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Developers Diversified to Buy Inland Retail REIT for $6.2B

Cleveland REIT Secures Rights To Inland's portfolio of 307 Retail Centers and Single-Tenant/Net-Leased Retail Properties Totaling 43.6M Sq. Ft. and 5 Development Projects
By Jillian Ambroz
October 23, 2006 | 4:06 P.M.

Another week, another REIT merger. In the latest mega-deal, Developers Diversified Realty Corp. (NYSE: DDR) will acquire Inland Retail Real Estate Trust Inc., a public, non-traded REIT with a portfolio of shopping centers largely concentrated in the southeast, for $6.2 billion, including the assumption of about $2.3 billion in existing debt.

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