PITTSBURGH, PA, April 14, 2009(BUSINESS WIRE))--HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has been named as a co-advisor, along with Macquarie Capital Advisers Limited and UBS Securities, LLC, for a strategic review of Macquarie DDR Trust’s (“MDT”) U.S. based real estate assets and to market for sale a 52-property shopping center portfolio in 20 states owned in a subsidiary, Macquarie DDR U.S. Trust Inc.
HFF executive managing director John Pelusi, (bottom right photo) senior managing directors Barry Brown (bottom left photo) and Doug Hazelbaker (top left photo) and managing director Lynn De Marco (top right photo) will lead the HFF investment sales team on behalf of the seller, a joint venture between Macquarie DDR Trust and Developers Diversified Realty Corporation.
Investors may seek to purchase MDT’s interest (approximately 85.5%) or 100% interest of the portfolio, sub-portfolios or individual assets. As of December 31, 2008, these assets were valued at approximately $1.9 billion by MDT.
The portfolio totals 12.5 million square feet and has an average occupancy of 88.5%. Major tenants include Walmart, BJ’s Wholesale Club, Bed Bath & Beyond, Best Buy, T.J. Maxx, Kohl’s and Dick’s Sporting Goods.
Macquarie DDR Trust is a listed real estate investment trust with assets totaling $2.7 billion.
As of September 20, 2008, more than $36 billion of real estate assets are managed globally by Macquarie Group and its associates across a portfolio of listed and unlisted real estate trusts, unlisted development funds and real estate investment syndicates.
Developers Diversified Realty Corporation owns and manages more than 720 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada totaling more than 159 million square feet. Contacts:
Senior Managing Director, BARRY M. BROWN, 214-265-0880, bbrown@hfflp.com
Senior Managing Director, DOUG HAZELBAKER, 214-265-0880, dhazelbaker@hfflp.com
Managing Director, LYNN A. DEMARCO, 212-245-2425, ldemarco@hfflp.com
Associate Director, Marketing, KRISTEN M. MURPHY, 713-852-3500, krmurphy@hfflp.com
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