Appendix to Quarterly Financial Supplement
Property and Joint Venture Detail

For the three months ended
March 31, 2007

Investor Relations Department
3300 Enterprise Parkway • Beachwood, Ohio 44122
(216) 755-5500 • (216) 755-1500 (fax)
www.ddr.com

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

TABLE OF CONTENTS

Section	Tab
Property Listing		1.0
Joint Venture Partnership Summaries		2.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 1 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
Alabama
1 BIRMINGHAM, AL (BROOK)	BROOK HIGHLAND PLAZA 5291 HWY 280 SOUTH		35242	SC		1994/2003		1994		100.00	%		423,493		550,410		4,468,876	DICK’S SPORTING GOODS(2017), GOODY’S(2009), STEIN MART(2011), OFFICE MAX(2011), MICHAEL’S(2009), HOMEGOODS(2016), BOOKS-A-MILLION(2010), ROSS DRESS FOR LESS(2014), LOWES HOME CENTERS(NOT OWNED)
2 BIRMINGHAM, AL (EASTWOOD)	EASTWOOD FESTIVAL CENTER 7001 CRESTWOOD BLVD		35210	SC		1989/1999		1995		100.00	%		300,280		454,110		1,458,818	OFFICE DEPOT(2007), DOLLAR TREE(2009), BURLINGTON COAT FACTORY(2008), WESTERN SUPERMARKETS(NOT OWNED), HOME DEPOT(NOT OWNED)
3 BIRMINGHAM, AL(RIVER RIDGE)	RIVER RIDGE (TIAA) US HIGHWAY 280		35242	SC		2001		2007		15.00	%		172,304		349,804		2,686,271	STAPLES(2016), LINENS ‘N THINGS(2012), BEST BUY(2017)
4 BIRMINGHAM, AL(RIVERCHASE)	RIVERCHASE PROMENADE(I) MONTGOMERY HIGHWAY		35244	SC		1989		2006		14.50	%		120,108		228,416		1,729,237	MARSHALLS(2008), TOY’S R US(NOT OWNED), GOODY’S(NOT OWNED)
5 CULLMAN, AL	LOWE’S HOME IMPROVEMENT — CULL 1717 CHEROKEE AVE SW		35055	SC		1998		2007		100.00	%		101,287		101,287		682,500	LOWE’S(2015)
6 DOTHAN, AL(CIRCUIT CITY)	CIRCUIT CITY — DOTHAN 2821 MONTGOMERY HWY		36303	SC		2004		2007		100.00	%		33,906		33,906		567,926	CIRCUIT CITY(2020)
7 DOTHAN, AL(SHOPS)	SHOPS ON THE CIRCLE 3500 ROSS CLARK CIRCLE		36303	SC		2000		2007		100.00	%		149,085		149,085		1,644,599	OLD NAVY(2010), T.J. MAXX(2010), OFFICE MAX(2016)
8 FLORENCE, AL	COX CREEK SHOPPING CENTER (TIA 374-398 COX CREEK PARKWAY		35360	SC		2001		2007		15.00	%		173,989		304,870		1,831,420	BEST BUY(2017), MICHAEL’S(2011), DICK’S SPORTING GOODS(2017), LINENS ‘N THINGS(2011)
9 GADSDEN, AL	EAST SIDE PLAZA 3010-3036 E. MEIGHAN BOULEVARD		35903	SC		1979/2004		2003		100.00	%		85,196		130,899		271,508	FRED’S(2009), FOOD WORLD(NOT OWNED)
10 HUNTSVILLE, AL(WEST)	WESTSIDE CENTRE (TIAA) 6275 UNIVERSITY DR		35806	SC		2002		2007		15.00	%		475,307		526,307		5,350,380	BABIES R US(2012), MARSHALLS(2011), BED BATH & BEYOND(2012), MICHAEL’S(2011), GOODY’S(2016), DICK’S SPORTING GOODS(2017), STEIN MART(2011), ROSS DRESS FOR LESS(2013), COMPUSA(2016)
11 OPELIKA, AL	PEPPERELL CORNERS 2300-2600 PEPPERELL PARKWAY OP		36801	SC		1995		2003		100.00	%		306,224		306,224		1,506,377	LOWE’S(2012), GOODY’S(2010), STEVE & BARRY’S(2014)
12 SCOTTSBORO, AL	SCOTTSBORO MARKETPLACE 24833 JOHN P REID PARKWAY		35766	SC		1999		2003		100.00	%		40,560		223,750		455,004	GOODY’S(2011), WAL-MART(NOT OWNED)
13 TUSCALOOSA, AL	MCFARLAND PLAZA (TIAA) 2600 MCFARLAND BLD E		35404	SC		1999		2007		15.00	%		229,323		229,323		1,974,998	STEIN MART(2009), OLD NAVY(2011), CARMIKE CINEMAS(2007), CIRCUIT CITY(2020), OFFICE MAX(2015), TOYS R US(2011)
Arizona
14 AHWATUKEE, AZ	FOOTHILLS TOWNE CTR (II) 4711 EAST RAY ROAD		85044	SC		1996/1997/1999		1997		50.00	%		647,883		686,414		10,274,277	JO-ANN STORES(2010), BEST BUY(2014), AMC THEATRE(2021), BASSETT FURNITURE(2010), ASHLEY FURNITURE HOMESTORE(2011), BARNES & NOBLE(2012), BABIES R US(2007), STEIN MART(2011), ROSS DRESS FOR LESS(2012), OFFICE MAX(2012)
15 CHANDLER, AZ	MERVYN’S PLAZA 2992 NORTH ALMA SCHOOL ROAD		85224	FO		1985		2005		50.00	%		74,862		74,862		673,200	MERVYN’S(2020)
16 MESA, AZ(SUPERS)	SUPERSTITION SPRINGS CENTER 6505 E SOUTHERN AVENUE		85206	FO		1990		2005		50.00	%		86,858		86,858		1,151,580	MERVYN’S(2020)
17 PHOENIX, AZ (PEORIA)	ARROWHEAD CROSSING 7553 WEST BELL ROAD		85382	SC		1995		1996		50.00	%		346,428		416,606		4,532,592	STAPLES(2009), COMPUSA(2013), MAC FRUGAL’S(2010), BARNES & NOBLE(2011), T.J. MAXX(2011), CIRCUIT CITY(2016), DSW SHOE WAREHOUSE(2017), BASSETT FURNITURE(2009), LINENS ‘N THINGS(2011), FRY’S(NOT OWNED)
18 PHOENIX, AZ (SPE)	PHOENIX SPECTRUM MALL 1703 W. BETHANY HOME RD		85015	SC		1961		2004		20.00	%		406,692		923,968		5,317,858	COSTCO WHOLESALE(2020), ROSS DRESS FOR LESS(2013), PETSMART(2019), HARKINS THEATRE(2002), WALMART(NOT OWNED), DILLARD’S(NOT OWNED)
19 PHOENIX, AZ(DEER VALLEY)	DEER VALLEY TOWNE CENTER 2805 WEST AQUA FRIA FREEWAY		85027	SC		1996		2006		100.00	%		197,009		459,939		3,112,261	ROSS DRESS FOR LESS(2009), OFFICE MAX(2013), PETSMART(2014), MICHAEL’S(2009), AMC THEATRES(NOT OWNED), TARGET(NOT OWNED)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 2 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
20 PHOENIX, AZ(DV)	DEER VALLEY 4255 W. THUNDERBIRD ROAD		85053	FO		1979		2005		50.00	%		81,009		81,009		819,060	MERVYN’S(2020)
21 PHOENIX, AZ(PARADISE)	PARADISE VILLAGE GATEWAY TATUM & SHEA BLVDS.		85028	SC		1997/2004		2003		67.00	%		223,161		294,820		4,310,025	BED BATH & BEYOND(2011), ROSS DRESS FOR LESS(2012), PETSMART(2015), STAPLES(2010), ALBERTSONS-OSCO DRUG(NOT OWNED)
