Listed REIT DDR Reports Minimal Damage from Irma in Puerto Rico
September 7, 2017 | James Sprow | Blue Vault
DDR Corporation (the "Company") (NYSE: DDR) announced today that upon initial inspection, the Company's shopping centers in Puerto Rico have sustained only minor damage as a result of Hurricane Irma. Beyond power outages at all properties, the scope of damage has been limited to tree and debris removal and minor roof leaks, and there appears to be no major structural damage to report.
SNL reports DDR Corporation owns 12 retail properties including three power centers, five regional malls and four shopping center properties in Puerto Rico with a combined square footage of approximately 4.7 million square feet as of June 30, 2017.
About DDR Corporation
DDR is an owner and manager of 298 value-oriented shopping centers representing 100 million square feet in 34 states and Puerto Rico. The Company owns a high-quality portfolio of open-air shopping centers in major metropolitan areas that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The Company actively manages its assets with a focus on creating long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR.