Operations
As of September 30, 2011 the company has been successful in leasing out 93.4% of its portfolio (up from 90.7% in July 2009).
The company's portfolio primarily features open-air, value-oriented shopping centers in high barrier-to-entry markets with stable populations and high growth potential. Core tenants include Wal-Mart, Kohl's, T.J. Maxx, PetSmart, Bed Bath & Beyond, Michaels and Lowe's. As of 2011 the company operates 538 retail properties around the world.
DDR also owns 34% (down from 47.5% in 2010) of Brazilian developer Sonae Sierra Brazil which operates the 500,000 sq ft Manauara Shopping Center in the city of Manaus. The mall opened in 2010 and has a 96% occupancy rate.
Since July 1, 2009 the company has reduced its total debt by approximately 25%, or $1.4 billion. Reasons for that include: The removal from its portfolio of vacant space, 30% of the 7.5 million sq ft of empty space left behind by bankrupt tenants and a 65% decrease in development expenditures.
Read more about this topic: DDR Corp.
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