22 PHOENIX, AZ(SILVER)	SILVER CREEK PLAZA 4710 E. RAY ROAD		85044	FO		1994		2005		50.00	%		76,214		76,214		855,780	MERVYN’S(2020)
23 TUCSON, AZ	SANTA CRUZ PLAZA 3660 SOUTH 16TH AVENUE		85713	FO		1982		2005		50.00	%		76,126		76,126		513,060	MERVYN’S(2020)
Arkansas
24 FAYETTEVILLE, AR	SPRING CREEK CENTRE 464 E. JOYCE BOULEVARD		72703	SC		1997/1999/2000/2001		1997		14.50	%		262,827		590,161		3,093,826	T.J. MAXX(2011), BEST BUY(2017), GOODY’S(2013), OLD NAVY(2010), BED BATH & BEYOND(2009), WAL-MART SUPER CENTER(NOT OWNED), HOME DEPOT(NOT OWNED)
25 FAYETTEVILLE, AR(STEELE)	STEELE CROSSING 3533-3595 N. SHILOH DR		72703	SC		2003		2003		14.50	%		50,314		261,665		1,005,371	KOHL’S(NOT OWNED), TARGET(NOT OWNED)
26 N. LITTLE ROCK, AR	MCCAIN PLAZA 4124 EAST MCCAIN BOULEVARD		72117	SC		1991/2004		1994		100.00	%		295,013		295,013		1,959,563	BED BATH & BEYOND(2013), T.J. MAXX(2009), CINEMARK(2011), BURLINGTON COAT FACTORY(2014), MICHAEL’S(2014), SPORTS AUTHORITY(2013)
27 RUSSELLVILLE, AR	VALLEY PARK CENTRE 3093 EAST MAIN STREET		72801	SC		1992		1994		100.00	%		205,429		205,429		1,464,756	HOBBY LOBBY(2016), STAGE(2010), J.C. PENNEY(2012)
Brazil
28 BRASILLA	PATIO BRASIL SHOPPING SCS QUADRA 07 BL A		70307-902	SC		1997/2001		2006		4.85	%		329,630		361,814		10,592,498	LOJAS AMERICANAS(2999), OTOCH(2007), RIACHUELO(2007), C&A(NOT OWNED), RENNER(2011), CENTAURO(2007)
29 CAMPINAS (SAN PAULO)	PARQUE DOM PEDRO AV. GUILHERME CAMPOS, 500		01387-001	SC		2001		2006		48.27	%		1,367,064		1,396,587		21,271,498	LOJAS AMERICANAS(2014), CASAS BAHIA(2011), CENTAURO(2012), MARISA(2016), BIG(2021), ETNA(2015), PERNAMBUCANAS(2012), RIACHUELO(2012), C&A(NOT OWNED), ZARA(2014), RENNER(2014), FNAC(2012), LUSTRES YAMAMURA(2011), CENTER LIDER(2009),
30 ESTRADA DO CAMPO LIMPO(CLIMPO)	SHOPPING CAMPO LIMPO ESTRADA DO CAMPO LIMPO 459		05777-001	SC		2005		2006		9.32	%		215,386		215,386		1,952,987	C&A(2016), MARISA(2016), COMPRE BEM(2012), CASAS BAHIA(2011)
31 FRANCA	FRANCA SHOPPING AV. RIO NEGRO, 1100		14406-901	SC		1993		2006		30.06	%		194,454		194,454		1,408,105	C&A(2016), CASAS BAHIA(2009), MAGAZINE LUIZA(2010), LOJAS AMERICANAS(2014), C&C(2011)
32 SAO BERNARDO DO CAMPO (METROP)	SHOPPING METROPOLE PRACA SAMUEL SABATINE, 200		09750-902	SC		1980/95/97		2006		4.66	%		273,617		273,617		7,310,718	LOJAS AMERICANAS(2007), RENNER(2007)
33 SAO PAULA (PENHA)	SHOPPING PENHA RUA DR JOAO RIBEIRO, 304		03634-010	SC		1992/2004		2006		34.10	%		320,897		320,897		5,032,965	MARISA & FAMILIA(2014), SONDA(2014), LOJAS AMERICANAS(2013), KALUNGA(2010), C&A(2014)
34 SAO PAULO (BOAVISTA)	BOAVISTA SHOPPING RUA BORBA GATO, 59		04747-030	SC		2004		2006		46.61	%		279,932		279,932		3,023,762	C&A(2014), MARISA & FAMILIA(2014), SONDA(2999)
35 SAO PAULO (SUL)	PLAZA SUL PRACA LEONOR KAUPA		04151-100	SC		1994		2006		9.32	%		265,323		307,760		6,791,170	LOJAS AMERICANAS(2011), C&A(NOT OWNED), LUIGI BERTOLLI(2007), CAMICADO(2010), MONDAY ACADEMIA(2009), RENNER(2010), DEPAMERICANAS(2011), DEPOSITO VIVENDA DO CAMARAO(2007), DEP SHOEBIZ(2007)
36 SAU PAULO (TIVOLI)	TIVOLI SHOPPING AV. SANTA BARBARA, 777		13456-080	SC		1993/2006		2006		11.65	%		221,911		237,504		2,401,498	LOJAS AMERICANAS(2014), UNIMED(2010), MAGAZINE LUIZA(2008), C&A(NOT OWNED), C&C(2011), PAULISTAO(2016)
California
37 ANAHEIM, CA	ANAHEIM HILLS FESTIVAL CENTER 8100 E SANTA CANYON ROAD		92808	FO		1992		2005		50.00	%		77,883		77,883		1,301,520	MERVYN’S(2020)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 3 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
38 ANTIOCH, CA	COUNTY EAST SHOPPING CENTER 2602 SOMERSVILLE ROAD		94509	FO		1970		2005		50.00	%		75,339		75,339		1,181,160	MERVYN’S(2020)
39 BUENA PARK, CA (MALL & ENT)	BUENA PARK MALL AND ENTERTAIN 100 BUENA PARK		90620	SC		1965		2004		20.00	%		723,988		1,131,651		9,184,925	CIRCUIT CITY(2018), DSW SHOE WAREHOUSE(2013), ROSS DRESS FOR LESS(2010), BED BATH & BEYOND(2011), STEVE & BARRY’S(2014), KOHL’S(2024), KRIKORIAN PREMIER THEATRES(2023), MICHAEL’S(2014), WALMART(NOT OWNED), SEARS(NOT OWNED)
40 BURBANK, CA	BURBANK TOWN CENTER 245 E MAGNOLIA BLVD		91502	GL		1991		2005		50.00	%		89,182		89,182		1,624,860	MERVYN’S(2020)
41 CHINO, CA	CHINO TOWN SQUARE SHOPPING 5517 PHILADELPHIA		91710	FO		1986		2005		50.00	%		81,282		81,282		870,060	MERVYN’S(2020)
42 CLOVIS, CA	SIERRA VISTA MALL 1000 SHAW AVENUE		93612	GL		1988		2005		50.00	%		75,088		75,088		714,000	MERVYN’S(2020)
43 CULVER CITY, CA	CIRCUIT CITY — CULVER CITY 5660 SEPULVEDA BLVD		90230	SC		1998		2007		100.00	%		32,873		32,873		680,062	CIRCUIT CITY(2018)
44 EL CAJON, CA	WESTFIELD SHOPPING TOWN 565 FLETCHER PARKWAY		92020	GL		1989		2005		50.00	%		85,744		85,744		1,253,580	MERVYN’S(2020)
45 FAIRFIELD, CA	WESTFIELD SOLANO MALL 1451 GATEWAY BLVD.		94533	FO		1981		2005		50.00	%		89,223		89,223		1,625,880	MERVYN’S(2020)
46 FOLSOM, CA	FOLSOM SQUARE 1010 E. BIDWELL STREET		95630	FO		2003		2005		50.00	%		79,080		79,080		1,154,640	MERVYN’S(2020)
