BEACHWOOD, Ohio, Jan. 24, 2012 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced Anna's Linens will open three of its first Puerto Rico stores at DDR shopping centers.

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"DDR is pleased to partner with yet another growing and innovative retailer on expansion plans for Puerto Rico. Just as we have partnered with T.J.Maxx, PetSmart and others in Puerto Rico, Anna's Linens is an exciting upgrade to the merchandise mix of our centers and will be a welcomed new choice for shoppers," said Bryan Zabell, senior vice president of anchor store leasing for DDR.

These new locations represent the most recent example of DDR's efforts to strategically reduce and reconfigure small shop space at attractive market rents with high-quality tenants.

Anna's Linens will open at the following DDR shopping centers:

Plaza Rio Hondo, a 538,000 square-foot enclosed mall in Bayamon, where Anna's Linens will occupy a formerly vacant 5,600 square-foot unit. Anna's Linens will join anchors Best Buy, Caribbean Cinemas, Marshalls and T.J.Maxx. The new store is expected to open in 2012.

Plaza del Atlantico, a 225,000 square-foot enclosed mall in Arecibo, where Anna's Linens will occupy three consolidated small shop units. Anna's Linens will join anchor Kmart in a new 11,700 square-foot store which is expected to open in 2012.

Rexville Plaza, a 132,000 square-foot shopping center in Bayamon, where Anna's Linens will occupy two consolidated small shop units. Rexville Plaza is currently undergoing a major redevelopment that includes the addition of new CVS and Marshalls stores in a space previously occupied by an underperforming Pueblo Supermarket. The new 6,800 square-foot Anna's Linens store is expected to open in early 2013.

Anna's Linens is the second retailer announced this year that DDR is partnering with to help expand into a new market. In January, DDR announced that it was partnering with Five Below in the Atlanta market.

About DDR

DDR is an owner and manager of 538 value-oriented shopping centers representing 134 million square feet in 41 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com.

Safe Harbor

DDR considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company's expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, local conditions such as oversupply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to sell assets on commercially reasonable terms; our ability to secure equity or debt financing on commercially acceptable terms or at all; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; our ability to continue to pay dividends on our common shares at the current or higher rates; and the finalization of the financial statements for the three-month period ended September 30, 2011. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company's Form 10-K for the year ended December 31, 2010. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

SOURCE DDR Corp.