MIAMI—Madison International Realty and DDR sold a portfolio of nine Publix anchored shopping centers to the retail giant. The portfolio consists of 732,000 square feet of owned GLA with eight assets located in Florida and one in Georgia. The sale price was not disclosed.
“We continue to place great emphasis on our strategic partnership with DDR and our venture's proven ability to execute its business plan,” says Ronald M. Dickerman, Madison's founder and president. “We have now achieved many of our operational milestones as well as dispositions of the portfolio.”
In 2017, Madison and DDR announced a $1.05 billion recapitalization of the shopping center portfolio, which consisted originally of 52 grocery-anchored centers. Following this transaction, DDRM Properties will have 43 assets consisting of 6.3 million square feet located primarily in the Southeast US.
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