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Subsequent Events | 9 Months Ended
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Sep. 30, 2014
Subsequent Events [Abstract] |
Subsequent Events |
16. | SUBSEQUENT EVENTS
In October 2014, a newly formed joint venture between a consolidated subsidiary of the Company and an affiliate of Blackstone acquired a portfolio of 71 shopping centers (“BRE DDR Retail Holdings III”), aggregating approximately 11.4 million square feet of owned-GLA for $1.93 billion. DDR invested $19.6 million in common equity and $300.0 million in preferred equity in the joint venture with a fixed preferred dividend rate of 8.5% per annum. The joint venture was funded through assumed debt of $436.8 million and new financing of $800.0 million. An affiliate of Blackstone owns 95% of the common equity of the joint venture and a consolidated subsidiary of DDR owns the remaining 5%.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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