2013.

CMG and its offer are not affiliated with RPAI. Although each stockholder has
his or her individual liquidity needs and must evaluate the offer accordingly,
the Board of Directors does not recommend or endorse CMG’s mini-tender offer
and suggests that stockholders reject the offer and not tender their shares
pursuant to the offer. RPAI strongly recommends investors obtain current
market quotes for their shares of common stock, carefully review the
conditions of the offer, consult with their broker or financial advisor and
exercise caution with respect to CMG’s offer.

Mini-tender offers are third-party offers to purchase less than 5% of a
company’s outstanding shares, thereby avoiding the filing, disclosure and
procedural requirements adopted by the Securities and Exchange Commission
(“SEC”) for the protection of investors. The SEC has cautioned investors about
these offers, noting that "some bidders make mini-tender offers at
below-market prices, hoping that they will catch investors off guard if the
investors do not compare the offer price to the current market price." The
SEC's Investor Tips regarding mini-tender offers may be found on the SEC's
website at http://www.sec.gov/investor/pubs/minitend.htm.

About RPAI

Retail Properties of America, Inc. is a fully integrated, self-administered
and self-managed real estate company that owns and operates high quality,
strategically located shopping centers across 35 states. The Company is one of
the largest owners and operators of shopping centers in the United States. The
Company is publicly traded on the New York Stock Exchange under the ticker
symbol RPAI. Additional information about the Company is available at
www.rpai.com.

Contact:

Retail Properties of America, Inc.
Sarah Byrnes
Vice President, Investor Relations
630.634.4243
byrnes@rpai.com