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Gresham Station near Portland, OR, one of the 50 properties in the spin-off REIT’s portfolio.

BEACHWOOD, OHIO– Shopping center REIT DDR Corp. is moving forward with its previously-announced plan to spin off a portfolio of 50 assets into a separately publicly-traded REIT that will be called Retail Value Inc.

When the spin off was first announced last December, DDR said that the portfolio, which consists of 38 continental US assets and all of its Puerto Rico portfolio, had a combined gross book value of approximately $3 billion as of September 30, 2017. The spin-off is meant to be a significant repositioning for DDR, allowing it to concentrate its core holdings into a smaller pool that has higher growth potential, it said.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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