Excel Trust Inc. has completed a $117.3 million offering of common stock, including the full exercise of underwriters’ option to purchase additional shares, the San Diego-based real estate investment trust announced.

The company completed the sale of 8.5 million shares of common stock at a price of $12 per share, along with the sale of 1.275 million additional shares to the underwriters. Excel Trust received net proceeds of approximately $113.1 million after the underwriting discount and expenses related to the offering.

Excel officials said the company plans to use net proceeds to repay existing indebtedness under its unsecured revolving credit facility, incurred in connection with its recent acquisition of five retail shopping centers and a 50 percent interest in a sixth retail property for approximately $262.8 million. Proceeds will also go toward other general corporate and working capital purposes.

BofA Merrill Lynch, Morgan Stanley and Raymond James were joint book-running managers for the offering, with several other firms serving as co-managers.

Excel Trust is a retail-focused REIT with headquarters in Rancho Bernardo. It trades under the symbol EXL on the New York Stock Exchange.