Exhibit 99.1

RETAIL PROPERTIES OF AMERICA, INC. REPORTS

SECOND QUARTER RESULTS

Oak Brook, IL – August 6, 2012 – Retail Properties of America, Inc. (NYSE: RPAI) today reported financial and operating results for the quarter and six months ended June 30, 2012.

FINANCIAL RESULTS

For the quarter ended June 30, 2012, Retail Properties of America reported:

■                 Operating Funds From Operations (Operating FFO) of $51.0 million, or $0.23 per share, compared to $45.0 million, or $0.23 per share for the same period in 2011;

■                 Funds From Operations (FFO) of $70.2 million, or $0.31 per share, compared to $49.0 million, or $0.25 per share for the same period in 2011;

■                 Net income of $17.7 million, or $0.08 per share, compared to a net loss of $13.7 million, or $(0.07) per share, for the same period in 2011.

For the six months ended June 30, 2012, the Company reported:

■                 Operating FFO of $100.1 million, or $0.48 per share, compared to $85.7 million, or $0.45 per share for the same period in 2011;

■                 FFO of $118.6 million, or $0.56 per share, compared to $100.5 million, or $0.52 per share, for the same period in 2011;

■                 Net income of $1.4 million, or $0.01 per share, compared to a net loss of $53.7 million, or $(0.28) per share, for the same period in 2011.

OPERATING RESULTS

For the quarter ended June 30, 2012, Retail Properties of America’s results for its consolidated portfolio were as follows:

■                 4.1% increase in total same store net operating income (NOI) over the comparable period in 2011;

■                 Total portfolio percent leased, including leases signed but not commenced: 91.6% at June 30, 2012, up 20 basis points from 91.4% at March 31, 2012 and up 160 basis points from 90.0% at June 30, 2011;

■                 Retail portfolio percent leased, including leases signed but not commenced: 91.0% at June 30, 2012, up 40 basis points from 90.6% at March 31, 2012 and up 230 basis points from 88.7% at June 30, 2011;

■                 707,000 square feet of retail leasing transactions, comprised of 148 new and renewal leases; and,

■               Generated positive comparable leasing spreads, including the Company’s pro rata share of joint ventures, on a cash basis, with new leases at 7.5% and renewal leases at 4.3%, for a blended spread of 5.0%.

Mr. Steven P. Grimes, president and CEO, stated, “During the second quarter, the Company generated significant year-over-year operational improvements with strong leasing activity, increased portfolio occupancy, and robust same store NOI growth.  We are encouraged by our progress, and with our recent equity offering, we believe we are well positioned to capture the embedded growth in our portfolio, despite the economic cross-currents.  We remain focused on increasing long-term shareholder value through active asset management and prudent capital recycling.”

CAPITAL MARKETS AND BALANCE SHEET ACTIVITY

PUBLIC EQUITY OFFERING

On April 11, 2012, Retail Properties of America closed on a public offering of 36.57 million shares of common stock (including the overallotment option), raising $292.6 million in gross proceeds, or $266.5 million in net proceeds. This transaction also resulted in the listing of the Company’s Class A common stock on the NYSE under the symbol “RPAI.” The Company utilized the net proceeds from this transaction to repurchase its partner’s interest in a consolidated joint venture for $55.4 million, to repay a $94.3 million mortgage loan on a pool of six cross-collateralized properties, and to repay $116.8 million of outstanding amounts under its senior unsecured revolving line of credit.

FINANCINGS

During the quarter, Retail Properties of America closed on $134.0 million of mortgage loan financings, secured by three properties. The financing activity during the quarter was completed at a weighted average interest rate of 4.31% and a weighted average term of 8.7 years. The Company also made repayments on mortgages payable of $223.4 million, excluding amortization, and received forgiveness of debt of $23.6 million. The mortgages repaid during the quarter had a weighted average interest rate of 6.39%.

BALANCE SHEET

As of June 30, 2012, the Company had $3.1 billion of consolidated indebtedness outstanding at a weighted average interest rate of 5.87% and a weighted average maturity of 5.5 years.

