Developers Diversified Realty Corporation/DRA Advisors, Inc. form a joint venture to acquire a shopping center in San Antonio, Texas.CLEVELAND--(BUSINESS WIRE)--Jan. 29, 1997--Developers Diversified Realty Corporation (NYSE NYSE See: New York Stock Exchange :DDR (Double Data Rate) Refers to an SDRAM memory chip that increases performance by doubling the effective data rate of the frontside bus. For more details, see SDRAM. DDR - Double Data Rate Random Access Memory ) has closed on the acquisition of La Plaza Del Norte Plaza del Norte is a regional shopping mall located Hatillo, Puerto Rico. , a 296,000 square foot shopping center in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. . The shopping center is 96.6% leased and will be owned through a joint venture in which the Company will own a 35% interest. The remaining 65% interest will be owned by institutional investors advised by DRA Advisors. DDR will manage the shopping center and will receive management fee income from the joint venture. The purchase price for the shopping center approximated $38.3 million. Anchor tenants include Oshmans, Best Buy, Home Place, Ross Dress for Less, Cost Plus, Petco and Designer Shoe Warehouse. Developers Diversified Realty Corporation Developers Diversified Realty Corporation is one of the largest owners and developers of retail shopping centers in the U.S. Based in Beachwood, Ohio, an eastern suburb of Greater Cleveland, DDRC, a publicly traded company on the NYSE, leads the real estate industry in power is a self-administered and self-managed Real Estate Investment Trust operating as a fully integrated real estate company which acquires, develops, owns, leases and manages shopping centers and business centers. CONTACT: Developers Diversified Realty Corporation, Cleveland Scott A. Wolstein, 216/247-4700 |
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