X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CLEVELAND-The 77-year-old founder, chairman emeritus and director of Developers Diversified Realty Corp. Bert L. Wolstein, died Monday of a heart attack at Hillcrest Hospital in Mayfield Heights.Bert Wolstein founded DDR in 1965 initially to build Kmart stores, and grew it into one of the country’s largest and most successful publicly traded REITs. After the company went public in 1993, he served as its chairman until 1997. Upon his retirement from the company, he and John McGill founded Heritage Development Co., a developer and operator of shopping centers. Wolstein is the father of DDR’s current chairman and chief executive officer, Scott Wolstein. Wolstein also is survived by his wife, Iris, and his daughter, Cheryl Wolstein Faigus.”All of the employees of Developers Diversified lost a friend and inspirational leader today,” says DDR president and COO, David Jacobstein. “He will always be in our thoughts.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.