Oct
13
DLC Makes Its Biggest Buy Ever with Retail Portfolio
ByThe 16 shopping centers total roughly 4.9 million square feet.
Home Goods at the Brook Highland Plaza, Birmingham, Ala.
Tarrytown, N.Y.—In the largest acquisition in its 25-year history, DLC Management Corp. has purchased, in a joint venture with DRA Advisors LLC, a portfolio of 16 shopping centers totaling roughly 4.9 million square feet. The purchase boosts DLC’s owned square footage by 26 percent, to about 21.7 million square feet.
The seller was DDR Corp., according to a separate announcement by HFF, which had marketed the portfolio on behalf of the former owner. HFF reported the transaction’s value as $390 million…
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