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RVI Announces Sale of Newnan Crossing – Shopping Center Parcel

January 15, 2020 GMT

BEACHWOOD, Ohio--(BUSINESS WIRE)--Jan 15, 2020--

On January 15, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of the shopping center parcel of Newnan Crossing (Newnan, GA), which excludes the Lowe’s component, for $11.6 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 16 properties located in the continental U.S. and 12 properties in Puerto Rico.

About RVI

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of SITE Centers Corp. (formerly known as DDR Corp.). RVI focuses on realizing value in its business through operations and sales of its assets. Additional information about RVI is available at www.retailvalueinc.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200115005769/en/

CONTACT: Christa Vesy, 216-755-5500

EVP and Chief Financial Officer

KEYWORD: UNITED STATES NORTH AMERICA OHIO GEORGIA

INDUSTRY KEYWORD: RETAIL ARCHITECTURE OTHER CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESTAURANT/BAR CONSTRUCTION & PROPERTY CONVENIENCE STORE BUILDING SYSTEMS DEPARTMENT STORES OTHER RETAIL SUPERMARKET URBAN PLANNING REIT LANDSCAPE

SOURCE: Retail Value Inc.

Copyright Business Wire 2020.

PUB: 01/15/2020 04:05 PM/DISC: 01/15/2020 04:06 PM

http://www.businesswire.com/news/home/20200115005769/en