DDR Sells $198 Million of Non-Prime Assets in First Quarter 2014

Beachwood, Ohio  The non-prime operating assets sold and under contract have average base rents per square foot of less than $9.50.

Beachwood, Ohio – DDR Corp. has sold 14 non-prime assets in the first quarter of 2014 for gross proceeds of $198 million. DDR received a share of $142 million. The company also has 14 non-prime operating assets totaling $97 million and $36 million of non-income producing assets under contract. Of these sold or under contract operating assets, 22 are small format neighborhood centers or single tenant assets less than 135,000 square feet.

Scott Reid

 

 

 

 

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