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May 16, 2013

DDR buys 30 malls in U.S. for $1.46B

BEACHWOOD, Ohio (AP) — DDR Corp. is buying 30 of 44 U.S. shopping centers from a joint venture it has with private equity firm Blackstone Group LP in a deal worth $1.46 billion, saying it expects to make money by raising rents at the malls and redeveloping them.

They include centers in Boston, Chicago, Washington and Minneapolis among others.


 
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