47 FOOTHILL RANCH, CA	FOOTHILLS RANCH TOWN CENTRE 26732 PORTOLA PARKWAY		92610	FO		1993		2005		50.00	%		77,934		77,934		1,050,600	MERVYN’S(2020)
48 GARDEN GROVE, CA	GARDEN GROVE CENTER 13092 HARBOR BLVD.		92843	FO		1982		2005		50.00	%		83,746		83,746		752,760	MERVYN’S(2020)
49 LANCASTER, CA (DISCOUNT)	VALLEY CENTRAL — DISCOUNT 44707-44765 VALLEY CENTRAL WAY		93536	SC		1990		2000		20.00	%		353,483		483,787		3,793,309	WAL-MART(2010), MARSHALL’S(2007), CIRCUIT CITY(2011), STAPLES(2008), CINEMARK(2017), 99 CENTS ONLY(2014), COSTCO(NOT OWNED)
50 LOMPAC, CA	MISSION PLAZA 1600 N H STREET		93436	FO		1992		2005		50.00	%		62,523		62,523		350,880	MERVYN’S(2020)
51 LONG BEACH, CA (PIKE)	THE PIKE 95 SOUTH PINE AVE		90802	SC		2005		1 *		100.00	%		220,913		254,452		3,212,761	CINEMARK(2008), BORDERS(2016), CLUB V2O(2019)
52 MADERA, CA	MADERA 1467 COUNTRY CLUB DRIVE		93638	FO		1990		2005		50.00	%		59,720		59,720		200,940	MERVYN’S(2020)
53 NORTH FULLERTON, CA	NORTH FULLERTON 200 IMPERIAL HIGHWAY		92835	FO		1991		2005		50.00	%		76,360		76,360		772,140	MERVYN’S(2020)
54 NORTHRIDGE, CA	NORTHRIDGE PLAZA 8800 CORBIN AVE		91324	LH		1980		2005		50.00	%		75,326		75,326		542,640	MERVYN’S(2020)
55 OCEANSIDE, CA.	OCEAN PLACE CINEMAS 401-409 MISSION AVENUE		92054	SC		2000		2000		100.00	%		80,450		80,450		1,261,907	REGAL CINEMAS(2014)
56 PALMDALE, CA	ANTELOPE VALLEY MALL 1305 W RANCHO VISTA BLVD.		93551	FO		1992		2005		50.00	%		76,550		76,550		829,260	MERVYN’S(2020)
57 PASADENA, CA	PASEO COLORADO 280 EAST COLORADO BLVD		91101	LC		2001		2003		100.00	%		556,961		556,961		11,283,874	GELSON’S MARKET(2021), LOEHMANN’S(2015), EQUINOX(2017), MACY’S(2010), PACIFIC THEATRES EXHIB. CORP(2016), DSW SHOE WAREHOUSE(2011), J.JILL(2012), PF CHANGS CHINA BISTRO(2016), BOMBAY COMPANY(2011), TOMMY BAHAMA(2011), SEPHORA(2011)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 4 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
58 PLEASANT HILL, CA.	DOWNTOWN PLEASANT HILL 2255 CONTRA COSTA BLVD #101		94523	SC		1999/2000		2001			20.00	%		345,930		345,930		6,896,579	ALBERTSON’S(2020), MICHAEL’S(2010), BORDERS(2015), ROSS DRESS FOR LESS(2010), BED BATH & BEYOND(2010), CENTURY THEATRE(2016)
59 PORTERVILLE, CA	PORTERVILLE MARKET PLACE 1275 WEST HENDERSON AVENUE		93257	FO		1991		2005			50.00	%		76,378		76,378		515,100	MERVYN’S(2020)
60 REDDING, CA	SHASTA CENTER 1755 HILLTOP DRIVE		96002	FO		1984		2005			50.00	%		61,363		61,363		620,160	MERVYN’S(2020)
61 RICHMOND, CA(HILLTOP)	HILLTOP PLAZA 3401 BLUME DRIVE		94803	SC		1996/2000		2002			20.00	%		245,774		245,774		3,743,781	OFFICE MAX(2011), PETSMART(2012), ROSS DRESS FOR LESS(2013), BARNES & NOBLE(2011), CIRCUIT CITY(2017), CENTURY THEATRE(2016)
62 SAN DIEGO, CA	SOUTHLAND PLAZA SHOPPING 575 SATURN BLVD.		92154	FO		1982		2005			50.00	%		75,207		75,207		1,013,880	MERVYN’S(2020)
63 SAN DIEGO, CA (COLLEGE)	COLLEGE GROVE SHOPPING CENTER 3450 COLLEGE AVENUE		92115	FO		1991		2005			50.00	%		73,872		73,872		863,505	MERVYN’S(2021)
64 SAN FRANCISCO, CA (RETAILS)	VAN NESS PLAZA 215 1000 VAN NESS AVENUE		94109	SC		1998		2002			100.00	%		123,755		123,755		3,797,368	AMC THEATRE(2030), CRUNCH FITNESS(2008)
65 SANTA MARIA, CA	TOWN CENTER WEST SHOPPING 201 TOWN CENTER WEST		93458	FO		1988		2005			50.00	%		84,886		84,886		762,960	MERVYN’S(2020)
66 SANTA ROSA, CA	SANTA ROSA PLAZA 600 SANTA ROSA PLAZA		95401	FO		1981		2005			50.00	%		90,348		90,348		1,526,940	MERVYN’S(2020)
67 SLATTEN RANCH, CA	SLATTEN RANCH SHOPPING CENTER 5849 LONE TREE WAY		94531	FO		2002		2005			50.00	%		78,819		78,819		1,328,040	MERVYN’S(2020)
68 SONORA, CA	SONORA CROSSROAD SHOPPING 1151 SANGUINETTI ROAD		95370	FO		1993		2005			50.00	%		62,214		62,214		733,380	MERVYN’S(2020)
69 TULARE, CA	ARBOR FAIRE SHOPPING CENTER 1675 HILLMAN STREET		93274	FO		1991		2005			50.00	%		62,947		62,947		566,100	MERVYN’S(2020)
70 UKIAH, CA	UKIAH 437 NORTH ORCHARD AVENUE		95482	FO		1990		2005			50.00	%		58,841		58,841		330,480	MERVYN’S(2020)
71 VALENCIA, CA	MERVYNS VALENCIA 24235 MAGIC MOUNTAIN PKWY		91355	SC		1986		2006			100.00	%		75,590		75,590		951,000	MERVYN’S(2035)
72 WEST COVINA, CA	WEST COVINA SHOPPING CENTER 2753 E. EASTLAND CTR DR		91791	GL		1979		2005			50.00	%		79,800		79,800		1,545,300	MERVYN’S(2020)
Colorado
73 ALAMOSA, CO	ALAMOSA PLAZA 145 CRAFT DRIVE		81101	SC		1986		1/2	*		100.00	%		19,875		161,924		76,417	BIG “R”(NOT OWNED), CITY MARKET, INC.(NOT OWNED)
74 AURORA, CO	PIONEER HILLS 5400-5820 SOUTH PARKER		80012	SC		2003		2003			14.50	%		127,215		479,541		2,417,268	BED BATH & BEYOND(2012), OFFICE DEPOT(2017), WAL-MART(NOT OWNED), HOME DEPOT(NOT OWNED)
75 BROOMFIELD, CO (FLATIRON GARD)	FLATIRON MARKETPLACE GARDEN 1 WEST FLATIRON CIRCLE		80021	SC		2001		2003			100.00	%		245,182		421,447		5,038,630	NORDSTROM RACK(2011), LINENS ‘N THINGS(2017), BEST BUY(2016), OFFICE DEPOT(2016), GREAT INDOORS(NOT OWNED)
76 DENVER, CO (CENTENNIAL)	CENTENNIAL PROMENADE 9555 E. COUNTY LINE ROAD		80223	SC		1997/2002		1997			100.00	%		408,337		529,488		6,859,446	GOLFSMITH GOLF CENTER(2012), SOUNDTRACK(2017), ROSS DRESS FOR LESS(2008), OFFICE MAX(2012), MICHAEL’S(2007), TOYS R US(2011), BORDERS(2017), LOEHMANN’S(2012), RECREATIONAL EQUIPMENT(NOT OWNED), HOME DEPOT(NOT OWNED)
