{"id":404802,"date":"2020-12-22T16:08:34","date_gmt":"2020-12-22T21:08:34","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404802"},"modified":"2020-12-22T16:08:34","modified_gmt":"2020-12-22T21:08:34","slug":"rvi-announces-sale-of-plaza-palma-real-partial-loan-prepayment","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/rvi-announces-sale-of-plaza-palma-real-partial-loan-prepayment\/","title":{"rendered":"RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment"},"content":{"rendered":"

<\/p>\n

RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment<\/b><\/p>\n

BEACHWOOD, Ohio–(BUSINESS WIRE<\/a>)–
\nOn December 22, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of Plaza Palma Real (Humacao, PR) for $50.0 million prior to closing costs, prorations and other closing adjustments. Net proceeds were used to repay mortgage debt associated with RVI.\n<\/p>\n

\nSubsequent to the transaction, RVI owns interests in 11 properties located in the continental U.S. and 11 properties in Puerto Rico.\n<\/p>\n

\nOn December 7, 2020, unrelated to the sale of Plaza Palma Real, RVI made a $65.0 million voluntary prepayment of the mortgage debt with unrestricted cash on hand. Pursuant to the Company\u2019s mortgage agreement loan agreement, there was no prepayment penalty associated with the repayment.\n<\/p>\n

About RVI <\/b><\/p>\n

\nRVI is an independent publicly traded company trading under the ticker symbol \u201cRVI\u201d 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<\/a>.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201222005047\/en\/<\/a><\/span><\/p>\n

For additional information:
\n<\/span>
Christa Vesy, EVP and
\n
Chief Financial Officer
\n
216-755-5500\n<\/p>\n

KEYWORDS:<\/b> Ohio United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Commercial Building & Real Estate Construction & Property Supermarket Specialty Convenience Store Discount\/Variety Retail Department Stores<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment BEACHWOOD, Ohio–(BUSINESS WIRE)– On December 22, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of Plaza Palma Real (Humacao, PR) for $50.0 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 11 properties located in the continental U.S. and 11 properties in Puerto Rico. On December 7, 2020, unrelated to the sale of Plaza Palma Real, RVI made a $65.0 million voluntary prepayment of the mortgage debt with unrestricted cash on hand. Pursuant to the Company\u2019s mortgage agreement loan agreement, there was no prepayment penalty associated with the … <\/p>\n

Continue reading “RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404802","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nRVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/rvi-announces-sale-of-plaza-palma-real-partial-loan-prepayment\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"RVI Announces Sale of Plaza Palma Real & Partial Loan Prepayment BEACHWOOD, Ohio–(BUSINESS WIRE)– On December 22, 2020, Retail Value Inc. (NYSE:RVI) closed on the sale of Plaza Palma Real (Humacao, PR) for $50.0 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 11 properties located in the continental U.S. and 11 properties in Puerto Rico. On December 7, 2020, unrelated to the sale of Plaza Palma Real, RVI made a $65.0 million voluntary prepayment of the mortgage debt with unrestricted cash on hand. 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