RVI Announces Sale of Longhorn Steakhouse Pad – Peachstreet Marketplace

BEACHWOOD, Ohio--(BUSINESS WIRE)--Retail Value Inc. (NYSE:RVI) closed on the sale of the Longhorn Steakhouse Pad at Peachstreet Marketplace (Erie, PA) for $2.1 million prior to closing costs, prorations and other closing adjustments. 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 11 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.