Retail Value Inc (fka RVIC)

[Enterprising Investor]

RVI Announces Sale of Shoppers World of Brookfield (5/23/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On May 23, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of Shoppers World of Brookfield (Brookfield, WI) for $19.5 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 21 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.

https://www.businesswire.com/news/home/20190523005829/en/RVI-Announces-Sale-Shoppers-World-Brookfield

[Enterprising Investor]

RVI Announces Sale of Mariner Square (4/05/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On April 5, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of Mariner Square (Spring Hill, FL) for $17.0 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 22 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 tickersymbol “RVI” on the New York Stock Exchange. RVI holds assets in thecontinental U.S. and Puerto Rico and is managed by one or moresubsidiaries of SITE Centers Corp. (formerly known as DDR Corp.). RVIfocuses on realizing value in its business through operations and salesof its assets. Additional information about RVI is available at www.retailvalueinc.com.

https://www.businesswire.com/news/home/20190405005477/en/RVI-Announces-Sale-Mariner-Square

[Enterprising Investor]

Retail Value Inc. has entered into an amendment to modify the interest rate applicable to the $900 million mortgage refinancing that closed on 3/11/19 (3/29/19)

The weighted average interest rate on the notes issued by the subsidiaries in connection with the refinancing will be equal to one-month LIBOR plus 230 basis points, which is below the refinancing’s initial rate of one-month LIBOR plus 250 basis points and the previous loan’s initial rate of one-month LIBOR plus 315 basis points.

[Enterprising Investor]

RVI Announces Sale of Midway Marketplace (3/26/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On March 26, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of Midway Marketplace (St. Paul, MN) for $31.0 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 23 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.

https://www.businesswire.com/news/home/20190326005789/en/

[Enterprising Investor]

RVI Announces Sale of Lowe's Home Improvement (3/04/19)

On March 4, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of Lowe's Home Improvement (Hendersonville, TN) for $16.1 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 24 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.

https://www.businesswire.com/news/home/20190304005962/en/

[Enterprising Investor]

RVI Announces Sale of Chick-fil-A Pad – West Allis Center (3/01/19)

On March 1, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of the Chick-fil-A Pad at West Allis Center (West Allis, WI) for $2.2 million. Net proceeds were used to repay mortgage debt associated with RVI.

RVI owns interests in 25 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.

https://www.businesswire.com/news/home/20190301005533/en/

[Enterprising Investor]

RVI Announces Sale of TD Bank Pad – Homestead Pavilion (2/27/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On February 27, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of the TD Bank Pad at Homestead Pavilion (Homestead, FL) for $4.1 million. Net proceeds were used to repay mortgage debt associated with RVI.

RVI owns interests in 25 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.

https://www.businesswire.com/news/home/20190227005946/en/RVI-Announces-Sale-TD-Bank-Pad-–

[Enterprising Investor]

RVI Announces Sale of Millenia Plaza (2/08/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On February 8, 2019, Retail Value Inc. (NYSE:RVI) closed on the sale of Millenia Plaza (Orlando, FL) for $56.4 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 25 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.

https://www.businesswire.com/news/home/20190208005448/en/

[Enterprising Investor]

Retail Value Inc. Announces the Results of Dividend Election (1/24/19)

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE: RVI) announced that its common stock dividend of $1.30 per share payable on January 25, 2019 will be paid with approximately $4.3 million in cash and approximately 580,000 common shares after giving effect to the Puerto Rico withholding tax of 10% which is applicable to the full $1.30 distribution.

Holders of approximately 6.7 million shares elected to receive the distribution in 100% RVI common shares and, after giving effect to the Puerto Rico withholding tax of 10% on the full $1.30 per share distribution, will receive $1.17 per share in RVI common shares

Holders of approximately 11.7 million shares elected to receive the distribution in 100% cash and, after giving effect to the Puerto Rico withholding tax of 10% on the full $1.30 distribution, will receive $0.368725 per share in cash (31.51%) and $0.801275 per share in RVI common shares (68.49%)

The value of the distribution paid in common shares is based upon the volume weighted average trading price of the Company’s Common shares on January 16, January 17, and January 18, 2019, or $29.8547 per share. All fractional shares will be paid in cash.

