Retail Value Inc. Announces Sale of Marketplace of Brown Deer

Rhea-AI Summary

On April 9, 2021, Retail Value Inc. (NYSE: RVI) finalized the sale of Marketplace of Brown Deer for $10.3 million, netting proceeds used to reduce mortgage debt. Post-transaction, RVI now holds interests in 21 properties across the continental U.S. and Puerto Rico. The firm is managed by subsidiaries of SITE Centers Corp. and aims to enhance its value through strategic operations and asset sales.

Positive

• Sale of Marketplace of Brown Deer for $10.3 million.
• Reduction of mortgage debt utilizing net proceeds from the sale.
• Ownership of 21 properties enhances asset portfolio.

Negative

• None.

On April 9, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of Marketplace of Brown Deer (Brown Deer, WI) for $10.3 million prior to closing costs, prorations and other closing adjustments. Net proceeds were used to repay mortgage debt associated with RVI.

Subsequent to the transaction, RVI owns interests in 10 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210409005456/en/

FAQ

What was the sale price of the Marketplace of Brown Deer by Retail Value Inc.?

Retail Value Inc. sold the Marketplace of Brown Deer for $10.3 million.

How will the proceeds from the Brown Deer sale be used by RVI?

The proceeds from the sale will be used to repay mortgage debt associated with Retail Value Inc.

How many properties does Retail Value Inc. own after the recent sale?

After the sale, Retail Value Inc. owns interests in 21 properties, including 10 in the continental U.S. and 11 in Puerto Rico.

Which company manages Retail Value Inc.?

Retail Value Inc. is managed by one or more subsidiaries of SITE Centers Corp.

What is the ticker symbol for Retail Value Inc.?

The ticker symbol for Retail Value Inc. is RVI.