77 DENVER, CO (TAMARAC)	TAMARAC SQUARE 7777 E. HAMPDEN		80231	SC		1976		2001			100.00	%		174,780		196,580		1,975,692	REGENCY THEATRES TAMARAC SQ.(2008)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 5 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
78 DENVER, CO (UNIVERSITY)	UNIVERSITY HILLS 2730 SOUTH COLORADO BOULEVARD		80222	SC		1997		2003			100.00	%		244,383		244,383		4,113,771	LINENS ‘N THINGS(2013), PIER 1 IMPORTS(2014), OFFICE MAX(2012), KING SOOPERS(2017)
79 FORT COLLINS, CO	MULBERRY AND LEMAY CROSSINGS MULBERRY ST. & S. LEMAY AVE.		80525	SC		2004		2003			100.00	%		18,988		316,420		426,662	WAL-MART(NOT OWNED), HOME DEPOT(NOT OWNED)
80 HIGHLAND RANCH, CO	CIRCUIT CITY — HIGHLAND RANCH 8575 SOUTH QUEBEC ST		80130	SC		1998		2007			100.00	%		43,480		43,480		443,625	CIRCUIT CITY(2018)
81 LITTLETON, CO	ASPEN GROVE 7301 SOUTH SANTA FE		80120	LC		2002		1 *			100.00	%		231,450		255,184		6,676,938	COLDWATER CREEK(2011), TALBOTS(2012),ANN TAYLOR(2012), J.CREW(2012), BANANA REPUBLIC(2012), GAP(2012), WILLIAMS-SONOMA(2014), J.JILL(2012), BOMBAY COMPANY(2012), PIER 1 IMPORTS(2011), JOSEPH A. BANK CLOTHERS(2012), BUCA di BEPPO(2013), CHAMPPS(2022),POTTERY BARN(2014)
82 PARKER, CO (PAVILIONS)	PARKER PAVILIONS 11153-11183 SOUTH PARKER ROAD		80134	SC		2003		2003			14.50	%		89,631		409,897		1,592,497	OFFICE DEPOT(2016), WAL-MART(NOT OWNED), HOME DEPOT(NOT OWNED)
83 PARKER, CO(FLATACRES)	FLATACRES MARKETCENTER SOUTH PARKER ROAD		80134	SC		2003		2003			14.50	%		116,644		221,520		2,039,793	BED BATH & BEYOND(2014), GART SPORTS(2014), MICHAEL’S(2013), KOHL’S(NOT OWNED)
Connecticut
84 MANCHESTER, CT	MANCHESTER BROAD STREET 286 BROAD STREET		06040	SC		1995/2003		2007			100.00	%		68,509		68,509		1,019,564	STOP & SHOP(2028)
85 PLAINVILLE, CT	CONNECTICUT COMMONS I-84 & RTE 9		06062	SC		1999/2001		1 *			14.50	%		463,394		566,537		6,095,840	LOWE’S(2019), KOHL’S(2022), DSW SHOE WAREHOUSE(2015), DICK’S SPORTING GOODS(2020), PETSMART(2015), A.C. MOORE(2014), OLD NAVY(2011), LINENS ‘N THINGS(2017), PLAINVILLE THEATRE(NOT OWNED)
86 WATERBURY, CT	NAUGATUCK VALLEY SHOPPING CENT 950 WOLCOTT STREET		06705	SC		2003		2007			15.00	%		232,085		383,332		4,349,070	BOB’S STORES(2017), LINENS ‘N THINGS(2017), STOP & SHOP(2021), STAPLES(2018)
87 WINDSOR COURT, CT	WINDSOR COURT SHOPPING CENTER 1095 KENNEDY ROAD		06095	SC		1993		2007			100.00	%		78,480		78,480		1,359,283	STOP & SHOP(2013)
Florida
88 APOPKA, FL	PIEDMONT PLAZA 2302-2444 E SEMORAN BLVD		32703	SC		2004		2007			100.00	%		148,075		148,075		1,133,158	BEALL’S(2019)
89 BAYONET POINT, FL	POINT PLAZA US 19 & SR 52		34667	SC		1985/2003		1/2	*		100.00	%		209,714		209,714		1,368,254	PUBLIX SUPER MARKETS(2010), BEALL’S(2014), T.J. MAXX(2010)
90 BOYNTON BEACH, FL	MEADOWS SQUARE HYPOLUXO RD N. CONGRESS AVE.		33461	SC		1986		2004			100.00	%		106,224		106,224		1,418,620	PUBLIX SUPER MARKETS(2011)
91 BOYNTON BEACH, FL(ABERDEEN)	ABERDEEN SQUARE 4966 LE CHALET BLVD		33426	SC		1990		2007			100.00	%		70,555		70,555		780,900	PUBLIX SUPER MARKETS(2010)
92 BOYNTON BEACH, FL(COMMONS)	BOYNTON COMMONS (TIAA) 333-399 CONGRESS AVE		33426	SC		1998		2007			15.00	%		210,488		210,488		3,143,767	BARNES & NOBLE(2013), PETSMART(2014), SPORTS AUTHORITY(2013), BED BATH & BEYOND(2014)
93 BOYNTON BEACH, FL(VILLAGE)	VILLAGE SQUARE AT GOLF 3775 W WOOLBRIGHT RD		33436	SC		1983/2002		2007			100.00	%		126,486		131,466		2,324,947	PUBLIX SUPER MARKETS(2008)
94 BRADENTON, FL(CORTEZ)	CORTEZ PLAZA CORTEZ ROAD WEST AND US HIGHWAY 41		34207	SC		1966/1988		2007			100.00	%		289,045		289,045		2,855,253	PUBLIX SUPER MARKETS(2008), BURLINGTON COAT FACTORY(2013), PETSMART(2007), CIRCUIT CITY(2010)
95 BRADENTON, FL(CREEKWOOD)	CREEKWOOD CROSSING 7395 52ND PLACE EAST		34203	SC		2001		2007			100.00	%		180,746		284,085		2,457,359	BEALL’S(2016), BEALL’S OUTLET(2014), LIFESTYLE FAMILY FITNESS(2014)
96 BRADENTON, FL(LAKEWOOD)	LAKEWOOD RANCH 1755 LAKEWOOD RANCH BLVD		34211	SC		2001		2007			100.00	%		69,471		69,475		771,048	PUBLIX SUPER MARKETS(2021)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 6 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
97 BRANDON, FL	BRANDON BLVD SHOPPES 1930 SR 60 E.		33594	SC		1994		2007			100.00	%		85,377		85,377		958,318	PUBLIX SUPER MARKETS(2014)
98 BRANDON, FL (KMART)	KMART SHOPPING CENTER 1602 BRANDON BL		33511	SC		1972/1997/2003		2 *			100.00	%		161,900		228,022		790,607	K MART(2012), KANE FURNITURE(NOT OWNED)
99 BRANDON, FL (PLAZA)	LAKE BRANDON PLAZA CAUSEWAY BOULEVARD		33511	SC		1999		2003			14.50	%		148,267		196,801		1,908,465	COMPUSA(2017), JO-ANN STORES(2017), PUBLIX SUPER MARKETS(2019), BABIES R US(NOT OWNED)
100 BRANDON, FL (VILLAGE)	LAKE BRANDON VILLAGE CAUSEWAY BOULEVARD		33511	SC		1997/2004		2003			14.50	%		113,986		243,641		1,486,624	LINENS ‘N THINGS(2014), SPORTS AUTHORITY(2018), PETSMART(2020), LOWE’S(NOT OWNED)
101 BRANDON, FL(ALBERTSONS)	ALBERTSONS AT BLOOMINGDALE HIL 10817-10863 BLOOMING DALE AVENUE		33569	SC		2002		2007			100.00	%		17,400		89,266		590,459
