SAN JUAN, PUEROTO RICO-Beachwood, OH-based DDR Corp. plans to redevelop four shopping centers here for more than $50 million. The properties are in the cities of Bayamon, Hatillo and Carolina.

The centers will be funded with retained cash flow and capital recycled from the continued sales of non-prime assets, the company said in a statement, and should bring in returns that exceed 10%. Paul Freddo, senior EVP of leasing and development, said in the statement that the redevelopments are being driven by strong tenant demand for high-quality space. “With limited new construction on the island, our centers continue to offer a compelling choice for expanding retailers,” said Freddo.

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