BEACHWOOD, Ohio – On December 15, 2021
BEACHWOOD, Ohio – On December 15, 2021, Retail Value Inc. (NYSE: RVI) closed on the sale of
Willowbrook Plaza (Houston, Texas) for $37.1 million in cash prior to closing costs, prorations and other
closing adjustments. Subsequent to the transaction, RVI owns an interest in one property located in the
continental U.S.
Net proceeds from the transaction of approximately $35.7 million, along with proceeds from the previously
announced sale of Green Ridge Square and cash on hand, are expected to be utilized for a special cash
distribution on the Company’s common shares.
Common Share Distribution
The Company declared a special cash distribution on its Common Shares of $3.27 per common share
payable on January 18, 2022 to shareholders of record at the close of business on December 29, 2021.
The special cash distribution is expected to be return of capital which would reduce the shareholder’s tax
basis in its shares. The final classification of the distribution will be reported on the Form 1099-DIV related
to the 2021 tax year.
The New York Stock Exchange has advised the Company that the ex-dividend date applicable to the
distribution is expected to be January 19, 2022. However, investors are encouraged to refer to the New
York Stock Exchange (www.nyse.com/ex-date-dividends) to confirm the ex-dividend date.
Preferred Stock Repurchase
In addition, the Company repurchased all of the outstanding shares of the Company’s Series A preferred
stock from SITE Centers Corp. for an aggregate purchase price of $1.00. As a result, no further
dividends are required to be paid on the Series A preferred stock.
About RVI
RVI is an independent publicly traded company trading under the ticker symbol “RVI” on the New York
Stock Exchange. RVI holds one asset in the continental U.S. 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.
Last updated: 2024-05-18 - v1.3