DDR AND GLIMCHER CLOSE STRATEGIC ASSET SWAP

by admin

KANSAS CITY AND COLUMBUS — DDR (NYSE: DDR) and Glimcher Realty Trust (NYSE: GRT) have completed an agreement to swap two assets. Glimcher purchased the 650,000-square-foot Town Center Plaza in Kansas from DDR for $139 million. Macy's and Dick's Sporting Goods anchor the center. DDR has purchased the 700,000-square-foot Polaris Towne Center in Columbus from Glimcher for $80 million. Target, Lowe's Home Improvement, Kroger, Best Buy and T.J. Maxx anchor the center.

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