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DDR and Glimcher Realty Trust announce strategic asset swap
Columbus, Ohio -- Developers Diversified Realty and Glimcher Realty Trust announced Wednesday that the companies have entered into an agreement to swap two assets better aligned with the other’s operating platforms and strategies.
DDR will sell Glimcher its open-air mall, Town Center Plaza, in Kansas City, Kan., and Glimcher will sell DDR its power center, Polaris Towne Center, in Columbus, Ohio.
The transaction is expected to close in the fourth quarter of 2011.
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Disaster relief outlays grow with Irene aid
Target last week announced the donation $250,000 in cash and product to assist with Hurricane Irene relief efforts, pushing the total amount the company has committed to domestic disaster relief to more than $1 million. The donations will be distributed among relief agencies including The Salvation Army and the American Red Cross. In addition, Target is giving gift cards and 10,000 relief kits to other local, regional and national nonprofit organizations for such essentials as water and food.