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DDR and Madison Complete $1 Billion Recap of 52-Property Retail Portfolio

New JV Will Pursue CMBS Financing for 7 Million-SF Grocery-Anchored Portfolio

A fund managed by Madison International Realty has acquired an 80% stake in a joint venture owning a portfolio of 52 grocery-anchored shopping centers. DDR Corp. (NYSE: DDR), which owned the shopping centers in partnership with several pension funds, retains the remaining interest in the JV, DDR Domestic Retail Fund I, which has a total capitalization $1.05 billion.

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