Retail Value Inc. Announces Sale of Señorial Plaza

Rhea-AI Summary

On June 3, 2021, Retail Value Inc. (NYSE: RVI) completed the sale of Señorial Plaza in Rio Piedras, PR, for $20.4 million. The net proceeds from this transaction were used to repay existing mortgage debt. Following the sale, RVI now possesses interests in 8 properties in the continental U.S. and 9 properties in Puerto Rico. The company is focused on asset management and sales, aiming to enhance value through its operations.

Positive

• Completed the sale of Señorial Plaza for $20.4 million, reducing mortgage debt.

Negative

• None.

On June 3, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of Señorial Plaza (Rio Piedras, PR) for $20.4 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 8 properties located in the continental U.S. and 9 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/20210603005977/en/

FAQ

What is the sale price of Señorial Plaza by RVI?

Retail Value Inc. sold Señorial Plaza for $20.4 million.

How did RVI utilize the proceeds from the property sale?

RVI used the net proceeds from the sale to repay mortgage debt.

How many properties does RVI own after the recent sale?

After the sale, RVI owns interests in 8 properties in the continental U.S. and 9 properties in Puerto Rico.

What does RVI focus on as a company?

RVI focuses on realizing value through operations and sales of its assets.