I guess we don't feel the love for Brazil any more.
DDR Corp. is the latest U.S. retail REIT to announce that it will exit its investments in the country, signing a letter of intent to sell its 50 percent ownership in Sonae Sierra Brazil BV Sarl to Alexander Otto and his affiliates for $346 million.
That's a healthy premium over DDR's original 2006 investment of $147.6 million and subsequent $52.6 million investment in 2009.
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