Business Wire | Jul 27, 2020 05:00PM EDT

RVI Announces Sale of Lowe's - Newnan Crossing

Jul. 27, 2020

BEACHWOOD, Ohio--(BUSINESS WIRE)--Jul. 27, 2020--On July 27, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of the Lowe's at Newnan Crossing (Newnan, GA) for $15.6 million. The shopping center parcel of Newnan Crossing was previously sold. Ninety percent (90%) of net proceeds were used to repay mortgage debt with the remaining proceeds retained as cash.

Subsequent to the transaction, RVI owns interests in 12 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.

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CONTACT: Christa Vesy, EVP and Chief Financial Officer 216-755-5500