Retail Value Inc (fka RVIC)

[Enterprising Investor]

RVI Announces Sale of Tucson Spectrum (2/26/120)

BEACHWOOD, Ohio--(BUSINESS WIRE)--On February 26, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of Tucson Spectrum (Tucson, AZ) for $84.0 million. Net proceeds equal to 105% of the property’s allocated loan amount were used to repay mortgage debt associated with RVI with the remaining proceeds retained as cash.

Subsequent to the transaction, RVI owns interests in 14 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/20200226005830/en/RVI-Announces-Sale-Tucson-Spectrum