Retail Value Inc. closed on the sale of Tucson Spectrum in Tucson, Arizona for $84 million. Net proceeds equal to 105% of the property’s allocated loan amount were used to repay mortgage debt associated with Beachwood-based RVI with the remaining proceeds retained as cash. Subsequent to the transaction, RVI owns interests in 14 properties located in the continental U.S. and 12 properties in Puerto Rico.