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.

https://www.businesswire.com/news/home/20190124005430/en/Retail-Announces-Results-Dividend-Election

[Enterprising Investor]

RVI Announces Sale of Kyle Crossing (12/14/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On December 20, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Kyle Crossing (Kyle, TX) for $27.6 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 26 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 tickersymbol “RVI” on the New York Stock Exchange. RVI holds assets in thecontinental U.S. and Puerto Rico and is managed by one or moresubsidiaries of SITE Centers Corp. RVI focuses on realizing value in itsbusiness through operations and sales of its assets. Additionalinformation about RVI is available at www.retailvalueinc.com.

https://www.businesswire.com/news/home/20181214005525/en/RVI-Announces-Sale-Kyle-Crossing

[Enterprising Investor]

Retail Value Inc. Declares 2018 Year-End Common Stock Dividend of $1.30 (12/07/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE: RVI) declared a common stock dividend of $1.30 per share (approximately $24.0 million in the aggregate) on account of annual taxable income generated in Puerto Rico. The dividend is payable on January 25, 2019 to shareholders of record at the close of business on December 17, 2018 and will be subject to a 10% withholding tax.

In order to retain capital given the expected pace of spending on repair of hurricane damages in Puerto Rico assets, the Company has elected to pay the dividend in a combination of cash and common shares with the cash component not to exceed 20% of the aggregate dividend.

In accordance with Internal Revenue Service guidance, shareholders may make an election to receive their dividend in all cash or all common shares. Shareholders who do not make an election will be deemed to have elected to receive their dividend in all cash. However, to the extent more than 20% cash is elected by all shareholders in the aggregate, then the cash portion will be prorated. The value of the shares distributed in the dividend will be based upon the volume weighted average trading prices of the Company's common stock on January 16, January 17 and January 18, 2019. Fractional shares of common stock will not be issued; stockholders who would otherwise be entitled to receive fractional shares will receive a cash payment in lieu of fractional shares. Election forms are expected to commence mailing on December 26, 2018, and must be received by the Company's transfer agent, Computershare Shareholder Services, by 5:00 p.m. EDT on January 15, 2019.

If you have any questions regarding the election form or the election deadline, please call Georgeson Inc., our Information Agent for the election, toll free at 866-695-6078. If your shares are held through a bank, broker or nominee, and you have questions regarding the dividend election, please contact such bank, broker or nominee, who will also be responsible for distributing the election form to you and submitting the completed election form on your behalf.

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.

https://www.businesswire.com/news/home/20181207005469/en/Retail-Declares-2018-Year-End-Common-Stock-Dividend

[Enterprising Investor]

RVI Announces Sale of Douglasville Pavilion (11/20/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On November 20, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Douglasville Pavilion (Douglasville, GA) for $35.1 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 27 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.

https://www.businesswire.com/news/home/20181120005712/en/RVI-Announces-Sale-Douglasville-Pavilion

[Enterprising Investor]

RVI Announces Sale of International Drive Value Center (11/13/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On November 13, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of International Drive Value Center (Orlando, FL) for $26.2 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 28 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.

https://www.businesswire.com/news/home/20181113006280/en/RVI-Announces-Sale-International-Drive-Center

[Enterprising Investor]

RVI Announces Sale of Palm Valley Pavilions West (10/18/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On October 18, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Palm Valley Pavilions West (Goodyear, AZ) for $44.8 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 29 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.

https://www.businesswire.com/news/home/20181018005859/en/RVI-Announces-Sale-Palm-Valley-Pavilions-West

[Enterprising Investor]

Retail Value Inc.: Lender Appraisal Points To 100% Return (10/04/18)

https://seekingalpha.com/article/4209815-retail-value-inc-lender-appraisal-points-100-percent-return

[Enterprising Investor]

RVI Announces Sale of Gresham Station (9/14/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On September 14, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Gresham Station (Gresham, OR) for $64.5 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 30 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 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.

https://www.businesswire.com/portal/site/home/search/?searchType=all&searchTerm=rvi&searchPage=1

[Enterprising Investor]

RVI Announces Sale of Brandon Boulevard Shoppes (8/29/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On August 29, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale ofBrandon Boulevard Shoppes (Valrico, FL) for $14.7 million. Net proceedswere used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 31 propertieslocated in the continental U.S. and 12 properties in Puerto Rico.