102 BRANDON, FL(LITHIA)	SHOPPES OF LITHIA 3461 LITHIA PINECRES T ROAD		33594	SC		2003		2007			100.00	%		71,430		71,430		1,196,238	PUBLIX SUPER MARKETS(2023)
103 CASSELBERRY, FL	CASSELBERRY COMMONS 1455 S. SEMORAN BLVD		32707	SC		1973/1998		2007			100.00	%		248,176		248,176		2,023,127	PUBLIX SUPER MARKETS(2007), ROSS DRESS FOR LESS(2013), STEIN MART(2015), PUBLIX SUPER MARKETS(2009)
104 CITRUS HILLS, FL	CITRUS HILLS 2601 FOREST RIDGE BLVD		34442	SC		1994/2003		2007			100.00	%		68,927		68,927		752,805	PUBLIX SUPER MARKETS(2014)
105 CLEARWATER, FL	CLEARWATER COLLECTION 21688-21800 US HWY19 NORTH		33765	SC		1995/2005		2007			100.00	%		132,023		132,023		1,812,000	LA FITNESS INTERNATIONAL(2022), FLOOR & DECOR(2017)
106 CRYSTAL RIVER, FL	CRYSTAL SPRINGS SHOPPING CENTE 6760 W GULF TO LAKE		34429	SC		2001		2007			100.00	%		66,986		66,986		749,240	PUBLIX SUPER MARKETS(2021)
107 CRYSTAL RIVER, FL (RIVER)	CRYSTAL RIVER PLAZA 420 SUN COAST HWY		33523	SC		1986/2001		1/2	*		100.00	%		160,135		160,135		772,106	BEALL’S(2012), BEALL’S OUTLET(2011)
108 DANIA BEACH, FL	BASS PRO OUTDOOR WORLD 200 GULF STREAM WAY		33004	SC		1999		2007			100.00	%		165,000		165,000		1,600,000	BASS PRO OUTDOOR WORLD(2014)
109 DANIA, FL	SHERIDAN SQUARE 401-435 E. SHERIDAN STREET		33004	SC		1991		2007			100.00	%		67,475		67,475		828,209	PUBLIX SUPER MARKETS(2011)
110 DAVIE, FL	PARADISE PROMENADE 5949-6029 STIRLING ROAD		33314	SC		2004		2007			100.00	%		70,271		70,271		901,583	PUBLIX SUPER MARKETS(2023)
111 DAYTONA BEACH, FL	VOLUSIA 1808 W. INTERNATIONAL SPEEDWAY		32114	SC		1984		2001			100.00	%		76,087		76,087		933,847	MARSHALLS(2010)
112 DAYTONA BEACH, FL(KB HOMES)	KB HOMES 1610 W INTERNATIONAL SPEEDWAY PARKWAY		32114	SC		1998		2007			100.00	%		22,255		22,255		210,000	KB HOMES(2010)
113 DAYTONA BEACH, FL(PETSMART)	PETSMART — DAYTONA BEACH 1900 W INTERNATIONAL SPEEDWAY PARKWAY		32114	SC		1996		2007			100.00	%		26,194		26,194		359,664	PETSMART(2021)
114 DEERFIELD BEACH, FL	HILLSBORO SQUARE (TIAA) HILLSBORO BLVD & HIGHWAY ONE		33441	SC		1978/2002		2007			15.00	%		145,472		154,232		1,945,121	PUBLIX SUPER MARKETS(2022)
115 ENGLEWOOD, FL	ROTONDA PLAZA 5855 PLACIDA ROAD		34224	SC		1991		2004			100.00	%		46,835		46,835		452,756	KASH N KARRY(2011)
116 FT. MEYERS, FL	MARKET PLACE (TIAA) 13300 SOUTH CLEVELAND AVENUE		33919	SC		2004		2007			15.00	%		107,445		107,445		1,707,626	AMERICAN SIGNATURE(2014), TOTAL WINE & MORE(2016), DSW SHOE WAREHOUSE(2016)
117 FT. MEYERS, FL(CYPRESS)	CYPRESS TRACE (TIAA) CYPRESS LAKE DRIVE & US 41		33907	SC		2004		2007			15.00	%		276,288		276,288		2,759,225	BEALL’S(2010), STEIN MART(2013), BEALL’S OUTLET(2010), ROSS DRESS FOR LESS(2012)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 7 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
118 FT. WALTON BEACH, FL	SHOPPES AT PARADISE POINTE US HWY 98 AND PERRY AVE		32548	SC		1987/2000		2007			100.00	%		83,929		83,929		1,076,914	PUBLIX SUPER MARKETS(2021)
119 GULF BREEZE, FL	GULF BREEZE MARKETPLACE 3749-3767 GULF BREEZE PARKWAY		32561	SC		1998		2003			100.00	%		29,827		333,654		417,288	LOWE’S(NOT OWNED), WAL-MART(NOT OWNED)
120 HIALEAH, FL	PARAISO PLAZA 3300-3350 W. 80TH ST		33018	SC		1997		2007			100.00	%		60,712		60,712		872,755	PUBLIX SUPER MARKETS(2017)
121 JACKSONVILLE, FL	JACKSONVILLE REGIONAL 3000 DUNN AVENUE		32218	SC		1988		1995			100.00	%		219,735		295,752		1,395,630	J.C. PENNEY(2012), WINN DIXIE STORES(2009)
122 JACKSONVILLE, FL(ARLINGTON RD)	ARLINGTON ROAD PLAZA 926 ARLINGTON ROAD		32211	SC		1990/1999		2004			100.00	%		182,098		182,098		916,764	FOOD LION(2010)
123 KISSIMMEE, FL(COLUMBIA)	COLUMBIA PROMENADE 1251-63 W COLUMBIA		34741	SC		2000		2007			100.00	%		65,883		67,201		823,437	PUBLIX SUPER MARKETS(2020)
124 KISSIMMEE, FL(CVS)	CVS PHARMACY #5040-01 3300 S. ORANGE BLOSSOM TRAIL		34746	SC		1997		2007			100.00	%		9,504		9,504		220,316
125 KISSIMMEE, FL(LAKEVIEW)	LAKEVIEW PLAZA 2310 FORTUNE ROAD		34744	SC		1998		2007			100.00	%		54,788		54,788		598,199	PUBLIX SUPER MARKETS(2017)
126 LAKE MARY, FL	SHOPPES AT LAKE MARY (TIAA) 4155 WEST LAKE MARY BLVD		32746	SC		2001		2007			15.00	%		73,343		74,331		1,792,910	STAPLES(2015)
127 LAKE WALES, FL	SHOPPES ON THE RIDGE HIGHWAY 27 & CHALET SUZANNE ROAD		33859	SC		2003		2007			100.00	%		115,671		115,671		1,463,954	PUBLIX SUPER MARKETS(2023)
128 LAKELAND, FL (HIGHLANDS)	HIGHLANDS PLAZA SHOPPING CTR 2228 LAKELANDS HIGHLAND ROAD		33803	SC		1990		2004			100.00	%		102,572		102,572		803,907	WINN DIXIE STORES(2017)
129 LARGO, FL	COLONIAL PROMENADE BARDMOOR CE 10801 STARKEY ROAD		33777	SC		1991		2007			100.00	%		152,667		165,607		1,849,991	PUBLIX SUPER MARKETS(2011)
130 LAUDERHILL, FL	UNIVERSAL PLAZA (TIAA) 7730 WEST COMMERCIAL		33351	SC		2002		2007			15.00	%		49,505		49,505		1,074,329
131 MARIANNA, FL	THE CROSSROADS 2814-2822 HIGHWAY 71		32446	SC		1990		1/2	*		100.00	%		63,894		63,894		299,740	BEALL’S(2008)
132 MELBOURNE, FL	MELBOURNE SHOPPING CENTER 1301-1441 S BABCOCK		32901	SC		1960/1999		2007			100.00	%		204,217		204,218		1,402,863	BIG LOTS(2009), PUBLIX SUPER MARKETS(2019)
