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IRRETI |
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Under the terms of the merger agreement, each outstanding common share of IRRETI was exchanged for $12. While there is a large amount of secured debt in the IRRETI portfolio today, DDR intends to pay off the vast majority (over 75%) on the $3 billion of assets it wholly own on its balance sheet, which should serve to improve the company's unencumbered asset profile and to further strengthen financial flexibility going forward. |
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