Subsequent to quarter end, the Company entered into an interest rate swap transaction to convert the variable rate portion of $300 million of floating rate debt to a fixed rate of 0.53875% from July 31, 2012 through February 24, 2016, the maturity date of the Company’s unsecured term loan. The margin on the unsecured term loan is based on a leverage grid and ranges from 1.75% to 2.50%. The applicable margin was 2.50% as of June 30, 2012.

INVESTMENT ACTIVITY

On April 10, 2012, the Company transferred one office property that was subject to a matured mortgage to the lender as a deed in lieu of foreclosure and received debt forgiveness of $23.6 million, resulting in a gain of $6.8 million. The Company has one remaining mortgage payable past maturity and continues to pursue an appropriate resolution.

As previously announced, during the second quarter, the Company, through its wholly-owned subsidiaries, completed a multi-year lease extension with Aon Corporation for approximately 819,000 square feet in Lincolnshire, IL. This transaction represents the successful renewal of the largest tenant in the non-core portfolio and the Company expects to market this asset in the near future.

TERMINATED SERVICE AGREEMENTS

During the second quarter of 2012, the Company provided written notice of termination of the following agreements with The Inland Group and its affiliates: investment advisor services, loan servicing, mortgage financing services, communications services, institutional investor relationships services, insurance and risk management services, property tax services, computer services and personnel services. With the exception of the investment advisor agreement termination, which was effective in the second quarter of 2012, these terminations will be effective during the fourth quarter of 2012.

On August 2, 2012, the Company executed a lease for new office space with an external third-party and will relocate its corporate headquarters by year-end 2012.

DIVIDEND

On June 8, 2012, the Board of Directors of Retail Properties of America declared the second quarter distribution of $0.165625 per share, payable on July 10, 2012 to stockholders of record at the close of business on June 29, 2012.

GUIDANCE

Retail Properties of America is increasing guidance for 2012 Operating FFO per share to a range of $0.83 to $0.87 versus prior guidance of $0.80 to $0.86 and improving its 2012 net loss per share guidance to a range of $(0.15) to $(0.11) versus prior guidance of $(0.23) to $(0.17).

WEBCAST AND SUPPLEMENTAL INFORMATION

Retail Properties of America’s management team will hold a webcast, on Tuesday, August 7, 2012 at 10:00 AM EST, to discuss its quarterly financial results and operating performance, business highlights and outlook. In addition, the Company may discuss business and financial developments and trends and other matters affecting the Company, some of which may not have been previously disclosed.  To participate in the online webcast on the Company’s website please go to www.rpai.com under the investor relations section of the website and follow the directions.  A replay of the webcast will be available. To listen to the replay, please go to www.rpai.com under the investor relations section of the website and follow the directions.

The Company has also posted supplemental financial and operating information and other data on the investor relations section of its website.

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.

SAFE HARBOR LANGUAGE

The statements and certain other information contained in this press release, which can be identified by the use of forward-looking terminology such as “may,” “expect,” “continue,” “remains,” “intend,” “aim,” “should,” “prospects,” “could,” “future,” “potential,” “believes,” “plans,”  “likely,” “anticipate,” and “probable,” or the negative thereof or other variations thereon or comparable terminology, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby.  These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that such plans, intentions, expectations or strategies will be attained or achieved. Furthermore, these forward-looking statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment.  Such risks and uncertainties could cause actual results to differ materially from those projected.  These uncertainties include, but are not limited to, general economic, business and financial conditions, changes in the Company’s industry and changes in the real estate markets in particular, market demand for and pricing of the Company’s common stock, general volatility of the capital and credit markets, competitive and cost factors, the ability of the Company to enter into new leases or renew leases on favorable terms, defaults on, early terminations of or non-renewal of leases by tenants, bankruptcy or insolvency of a major tenant or a significant number of smaller tenants, the effects of declining real estate valuations and impairment charges on the Company’s operating results, increased interest rates and operating costs, decreased rental rates or increased vacancy rates, the uncertainties of real estate acquisitions, dispositions and redevelopment activity, the Company’s failure to successfully execute its non-core disposition program and capital recycling efforts, the Company’s ability to create long-term shareholder value, the Company’s ability to manage its growth effectively, the availability, terms and deployment of capital, regulatory changes and other risk factors, including those detailed in the sections of the Company’s most recent Form 10-K and Form 10-Qs filed with the SEC titled “Risk Factors”. We assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP FINANCIAL MEASURES

