Developers Diversified Realty Corp (DDR) SEC Filing 10-K Annual report for the fiscal year ending Friday, December 31, 2010

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Ddr Corp
Ticker: DDR CIK: 894315

Exhibit 99.1

DEVELOPERS DIVERSIFIED REALTY CORPORATION

For Immediate Release:

DEVELOPERS DIVERSIFIED REALTY REPORTS OPERATING FFO PER
DILUTED SHARE OF $0.27 FOR THE QUARTER ENDED
DECEMBER 31, 2010

BEACHWOOD, OHIO, February 17, 2011
- Developers Diversified Realty Corporation (NYSE: DDR) today announced operating results for the fourth quarter and year ended December 31, 2010.

SIGNIFICANT FOURTH QUARTER ACTIVITY

	•		Reported operating FFO of $0.27 per diluted share, which excludes certain non-operating items

	•		Executed 396 total leases for 2.6 million square feet

	•		Increased the core portfolio leased rate to 92.3% at December 31, 2010 from 92.0% at September 30, 2010 and 91.2% at December 31, 2009

	•		Improved the spread on new leases to +8.3% and renewals to +4.8% for a blended overall spread of +5.4%, which compares to a blended spread of +5.0% in the third quarter of 2010 and -4.4% in the fourth quarter of 2009

	•		Reported Same Store Net Operating Income growth of 3.6% as compared to an increase of 2.0% in the third quarter of 2010 and a decrease of 3.5% in the fourth quarter of 2009

	•		Refinanced two senior unsecured revolving credit facilities providing $1.015 billion of borrowing capacity through February 2014

	•		Completed $163.4 million of asset sales, of which the Company’s pro-rata share was $62.8 million

	•		Issued $350 million aggregate principal amount of 1.75% convertible senior notes due November 2040

	•		Reduced consolidated indebtedness by nearly $100 million to $4.3 billion at December 31, 2010

“We are pleased to report continued positive operational trends within our portfolio, specifically as it relates to leasing momentum and rental rates, and the resulting growth in same store net operating income. Furthermore, the continued execution of our strategic objectives in the capital markets continues to improve our credit metrics, and we are keenly focused on delivering additional progress throughout 2011,” commented Developers Diversified’s president and chief executive officer, Daniel B. Hurwitz.

The following information was filed by Ddr Corp (DDR) on Friday, February 18, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

Media Contact:

Investor Contact:

Marty Richmond

mrichmond@ddr.com

kdeck@ddr.com

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