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Developers Diversified Realty and Macquarie DDR Trust Announce the Initial Acquisition of Assets from Benderson Development Company, Inc.

Publication: PR Newswire
Publication Date: 14-MAY-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Developers Diversified Realty Corporation announced today that it has closed on the initial acquisition of assets from Benderson Development Company, Inc. ("Benderson") for approximately $500 million. Developers Diversified acquired 31 properties totaling approximately 5.2 million square feet.

(Logo: http://www.newscom.com/cgi-bin/prnh/19990826/DDRLOGO )

Developers Diversified also announced today that Macquarie DDR Trust ("MDT"), the Company's Australian Listed Property Trust joint venture with Macquarie Bank Limited , an international investment bank and leading advisor and manager of specialized real estate funds in Australia, has acquired an ownership interest in 12 community shopping centers, which consist of...

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