Retail Value sells five properties for $264m

Retail Value has sold five continental U.S. properties for $264 million.

Subsequent to the transaction, the company owns interests in three remaining properties in the continental United States.

“We are excited to complete this portfolio sale, bringing our total gross proceeds from property sales since Retail Value Inc.’s spin-off in July 2018 to $1.8 billion,” commented David R. Lukes, president and CEO. “The continued successful execution of the company’s business plan puts RVI in a position to repay the amount currently owed to SITE Centers on its preferred investment and declare dividends to common shareholders.”

RVI is an independent, publicly traded company trading under the ticker symbol “RVI” on the New York Stock Exchange. RVI holds three assets in the continental United States and is manage