About RVI

RVI is an independent publicly traded company trading under the tickersymbol “RVI” on the New York Stock Exchange. RVI holds assets in thecontinental U.S. and Puerto Rico and is managed by one or moresubsidiaries of DDR Corp. RVI focuses on realizing value in its businessthrough operations and sales of its assets. Additional information aboutRVI is available at www.retailvalueinc.com.

https://www.businesswire.com/news/home/20180829005722/en/RVI-Announces-Sale-Brandon-Boulevard-Shoppes

[Enterprising Investor]

RVI Announces Sale of Grandville Marketplace (8/13/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On August 13, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Grandville Marketplace (Grandville, MI) for $16.7 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 32 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 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.

https://www.businesswire.com/news/home/20180813005535/en/RVI-Announces-Sale-Grandville-Marketplace

[Enterprising Investor]

RVI Announces Sale of East Lloyd Commons (8/01/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On August 1, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of East Lloyd Commons (Evansville, IN) for $23.0 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 33 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 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.

https://www.businesswire.com/news/home/20180801006040/en/RVI-Announces-Sale-East-Lloyd-Commons

[Enterprising Investor]

Goldman pulls bearish outlook for retail REITs (7/17/18)

By: Stephen Alpher, SA News Editor

•The bad news - at least relative to other REITs - has been priced in, says analyst Caitlin Burrows, upgrading the retail REIT sector to Neutral from Cautious.

•With fewer bankruptcies and store closings, the outlook for same-store NOI growth is stabilizing, she says. While nine out of 11 companies in her coverage universe missed guidance last year, 2018 forecasts have been more conservative and thus there have been fewer negative surprises in 2018. Investors in Washington Prime (NYSE:WPG) and PREIT (NYSE:PEI), however, should still be on the lookout for missed forecasts.

•She upgrades Macerich (NYSE:MAC) to Neutral from Sell.

•In other moves, Morgan Stanley starts coverage on Retail Value (NYSE:RVI) - just spun out of DDR - with an Overweight rating and $41 price target, suggesting about 15% upside.

•Source: Bloomberg

•Other names of interest: CBL & Associates (NYSE:CBL), Taubman Centers (NYSE:TCO), Kimco (NYSE:KIM), Federal Realty (NYSE:FRT), Tanger Factory (NYSE:SKT)

https://seekingalpha.com/news/3370615-goldman-pulls-bearish-outlook-retail-reits

[Enterprising Investor]

An Honest To Goodness Dollar Trading For Fifty Cents (7/11/18)

https://seekingalpha.com/article/4186631-honest-goodness-dollar-trading-fifty-cents

[Sargon007]

RVI Announces Sale of Lake Walden Square

BEACHWOOD, OHIO --- On July 10, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Lake Walden
Square (Plant City, FL) for $29.0 million. Net proceeds were used to repay mortgage debt associated with
RVI.

Subsequent to the transaction, RVI owns interests in 34 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 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.

[Enterprising Investor]

RVI Announces Sale of Tequesta Shoppes (7/06/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On July 6, 2018, Retail Value Inc. (NYSE:RVI) closed on the sale of Tequesta Shoppes (Tequesta, FL) for $14.3 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 35 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 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.

https://www.businesswire.com/news/home/20180706005407/en/RVI-Announces-Sale-Tequesta-Shoppes

[Enterprising Investor]

I hope the author is right! Time will tell.

Here in Texas, people used to cry out, "Remember the Alamo!".

When it comes to investing in liquidating REITs, I advise people to think, "Remember NYRT!". People got burned thanks to inflated projections of liquidation value.

However, I overcame the high price paid on my initial stake in NYRT by reinvesting all of the proceeds received to date into more units. I advised others to do the same.

Now, I actually own NYRT at a slight discount to market - something I never expected would happen 18 months ago. Most investors I know just sold out at a loss once the bad news came out. I plan to do the same thing with RVI, just like every other liquidation that I have been involved in.

[Sargon007]

There is an interesting write-up on VIC. The author values RVI at $52.20/share. I'm getting closer to $50/share.

$650 Million or 12.50% cap rate for PR properties
$1.70 Billion or 8.50% cap rate for US properties
Cash+receivables+ insurance recoveries = $145 Million

Total Assets= $2.495B

Total liabilities + preferred =$1.568B

Fair value= $50.11/share

I think RVI should trade at $40 today. Please Let me know if i'm missing something.

[Enterprising Investor]

Disposition Properties (7/03/18)

https://retailvalueinc.com/disposition-properties

[Enterprising Investor]

[From the Department of Corrections]

Book value was $37.63 at 3/31/18.

Pro Forma equity detailed at $696.2 million with a projected 18.5 million shares outstanding. The actual numbers will probably be different looking back.

My earlier number incorrectly included the $190 million in mezzanine equity. Shame on me.

I don't drink coffee. Maybe I should have a cup this morning?

Sorry for any confusion.

[Phaedrus77]

I think BV for common is closer to $37.50. The $49.78 includes the preferred stock issued to DDR.

I’m seeing $696 milion of equity and ~18.5 million shares. I could be missing something though.