133 MIAMI, FL	THE SHOPS OF MIDTOWN 3401 N. MIAMI AVENUE		33127	SC		2006		1 *			100.00	%		266,802		266,802		1,558,056	CIRCUIT CITY(2022), LINENS ‘N THINGS(2017), MARSHALLS(2017), TARGET(2027), WEST ELM(2019)
134 MIAMI, FL(PARAISO)	PLAZA DEL PARAISO 12100 SW 127TH AVE		33186	SC		2003		2007			100.00	%		82,441		82,441		1,283,059	PUBLIX SUPER MARKETS(2023)
135 MIRAMAR, FL	RIVER RUN MIRAMAR PARKWAY AND PALM AVENUE		33025	SC		1989		2007			100.00	%		93,643		106,828		1,138,032	PUBLIX SUPER MARKETS(2009)
136 NAPLES, FL	CARILLON PLACE 5010 AIRPORT ROAD NORTH		33942	SC		1994		1995			14.50	%		267,808		283,208		2,956,472	WAL-MART(2014), T.J. MAXX(2009), CIRCUIT CITY(2015), ROSS DRESS FOR LESS(2010), BEALL’S(2009), OFFICE MAX(2010)
137 NAPLES, FL(COUNTRY)	COUNTRYSIDE 4025 SANTA BARBARA		34104	SC		1997		2007			100.00	%		73,986		73,986		824,087	WINN DIXIE STORES(2017)
138 NEW TAMPA, FL	NEW TAMPA COMMONS BRUCE B DOWNS & DONNA MICHELLE		33647	SC		2005		2007			100.00	%		10,000		10,000		329,960

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 8 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
139 NEWPORT RICHEY, FL	SHOPPES OF GOLDEN ACRES 9750 LITTLE ROAD		34654	SC		2002		2007			100.00	%		143,289		143,289		1,916,360	PUBLIX SUPER MARKETS(2022)
140 OCALA, FL	STEEPLECHASE PLAZA 8585 STATE ROAD 200		34481	SC		1993		2007			100.00	%		92,180		92,180		1,007,655	PUBLIX SUPER MARKETS(2013)
141 OCALA, FL(WEST)	OCALA WEST 2400 SW COLLEGE ROAD		32674	SC		1991		2003			100.00	%		101,477		101,477		838,799	SPORTS AUTHORITY(2012), HOBBY LOBBY(2016)
142 OCOEE, FL(LAKE OLYMPIA)	LAKE OLYMPIA SQUARE 1501 E SILVERSTAR RD		34761	SC		1995		2007			100.00	%		87,456		87,456		1,328,822	WINN DIXIE STORES(2015)
143 OCOEE, FL(WEST OAKS)	WEST OAKS TOWNE CENTER 9537-49 W. COLONIAL		34761	SC		2000		2007			100.00	%		66,539		111,623		1,146,462	MICHAEL’S(2010)
144 ORANGE PARK, FL (THE VILLAGE)	THE VILLAGE SHOPPING CENTER 950 BLANDING BOULEVARD		32065	SC		1993/2000		2004			100.00	%		72,531		135,473		695,320	BEALL’S(2009), ALBERTSON’S(NOT OWNED)
145 ORLANDO, FL(BRIDGEWATER)	BRIDGEWATER MARKETPLACE 13180 E. COLONIAL DR		32826	SC		1998		2007			100.00	%		57,960		57,960		594,879	WINN DIXIE STORES(2018)
146 ORLANDO, FL(CHICKASAW)	CHICKASAW TRAILS SHOPPING CENT 2300 S. CHICKASAW TR		32825	SC		1994		2007			100.00	%		75,492		76,067		815,021	PUBLIX SUPER MARKETS(2014)
147 ORLANDO, FL(CIRCUIT)	CIRCUIT CITY PLAZA (TIAA) GOOD HOMES ROAD AND COLONIAL DRIVE		32818	SC		1999		2007			15.00	%		78,625		78,625		1,653,333	STAPLES(2015), CIRCUIT CITY(2020)
148 ORLANDO, FL(CONWAY)	CONWAY PLAZA 4400 CURRY FORD ROAD		32812	SC		1985/1999		2007			100.00	%		117,723		117,723		1,171,245	PUBLIX SUPER MARKETS(2019)
149 ORLANDO, FL(SAND)	SAND LAKE CORNERS (TIAA) 8111-8481 JOHN YOUNG PARKWAY		32819	SC		1998/2000		2007			15.00	%		189,721		207,431		2,255,863	BEALL’S(2014), PETSMART(2014), STAPLES(2014)
150 ORLANDO, FL(SKYVIEW)	SKYVIEW PLAZA 7801 ORANGE BLOSSOM TRAIL		32809	SC		1994/1998		2007			100.00	%		281,244		281,244		2,749,873	PUBLIX SUPER MARKETS(2008), OFFICE DEPOT(2008), K MART(2009), CIRCUIT CITY(2008)
151 ORMOND BEACH, FL	ORMOND TOWNE SQUARE 1458 WEST GRANADA BLVD		32174	SC		1993		1994			100.00	%		234,042		234,042		1,954,539	BEALL’S(2018), ROSS DRESS FOR LESS(2016), PUBLIX SUPER MARKETS(2013)
152 OVIEDO, FL	OVIEDO PARK CROSSING RTE 417 & RED BUG LAKE ROAD		32765	SC		1999		1 *			20.00	%		186,212		321,249		2,020,892	OFFICE MAX(2014), ROSS DRESS FOR LESS(2010), MICHAEL’S(2009), T.J. MAXX(2010), LINENS ‘N THINGS(2011), LOWE’S(NOT OWNED)
153 PALM BEACH GARDENS, FL	NORTHLAKE COMMONS NORTHLAKE BLVD		33403	SC		1987/2003		2007			100.00	%		144,435		147,277		1,781,008	ROSS DRESS FOR LESS(2014)
154 PALM HARBOR, FL	THE SHOPPES OF BOOT RANCH 300 EAST LAKEROAD		34685	SC		1990		1995			100.00	%		52,395		229,188		973,906	ALBERTSON’S(NOT OWNED), TARGET(NOT OWNED)
155 PALM HARBOR, FL(BROOKER)	PUBLIX BROOKER CREEK 36301 E.LAKE ROAD		34685	SC		1994		2007			100.00	%		77,596		77,596		1,031,619	PUBLIX SUPER MARKETS(2014)
156 PEMBROKE PINES, FL	FLAMINGO FALLS 2000-2216 N.FLAMINGO ROAD		33028	SC		2001		2007			100.00	%		108,565		108,565		2,286,975
157 PENSACOLA, FL	PALAFOX SQUARE 8934 PENSACOLA BLVD		32534	SC		1988/1997/1999		1/2	*		100.00	%		17,150		236,892		244,697	WALMART(NOT OWNED)
158 PLANT CITY, FL	PLANT CITY CROSSING SWC OF INTERSTATE 4 & THONOTOSASSA ROAD		33563	SC		2001		2007			100.00	%		85,252		85,252		1,119,178	PUBLIX SUPER MARKETS(2021)
159 PLANT CITY, FL(LAKE)	LAKE WALDEN SQUARE 105-240 W ALEXANDER		33566	SC		1992		2007			100.00	%		261,897		261,897		1,593,588	KASH N KARRY(2012), CINEMA 8(2007)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 9 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
160 PLANTATION, FL(FOUNTAINS)	FOUNTAINS 801 SOUTH UNIVERSITY DRIVE		33324	SC		1989		2007			100.00	%		283,273		349,413		5,775,035	MARSHALLS(2009)
161 PLANTATION, FL(VISION)	VISION WORKS 801 SOUTH UNIVERSITY DRIVE		33324	SC		1989		2007			100.00	%		6,891		6,891		159,170
162 SANTA ROSA, FL	WATERCOLOR CROSSING 110 WATERCOLOR WAY		32459	SC		2003		2007			100.00	%		43,200		43,200		602,832	PUBLIX SUPER MARKETS(2024)
