Under the purchase agreement with Burnham, the properties will be acquired for $65.4 million. Of this amount, $15.1 million will be paid in cash. At DDR's option, any or all of the remaining balance may be paid in cash or by the issuance of DDR common shares to Burnham. The transaction is expected to close in late February and the assets will be wholly owned by DDR.

DDR has agreed to purchase the retail component of 1000 Van Ness, which is a mixed-use property in downtown San Francisco. The 123,000 square foot building has been designated as a National Historic Landmark and is leased to AMC Theatres, Crunch Fitness and several restaurants. The property also includes a parking garage and residential units, which are separately owned.

DDR has also agreed to purchase Hilltop Plaza Shopping Center, a 245,000 square foot open-air community shopping center, located along Interstate 80 in Richmond, California. This center, constructed in 1996 and renovated in 2000, is anchored by Barnes & Noble, Circuit City, Ross Dress, Petsmart and a recently constructed Century Theater.