[Enterprising Investor]

RVI will trade at a discount until the very last property is sold.

Book value at 3/31/18 was $49.78. Sales prices realized over time may be more or less than the book value. I expect gross proceeds to be in excess of book value at 3/31/18.

The number of properties to be sold started out at 50. Two have been sold since the separation plan was released.

https://www.sec.gov/Archives/edgar/data/1735184/000119312518192249/d394376dex991.htm

[Sargon007]

What's your fair value estimate for RVI Enterprising Investor? Thanks.

[Enterprising Investor]

Assigned value was $29.99.

[Enterprising Investor]

Day One (7/02/18)

RETAIL VALUE INC (RVI)
Volume 380,683
Open 30.5000
Day High 32.7000
Day Low 30.0600

[Enterprising Investor]

DDR Announces Completion of Spin-Off of Retail Value Inc. (7/02/18)

EACHWOOD, Ohio--(BUSINESS WIRE)--DDR Corp. (NYSE:DDR) today announced that it has completed the previously announced spin-off of Retail Value Inc. (“RVI”), which is now an independent, publicly traded company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the ticker symbol “RVI.” RVI has a portfolio of 48 assets that includes 36 continental U.S. assets and all 12 of DDR’s previously owned Puerto Rico assets.

DDR shareholders received one RVI common share for every ten common shares of DDR held at the close of business on the record date of June 26, 2018. Fractional shares of RVI were not distributed, and instead DDR common shareholders will receive cash in lieu of any fractional shares that they would otherwise have been entitled to receive in the distribution.

“I am extremely excited by the completion of the spin-off of RVI, which should allow our shareholders to benefit from value realization through operations and dispositions at RVI and redevelopment, same store NOI growth, and opportunistic investing at New DDR,” said David R. Lukes, president and chief executive officer of DDR. “This transaction represents a decisive, strategic transformation that aims to generate both short and long-term benefits for all our stakeholders.”

About DDR

DDR is an owner and manager of open-air shopping centers that provide a compelling shopping experience and merchandise mix for retail partners and consumers. The Company is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

https://www.businesswire.com/news/home/20180702005161/en/DDR-Announces-Completion-Spin-Off-Retail

[Enterprising Investor]

Retail Value Inc. Announces Completion of Spin-Off From DDR Corp. (7/02/18)

EACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE:RVI) today announced that it has completed its previously announced spin-off from DDR Corp. (“DDR”) and is now an independent, publicly traded company that will begin regular-way trading today on the New York Stock Exchange (“NYSE”) under the ticker symbol “RVI.” RVI has a portfolio of 48 assets that includes 36 continental U.S. assets and all 12 of DDR’s previously owned Puerto Rico assets.

DDR shareholders received one RVI common share for every ten common shares of DDR held at the close of business on the record date of June 26, 2018. Fractional shares of RVI were not distributed, and instead DDR common shareholders will receive cash in lieu of any fractional shares that they would otherwise have been entitled to receive in the distribution.

About RVI

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the NYSE. RVI holds assets in the continental U.S. and Puerto Rico and is managed by one or more subsidiaries of DDR. RVI focuses on realizing value in its business through operations and sales of its assets, which had a combined gross book value of approximately $2.8 billion as of March 31, 2018. Additional information about RVI is available at www.retailvalueinc.com. To be included in the Company’s e-mail distributions for press releases and other investor news, please click here.

https://www.businesswire.com/news/home/20180702005159/en/Retail-Announces-Completion-Spin-Off-DDR-Corp.

[Enterprising Investor]

RVI Announces Sale of The Walk at Highwoods Preserve (6/27/18)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On June 27, 2018, Retail Value Inc. (“RVI”) closed on the sale of The Walk at Highwoods Preserve (Tampa, FL) for $25.0 million. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 36 properties located in the continental U.S. and 12 properties in Puerto Rico.

About RVI

RVI is currently a wholly-owned subsidiary of DDR Corp. (“DDR”) and will become an independent publicly traded company upon its spin-off from DDR, which is expected to occur on or about July 1, 2018. Upon completion of the spin-off, RVI will trade on the New York Stock Exchange under the ticker symbol “RVI”. RVI was formed primarily to hold assets in the continental U.S. and Puerto Rico and will be managed by one or more subsidiaries of DDR upon completion of the spin-off. RVI expects to focus on realizing value in its business through operations and sales of its assets, which had a combined gross book value of approximately $2.8 billion as of March 31, 2018.

https://www.businesswire.com/news/home/20180627006296/en/RVI-Announces-Sale-Walk-Highwoods-Preserve