DDR acquires $1.46 billion prime shopping center portfolio from Blackstone joint venture

Client(s) DDR Corp.

Jones Day advised DDR Corp. in its $1.46 billion acquisition of a portfolio of prime shopping centers from an existing joint venture with Blackstone Real Estate Partners VII.

The joint venture owned 44 shopping centers located in high quality power centers of top MSAs in the United States, and DDR executed a purchase and sale agreement to acquire Blackstone's 95% common equity interest in 30 of them. DDR funded this transaction, in part, from the issuance of common equity and unsecured debt, with respect to which Jones Day has advised DDR.

In addition to real estate representation, Jones Day provided tax advice regarding this transaction.