Undercapitalized local developers unable to complete thefinancing or leasing of their projects have approached DevelopersDiversified about investments and partnerships, said Daniel B.Hurwitz, president and COO. The results could be severalhundred-million dollars in investments.
"We have not added any projects yet, but we have a number thatlook promising," Hurwitz said. "Pending retailer interest in theprojects [at the ICSC RECon meeting] in Las Vegas, we might addsome in the second quarter."
But the moves would not be full joint ventures, and would bemore akin to an investment that could be exited at a latertime.
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