sell 13 assets to a jointventure with an unnamed investor for $890 million

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Officials with DDR did not offer any reasons why the deal isdead. Company officials said in a statement that they continue "toengage in active discussions with the institutional investorconcerning assets which might be included in a potentialtransaction in 2009." A company spokesman did not return a call forcomment.

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The sale was supposed to include almost six million square feetof properties, with DDR ending up owning 20% and the partner owning80%, and was supposed to decrease leverage and fund other possiblecapital expenditures with better upsides. David Oakes, EVP offinance and CIO with DDR, said in the statement that the company isdisappointed. "We continue to access many sources of capital inorder to meet our goals of improving our liquidity and lowering ourleverage."

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The trust has made other cost-saving moves, such as forgoing itsfourth-quarter dividend to save $80 million. Financing is alsoanother DDR initiative, as it has received $34.5 million for anundisclosed asset, and $47.4 million for 12 years for itsdevelopment in Manus, Brazil. The company as also halteddevelopment plans in Russia.

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The REIT's stock was down 89 cents to $4.80 cents per share atnoon today. The trust owns and manages about 720 retail propertiesin 45 states, Puerto Rico and Brazil.

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