Business Wire | Apr 21, 2021 04:12PM EDT

Retail Value Inc. Announces Sale of Uptown Solon

Apr. 21, 2021

BEACHWOOD, Ohio--(BUSINESS WIRE)--Apr. 21, 2021--On April 21, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of Uptown Solon (Solon, OH) for $10.1 million prior to closing costs, prorations and other closing adjustments. Ninety percent (90%) of net proceeds were used to repay mortgage debt associated with RVI with the remaining proceeds retained as cash.

Subsequent to the transaction, RVI owns interests in 8 properties located in the continental U.S. and 10 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.

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CONTACT: Retail Value Inc. Christa Vesy, EVP and Chief Financial Officer 216-755-5500