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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Retail Value Inc. Announces Sale of Noble Town Center

April 13, 2021 GMT

BEACHWOOD, Ohio--(BUSINESS WIRE)--Apr 13, 2021--

On April 13, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of Noble Town Center (Jenkintown, PA) for $14.0 million prior to closing costs, prorations and other closing adjustments. Ninety percent (90%) of net proceeds were used to repay mortgage debt associated with RVI with the remaining proceeds retained as cash.

Subsequent to the transaction, RVI owns interests in 9 properties located in the continental U.S. and 11 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. 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.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20210413006130/en/

CONTACT: Christa Vesy, EVP and Chief Financial Officer

216-755-5500

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA OHIO

INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY DISCOUNT/VARIETY DEPARTMENT STORES FINANCE OTHER RETAIL SUPERMARKET PROFESSIONAL SERVICES RETAIL

SOURCE: Retail Value Inc.

Copyright Business Wire 2021.

PUB: 04/13/2021 04:25 PM/DISC: 04/13/2021 04:25 PM

http://www.businesswire.com/news/home/20210413006130/en