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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2013

Business Combinations [Abstract]

Summary of Acquired Shopping Centers

In the nine-month period ended September 30, 2013, the Company acquired the following operating shopping centers:

Location		Date Acquired		Gross Purchase Price (in millions)				Face Value of Mortgage Debt Assumed (in millions)
Orlando, FL and Atlanta, GA		July 2013		$	258.5			$	139.4
Parcels adjacent to existing shopping centers		June 2013			11.7				N/A
Tampa, FL, Atlanta, GA, Newport News, VA and Richmond, VA (2 assets)   (A)		April 2013			110.5				N/A
Dallas, TX		March 2013			40.3				N/A
Oakland, CA		February 2013			41.1				N/A

(A) Acquired from unconsolidated joint venture.

Schedule of Acquisition Cost of Shopping Centers

The acquisition cost of the operating shopping centers was allocated as follows (in thousands):

						Weighted Average Amortization Period (in Years)
Land		$	76,915				N/A
Buildings			323,047				N/A
Tenant improvements			9,714				N/A
In-place leases (including lease origination costs and fair market value of leases)(A)			52,253				5.9
Tenant relations			25,916				7.2
			487,845
Less: Mortgage debt assumed			(148,497	)
Less: Below-market leases			(16,716	)			18.7
Net assets acquired		$	322,632

(A) Includes above-market value of leases of $6.0 million.

Consideration

Consideration:
Cash (including debt repaid at closing)		$	306,100
Fair value of previously held equity interests			16,532
Total consideration		$	322,632

Unaudited Supplemental to Pro Forma Operating Data

The following unaudited supplemental pro forma operating data is presented for the three- and nine-month periods ended September 30, 2013 and 2012, as if the acquisition of the interests in the properties acquired in 2013 and 2012 was completed on January 1, 2012 (in thousands, except per share amounts). The Gain on Change in Control related to the acquisitions from unconsolidated joint ventures was adjusted to the assumed acquisition date. The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations of the Company would have been assuming the transactions had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods.

		Three-Month Periods Ended September 30,								Nine-Month Periods Ended September 30,
		2013				2012				2013				2012
Pro forma revenues		$	220,586			$	214,349			$	658,291			$	631,873
Pro forma loss from continuing operations		$	(11,638	)		$	(10,521	)		$	(15,767	)		$	(58,757	)
Pro forma income (loss) from discontinued operations		$	9,443			$	(3,816	)		$	(2,623	)		$	(53,671	)
Pro forma net loss attributable to DDR common shareholders		$	(7,044	)		$	(27,689	)		$	(44,958	)		$	(134,111	)
Per share data:
Basic earnings per share data:
Loss from continuing operations attributable to DDR common shareholders		$	(0.05	)		$	(0.07	)		$	(0.13	)		$	(0.26	)
Income (loss) from discontinued operations attributable to DDR common shareholders			0.03				(0.01	)			(0.01	)			(0.17	)
Net loss attributable to DDR common shareholders		$	(0.02	)		$	(0.08	)		$	(0.14	)		$	(0.43	)
Diluted earnings per share data:
Loss from continuing operations attributable to DDR common shareholders		$	(0.05	)		$	(0.07	)		$	(0.13	)		$	(0.26	)
Income (loss) from discontinued operations attributable to DDR common shareholders			0.03				(0.01	)			(0.01	)			(0.17	)
Net loss attributable to DDR common shareholders		$	(0.02	)		$	(0.08	)		$	(0.14	)		$	(0.43	)

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Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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