Developers Diversified Realty Announces Issuance Of 1.6 Million Common Shares.
Publication: PR Newswire
Publication Date: 31-DEC-02
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In Exchange for Preferred Operating Partnership Units
Developers Diversified Realty ("DDR") announced it has issued approximately 1.6 million common shares at $21.63 per share in exchange for $35 million preferred operating partnership units. The preferred operating partnership units, which yielded 8.5%, were issued to an institutional shareholder in 1998.
Developers Diversified Realty currently owns and manages over 300 shopping centers in 43 states totaling over 60 million square feet of real estate under management. DDR is a self-administered and self-managed real estate investment trust (REIT) operating as a fully integrated...
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