As defined by the National Association of Real Estate Investment Trusts (NAREIT), an industry trade group, FFO means net (loss) income computed in accordance with generally accepted accounting principles (GAAP), excluding gains (or losses) from sales of investment properties, plus depreciation and amortization and impairment charges on investment properties, including adjustments for unconsolidated joint ventures in which the Company holds an interest. The Company has adopted the NAREIT definition in its computation of FFO and believes that FFO, which is a non-GAAP performance measure, provides an additional and useful means to assess the operating performance of real estate investment trusts (REITs). Management believes that, subject to the following limitations, FFO provides a basis for comparing the Company’s performance and operations to those of other REITs. Depreciation and amortization related to investment properties for purposes of calculating FFO include loss on lease terminations, which encompasses the write-off of tenant-related assets, including tenant improvements and in-place lease values, as a result of early lease terminations. Loss on lease terminations included in depreciation and amortization for FFO excludes the write-off of tenant-related above and below market lease intangibles that are otherwise included in “Loss on lease terminations” in the Company’s condensed consolidated statements of operations.  The Company also reports Operating FFO, which is defined as FFO excluding the impact of gains and losses from the early extinguishment of debt and other items as denoted within the calculation that management does not believe are representative of the operating results of the Company’s core business platform. Management considers Operating FFO a meaningful, additional measure of operating performance primarily because it excludes the effects of transactions and other events which management does not consider representative of the operating results of the Company’s core business platform. Further, comparison of the Company’s presentation of Operating FFO to similarly titled measures for other REITs may not necessarily be meaningful due to possible differences in definition and application by such REITs.  FFO and Operating FFO are not intended to be alternatives to “Net Income” as indicators of the Company’s performance, nor alternatives to “Cash Flows from Operating Activities” as determined by GAAP as measures of the Company’s capacity to pay dividends. The Company also reports same store NOI.  The Company defines NOI as operating revenues (rental income, tenant recovery income, other property income, excluding straight-line rental income, amortization of lease inducements and amortization of acquired above and below market lease intangibles) less property operating expenses (real estate tax expense and property operating expense, excluding straight-line ground rent expense and straight-line bad debt expense). Same store NOI represents NOI from the Company’s same store portfolio consisting of 270 operating properties acquired or place in service prior to January 1, 2011, but excluding University Square, the property for which we have ceased making the monthly debt service payment and for which we have attempted to negotiate with the lender, due to the uncertainty of the timing of transfer of ownership of this property. Management believes that NOI and same store NOI are useful measures of the Company’s operating performance. Other REITs may use different methodologies for calculating NOI, and accordingly, the Company’s NOI may not be comparable to other REITs. Management believes that NOI and same store NOI provide an operating perspective not immediately apparent from GAAP operating income or net (loss) income. Management uses NOI and

same store NOI to evaluate the Company’s performance on a property-by-property basis because these measures allow management to evaluate the impact that factors such as lease structure, lease rates and tenant base, which vary by property, have on the Company’s operating results. However, these measures should only be used as an alternative measure of the Company’s financial performance.

Retail Properties of America, Inc.

Condensed Consolidated Balance Sheets

(amounts in thousands, except par value amounts)

(unaudited)

Retail Properties of America, Inc.

Condensed Consolidated Statements of Operations

(amounts in thousands, except per share amounts)

(unaudited)

Retail Properties of America, Inc.

Funds From Operations (FFO) and Operating FFO

(amounts in thousands, except per share amounts)

(unaudited)

Retail Properties of America, Inc.

Reconciliation of Non-GAAP Financial Measures

Reconciliation of Net Income (Loss) to NOI

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Retail Properties of America, Inc.

FFO and Operating FFO Guidance

(a)   Includes amounts from discontinued operations.