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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1478950	Excel Trust Inc.	EXL	Real Estate Investment Trusts (6798)	271493212

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1059510	B Gary Sabin	17140 Bernardo Center Drive Suite 300 San Diego CA 92128	Chairman Of The Board / Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-04-06	53,983	$12.10	156,929	No	4	P	Indirect	By Excel Realty Fund, LP

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By Excel Realty Fund, LP

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	367,254	Direct
Common Stock	351,064	Indirect	By Gary B. Sabin Family Trust dated May 20, 1982
Common Stock	38,000	Indirect	By Excel Realty Holdings, LLC

Footnotes

The reported securities are owned directly by Excel Realty Fund, LP ("ERF"), of which the Reporting Person previously owned a 66% interest. On April 6, 2011, the Reporting Person purchased the remaining 34% ownership interest in ERF.
The reported securities are owned directly by the Gary B. Sabin Family Trust dated May 20, 1982 (the "Trust"), of which the Reporting person is the trustee. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.
The reported securities are owned directly by Excel Realty Holdings, LLC ("ERH"), of which the Trust is the sole member. As the trustee of the Trust, the Reporting Person may be deemed to be the beneficial owner of of the securities owned by ERH, but the Reporting Person disclaims such beneficial ownership except to the extent of his pecuniary interest therein.