CLEVELAND-Developers Diversified Realty has sold six shopping centers to its retail joint venture with the Australia-based Macquarie Bank Limited, for $122.7 million. The deal comes in at a 6.6% cap rate.

Three of the centers are in Texas, and there is one each in Colorado, Georgia and Kansas. Anchors at multiple centers include Bed Bath & Beyond, Kohl's and Home Depot. The assets range from 132,323 sf to 378,775 sf, the largest being Marketplace at Town Centre, in Mesquite, TX.

DDR will continue to lease, manage and operate the centers. This transaction brings the joint venture, called Macquarie DDR Trust, up to 78 properties in the US, with a total value of $2.5 billion.

DDR's last big deal with Macquarie was the September purchase of 36 Mervyns department stores for $319.1 million. The two firms are also in a deal to buy an unnamed mixed-use asset in China for which DDR will pay $40 million as part of its share.

On its own, DDR has eight projects under construction in the US totaling $480.7 million and was scheduled to start four more during the year. A joint venture separate from its union with Macquarie has three projects underway, at a cost of $117.2 million. DDR has interests in about 500 centers in 44 states and Puerto Rico.