Subsequent Events

9 Months Ended

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%.