DDR Completes $127 Million in Transactions in the First Quarter

Beachwood, Ohio — The company’s share of first-quarter disposition proceeds was $35 million.

Beachwood, Ohio — During the first quarter of 2013, Beachwood-based DDR Corp. acquired two centers for $81 million in Dallas and Oakland, Calif., as well as disposed of $46 million of non-prime assets. The company’s share of first-quarter disposition proceeds was $35 million.

DDR acquired the 400,000-square-foot Marketplace at Highland Village in Dallas for $40 million. The power center is located at the intersection of Village Parkway and Justin Road. It is 90 percent leased and anchored by Walmart, T.J. Maxx, HomeGoods, LA Fitness and Office Depot.

The firm also purchased Whole Foods at Bay Place, a 57,000-square-foot center in downtown Oakland, for $41 million. The acquisitions were funded primarily with proceeds from assets sales, along with new common equity.

Tagged under