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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.