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DDR Plans to Buy $250M Centers, Sell $200M Non-Performing in 2013
2013-01-09 02:27:00| National Real Estate Investor
BEACHWOOD, OHMall giant DDR Corp. has released its guidance for 2013, including plans to acquire $250 million of prime shopping centers, sell $200 million of non-prime and non-income producing assets and bring $75 million of development online. Last year, the REIT, through various interests, purchased $2.1 billion of prime shopping centers and sold $347 million of non-prime operating assets. During 2012, the trust leased about11.3 million sq. ft., representing a 60 basis point improvement in the leased rate over year-end 2011, and resulting in a 94.2 percent leased rate by Dec. 31.
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