163 SARASOTA, FL	SARASOTA PAVILION (TIAA) 6511 TAMAIMI TRAIL		34231	SC		1999		2007			15.00	%		324,211		336,177		3,795,335	STEIN MART(2009), PUBLIX SUPER MARKETS(2010), MICHAEL’S(2009), OLD NAVY(2010), MARSHALLS(2013), BED BATH & BEYOND(2015), ROSS DRESS FOR LESS(2012), BOOKS-A- MILLION(2011)
164 SILVER SPRINGS SHORES, FL	HEATHER ISLAND PLAZA 7878 SE MARICAMP		34472	SC		2005		2007			100.00	%		72,170		72,170		738,651	PUBLIX SUPER MARKETS(2020)
165 SPRING HILL, FL	MARINER SQUARE 13050 CORTEZ BLVD.		34613	SC		1988/1997		1/2	*		100.00	%		188,347		392,423		1,631,084	BEALL’S(2011), ROSS DRESS FOR LESS(2014), WALMART(NOT OWNED)
166 ST. PETERSBURG, FL(GATEWAY)	GATEWAY MARKET CENTER (TIAA) 7751-8299 9TH ST N		33702	SC		2000		2007			15.00	%		231,106		353,106		2,070,293	T.J. MAXX(2008), PUBLIX SUPER MARKETS(2019), BEALL’S(2021), PETSMART(2013), OFFICE DEPOT(2014)
167 TALLAHASSEE, FL	CAPITAL WEST 4330 WEST TENNESSEE STREET		32312	SC		1994/2004		2003			100.00	%		58,386		231,035		456,499	BEALL’S OUTLET(2009), WAL-MART(NOT OWNED)
168 TALLAHASSEE, FL(KILLEARN)	KILLEARN SHOPPING CENTER 3479-99 THOMASVILLE ROAD		32309	SC		1980		2007			100.00	%		95,229		95,229		1,126,460	PUBLIX SUPER MARKETS(2011)
169 TALLAHASSEE, FL(SOUTHWOOD)	SOUTHWOOD PLANTATION NWC CAPITAL CIRCLE & BLAIRSTONE ROAD		32301	SC		2003		2007			100.00	%		62,840		62,840		745,183	PUBLIX SUPER MARKETS(2023)
170 TAMARAC, FL	MIDWAY PLAZA UNIVERSITY DR & COMMERCIAL BLVD		33321	SC		1985		2007			100.00	%		227,209		227,209		2,828,623	ROSS DRESS FOR LESS(2013), PUBLIX SUPER MARKETS(2011)
171 TAMPA, FL (DALE)	NORTH POINTE PLAZA 15001-15233 NORTH DALE MABRY		33618	SC		1990		1/2	*		20.00	%		104,460		222,388		1,312,663	PUBLIX SUPER MARKETS(2010), WALMART(NOT OWNED)
172 TAMPA, FL (HORIZON PARK)	HORIZON PARK SHOPPING CENTER 3908 WEST HILLSBOROUGH HIGHWAY		33614	SC		1987/2003		2004			100.00	%		215,713		215,713		1,766,067	NORTHERN TOOL(2015), BABIES R US(2008), OFFICE DEPOT(2016), PEARL ARTIST & CRAFT SUPPLY(2007)
173 TAMPA, FL (PALM)	POINTE AT TAMPA PALM 17004-17030 PALM POINTE DRIVE		33647	SC		2003		2007			100.00	%		22,898		29,348		473,172
174 TAMPA, FL (WALKS)	WALKS AT HIGHWOOD PRESERVE I ( 18001 HIGHWOODS PRESERVE PARKWAY		33647	SC		2001		2007			15.00	%		169,081		178,981		3,620,963	MICHAEL’S(2012), LINENS ‘N THINGS(2017), CIRCUIT CITY(2017)
175 TAMPA, FL (WATERS)	TOWN N’ COUNTRY 7021-7091 WEST WATERS AVENUE		33634	SC		1990		1/2	*		100.00	%		132,993		248,374		1,077,174	BEALL’S(2007), KASH N KARRY(2010), WALMART(NOT OWNED)
176 TARPON SPRINGS, FL	TARPON SQUARE 41232 U.S. 19, NORTH		34689	SC		1974/1998		1/2	*		100.00	%		198,797		199,447		1,409,808	K MART(2009), BIG LOTS(2012), STAPLES(2013)
177 TEQUESTA, FL	TEQUESTA SHOPPES PLAZA 105 N US HWY 1		33469	SC		1986		2007			100.00	%		110,105		110,105		617,383
178 VERO BEACH, FL	CIRCUIT CITY — VERO BEACH 6560 20TH STREET		32966	SC		2001		2007			100.00	%		33,243		33,243		530,000	CIRCUIT CITY(2021)
179 WESLEY CHAPEL, FL	SHOPPES AT NEW TAMPA 1920 CR 581		33543	SC		2002		2007			100.00	%		158,222		158,222		2,124,624	PUBLIX SUPER MARKETS(2022), BEALL’S(2017)
180 WEST PALM BEACH, FL	PARADISE PLACE (TIAA) 4075 N. HAVERHILL RD		33417	SC		2003		2007			15.00	%		89,120		89,120		1,037,221	PUBLIX SUPER MARKETS(2023)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 10 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
181 WEST PASCO, FL	PASCO SQUARE 7201 COUNTY ROAD 54		34653	SC		1986		1/2	*		100.00	%		135,421		215,661		823,003	BEALL’S OUTLET(2013), DOLLAR GENERAL(2016), WALMART(NOT OWNED)
182 WINTER PARK, FL(BANK)	BANK FIRST AT WINTER PARK 4270 ALOMA AVENUE		32792	SC		1990		2007			100.00	%		3,348		3,348		71,411
183 WINTER PARK, FL(GOLDENROD)	GOLDENROD GROVES 4270 ALOMA AVENUE		32792	SC		1985/1998		2007			100.00	%		108,944		108,944		1,091,134	PUBLIX SUPER MARKETS(2010)
184 ZEPHYRHILLS, FL	MERCHANTS SQUARE 7333-7407 GALL BLVD		33541	SC		1993		2007			100.00	%		74,837		74,837		557,294	KASH N KARRY(2013)
Georgia
185 ACWORTH, GA	ACWORTH AVENUE 3345 COBB PARKWAY		30101	SC		2001		2007			100.00	%		16,130		16,130		285,611
186 ALPHARETTA, GA	JO-ANN FABRICS 965 NORTH POINT DR		30022	SC		2000		2007			100.00	%		38,418		38,418		512,880	JO-ANN STORES(2016)
187 ATHENS, GA	ATHENS EAST 4375 LEXINGTON ROAD		30605	SC		2000		2003			100.00	%		24,000		218,879		306,840	WAL MART(NOT OWNED)
188 ATLANTA, GA (DULUTH)	PLEASANT HILL PLAZA 1630 PLEASANT HILL ROAD		30136	SC		1990		1994			100.00	%		99,025		219,025		636,570	WAL-MART(NOT OWNED)
189 ATLANTA, GA (PERIMETER)	PERIMETER POINTE 1155 MT. VERNON HIGHWAY		30136	SC		1995/2002		1995			14.50	%		343,155		352,755		4,817,330	STEIN MART(2010), BABIES R US(2012), SPORTS AUTHORITY(2012), L.A. FITNESS(2016), OFFICE DEPOT(2012), UNITED ARTISTS THEATRE(2015)
190 ATLANTA, GA(ABERNATHY)	ABERNATHY SQUARE 6500 ROSWELL RD		30328	SC		1983/1994		2007			100.00	%		131,516		131,516		2,381,919	PUBLIX SUPER MARKETS(2014)
191 ATLANTA, GA(BROOKHAVEN)	BROOKHAVEN 3974 PEACHTREE RD NE		30319	SC		1993		2007			20.00	%		65,320		71,320		1,150,261	KROGER(2018)
192 ATLANTA, GA(CORNERS)	CASCADE CORNERS 3425 CASCADE ROAD		30311	SC		1993		2007			20.00	%		66,844		66,844		473,016	KROGER(2020)
