Retail Value Inc. Announces Sale of Green Ridge Square

Rhea-AI Summary

On December 6, 2021, Retail Value Inc. (NYSE: RVI) completed the sale of Green Ridge Square in Grand Rapids, Michigan for $23.3 million in cash. The net proceeds at closing were approximately $22.3 million. Following this transaction, RVI retains ownership of two assets in the continental U.S. RVI aims to maximize value through the management and sales of its properties.

Positive

• Completed property sale generating approximately $22.3 million in net proceeds.
• Retains ownership of two properties in the continental U.S., allowing for potential future revenue.

Negative

• None.

BEACHWOOD, Ohio--(BUSINESS WIRE)-- On December 6, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of Green Ridge Square (Grand Rapids, Michigan) for $23.3 million in cash prior to closing costs, prorations and other closing adjustments. Net proceeds received at closing were approximately $22.3 million.

Subsequent to the transaction, RVI owns interests in two properties located in the continental U.S.

About RVI

RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds two assets in the continental U.S. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005835/en/

Christa Vesy, EVP and Chief Financial Officer

216-755-5500

Source: Retail Value Inc.

FAQ

What was the sale price of Green Ridge Square by Retail Value Inc.?

Retail Value Inc. sold Green Ridge Square for $23.3 million.

What are the net proceeds from the sale of Green Ridge Square?

The net proceeds from the sale were approximately $22.3 million.

How many properties does Retail Value Inc. own after the sale on December 6, 2021?

After the sale, Retail Value Inc. owns two properties in the continental U.S.

On what date did Retail Value Inc. close the sale of Green Ridge Square?

Retail Value Inc. closed the sale of Green Ridge Square on December 6, 2021.

What stock symbol is associated with Retail Value Inc.?

Retail Value Inc. is listed under the stock symbol RVI on the New York Stock Exchange.