Retail Worth Inc. (NYSE: RVI) of Beachwood, the corporate fashioned to promote buying facilities owned by the previous DDR Corp., has bought a Lowe’s retailer property in Georgia for $15.6 million.
The corporate introduced in a news release late Monday, July 27, that it bought the Lowe’s on the Newnan Crossing buying heart, in Newnan, Ga., to a purchaser it didn’t establish. RVI stated within the launch that 90% of internet proceeds of the Lowe’s sale had been used to repay mortgage debt. The remaining proceeds had been retained as money.
In January, RVI sold Newnan Crossing, excluding the Lowe’s property, for $11.6 million.
RVI final summer time was spun out by SITE Facilities Corp. (NYSE: SITC), beforehand DDR, to promote retail facilities the corporate feels don’t match its future plans for redevelopment or necessity-focused retailing.
RVI nonetheless owns pursuits in 12 properties within the continental U.S. and 12 properties in Puerto Rico. The checklist of remaining disposition properties is here. Two of them are in Northeast Ohio: Nice Northern Plazas in North Olmsted and Uptown Solon.