Jan. 11, 2012, 3:25 AMBlackstone (BX) and DDR Corp. (DDR) have formed a JV to acquire a portfolio of 46 shopping centers for $1.43B (including debt) from an affiliate of Elbit Imaging (EMITF). Blackstone will hold a 95% stake in the venture. DDR will start a public offering of 15M shares to help finance the investment. | Jan. 11, 2012, 3:25 AM | Comment!
DDR Corp is a self-administered and self-managed REIT operating as a fully integrated real estate company. It owns and manages approximately 413 value-oriented shopping centers representing 118.1 million square feet in 41 states and Puerto Rico.
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