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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.

RVI Announces Sale of Longhorn Steakhouse Pad – Peachstreet Marketplace

December 21, 2020 GMT

BEACHWOOD, Ohio--(BUSINESS WIRE)--Dec 21, 2020--

Retail Value Inc. (NYSE:RVI) closed on the sale of the Longhorn Steakhouse Pad at Peachstreet Marketplace (Erie, PA) for $2.1 million prior to closing costs, prorations and other closing adjustments. Ninety percent (90%) of net proceeds were used to repay mortgage debt with the remaining proceeds retained as cash.

Subsequent to the transaction, RVI owns interests in 11 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.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20201221005663/en/

CONTACT: For additional information:

Christa Vesy, EVP and

Chief Financial Officer

KEYWORD: UNITED STATES NORTH AMERICA OHIO

INDUSTRY KEYWORD: REIT OTHER RETAIL RETAIL CONSTRUCTION & PROPERTY SPECIALTY

SOURCE: Retail Value Inc.

Copyright Business Wire 2020.

PUB: 12/21/2020 04:05 PM/DISC: 12/21/2020 04:05 PM

http://www.businesswire.com/news/home/20201221005663/en