193 ATLANTA, GA(CROSSING)	CASCADE CROSSING 3695 CASCADE RD SW		30331	SC		1994		2007			20.00	%		63,346		63,346		601,284	PUBLIX SUPER MARKETS(2014)
194 AUGUSTA, GA(GOODY’S)	GOODY’S SHOPPING CENTER (TIAA) 2360 GEORGETOWN ROAD		30906	SC		1999		2007			15.00	%		22,560		22,560		187,474	GOODY’S(2014)
195 AUGUSTA, GA(SHOPPES)	SHOPPES OF AUGUSTA 254 ROBERT C DANIEL JR. PRKWY		30909	SC		1999/2005		2007			100.00	%		21,000		21,000		611,535
196 BUFORD, GA (MILLCREEK)	MARKETPLACE AT MILLCREEK I (TI MALL OF GEORGIA BLVD		30519	SC		2003		2007			15.00	%		403,106		403,106		5,366,827	TOYS R US(2015), R.E.I.(2013), BORDERS(2020), OFFICE MAX(2014), LINENS ‘N THINGS(2015), PETSMART(2015), MICHAEL’S(2010), DSW SHOE WAREHOUSE(2013), ROSS DRESS FOR LESS(2013), MARSHALLS(2012)
197 CANTON, GA	HICKORY FLAT VILLAGE 6175 HICKORY FLAT HY		30115	SC		2000		2007			20.00	%		74,020		74,020		972,598	PUBLIX SUPER MARKETS(2020)
198 CANTON, GA (RIVER)	RIVERSTONE PLAZA 1451 RIVERSTONE PARKWAY		30114	SC		1998		2007			100.00	%		302,131		331,820		3,386,011	GOODY’S(2010), MICHAEL’S(2012), ROSS DRESS FOR LESS(2013), BELK(2018), PUBLIX SUPER MARKETS(2018)
199 CARTERSVILLE, GA	BARTOW MARKETPLACE (TIAA) 215 MARKETPLACE BLVD		30121	SC		1995		2007			15.00	%		375,067		375,067		2,448,431	WAL-MART(2015), LOWE’S(2015)
200 CHAMBLEE, GA	CHAMBLEE PLAZA PEACHTREE INDUSTRIAL BOULEVARD		30341	SC		1976		2003			100.00	%		175,969		175,969		885,415

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 11 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
201 COLUMBUS, GA	BRADLEY PARK CROSSING 1591 BRADLEY PARK DRIVE COLUMB		31904	SC		1999		2003		100.00	%		119,786		242,786		1,369,645	GOODY’S(2011), PETSMART(2015), MICHAEL’S(2009), TARGET(NOT OWNED)
202 CUMMING, GA	SHARON GREENS 1595 PEACHTREE PKWY		30041	SC		2001		2007		100.00	%		98,317		101,317		1,157,432	KROGER(2021)
203 CUMMING, GA (MARKETPLACE)	CUMMING MARKETPLACE MARKETPLACE BOULEVARD		30041	SC		1997/1999		2003		100.00	%		308,557		652,642		3,765,981	GOODY’S(2012), LOWE’S(2019), MICHAEL’S(2010), OFFICE MAX(2013), HOME DEPOT(NOT OWNED), WAL MART(NOT OWNED)
204 DECATUR, GA(FLAT SHOALS)	FLAT SHOALS CROSSING 3649 FLAKES MILL RD		30034	SC		1994		2007		20.00	%		69,699		69,699		705,615	PUBLIX SUPER MARKETS(2013)
205 DECATUR, GA(HAIRSTON)	HAIRSTON CROSSING 2075 S HAIRSTON ROAD		30035	SC		2002		2007		100.00	%		57,884		57,884		664,948	PUBLIX SUPER MARKETS(2022)
206 DOUGLASVILLE, GA	DOUGLASVILLE MARKETPLACE 6875 DOUGLAS BOULEVARD		30135	SC		1999		2003		100.00	%		86,158		261,353		1,450,285	BABIES R US(2011), BEST BUY(2015), LOWES(NOT OWNED)
207 DOUGLASVILLE, GA(MARKET)	MARKET SQUARE 9503-9579 HIGHWAY 5		30135	SC		1974/1990		2007		100.00	%		121,766		128,266		1,515,360	OFFICE DEPOT(2013)
208 DOUGLASVILLE, GA(PAVILION)	DOUGLAS PAVILION (TIAA) 2900 CHAPEL HILL RD		30135	SC		1998		2007		15.00	%		267,010		370,010		2,898,824	PETSMART(2014), OFFICE MAX(2013), MARSHALLS(2008), GOODY’S(2013), ROSS DRESS FOR LESS(2012), HUDSON’S FURNITURE SHOWROOM(2014)
209 DULUTH, GA (VENTURE)	VENTURE POINTE I (TIAA) 2050 W. LIDDELL RD.		30096	SC		1996		2007		15.00	%		335,420		335,420		2,800,819	HOBBY LOBBY(2011), BABIES R US(2014), ASHLEY FURNITURE HOMESTORE(2012), GOODY’S(2011), GOLFSMITH GOLF CENTER(2012), KOHL’S(2022)
210 DULUTH, GA(SOFA)	SOFA EXPRESS 3480 STEVE REYNOLDS BLVD		30096	SC		2004		2007		100.00	%		20,000		20,000		325,000
211 DULUTH, GA, GA(PLEASANT)	PLEASANT HILL (TIAA) 2205 PLEASANT HILL		30096	SC		1997/2000		2007		15.00	%		282,137		282,137		3,353,588	BARNES & NOBLE(2012), TOYS R US(2008), JO-ANN STORES(2011), STAPLES(2014), J.C. PENNEY(2012), OLD NAVY(2009)
212 ELLENWOOD, GA	SHOPPES OF ELLENWOOD EAST ATLANTA ROAD & FAIRVIEW ROAD		30294	SC		2003		2007		100.00	%		67,721		67,721		972,197	PUBLIX SUPER MARKETS(2023)
213 FAYETTEVILLE, GA (PAVILION)	FAYETTE PAVILION I (TIAA) NEW HOPE ROAD & GA HWY 85		30214	SC		1995/2002		2007		15.00	%		1,280,938		1,529,435		11,723,216	H.H. GREGG APPLIANCES(2018), WAL-MART(2016), GOODY’S(2016), BED BATH & BEYOND(2013), SPORTS AUTHORITY(2012), T.J. MAXX(2008), PUBLIX SUPER MARKETS(2016), BELK(2015), SEASONAL CONCEPTS(2014), BEST BUY(2013), HUDSON’S FURNITURE SHOWROOM(2016), OLD NAVY(2010), ROSS DRESS FOR LESS(2012), TOYS R US(2010), CINEMARK(2018), MARSHALLS(2011), PETSMART(2016), KOHL’S(2022), JO-ANN STORES(2012), DICK’S SPORTING GOODS(2016)
214 FLOWERY BRANCH, GA	CLEARWATER CROSSING 7380 SPOUT SPRINGS ROAD		30542	SC		2003		2007		100.00	%		90,566		90,566		1,108,929	KROGER(2023)
215 GAINESVILLE, GA	ECKERD DRUG STORE #0444 599 S. ENOTA DRIVE		30501	SC		1997		2007		100.00	%		10,594		10,594		178,016
216 HIRAM, GA	HIRAM PAVILION I (TIAA) 5220 JIMMY LEE SMITH PARKWAY		30141	SC		2002		2007		15.00	%		363,695		568,715		3,842,313	ROSS DRESS FOR LESS(2012), MICHAEL’S(2012), MARSHALLS(2011), KOHL’S(2022), GOODY’S(2016), LINENS ‘N THINGS(2017)
217 KENNESAW, GA (BARRETT)	BARRETT PAVILION I (TIAA) 740 BARRETT PARKWAY		30144	SC		1998		2007		15.00	%		440,523		672,377		6,392,004	AMC THEATRE(2019), HOMEGOODS(2013), SCHOOL BOX, THE(2010), GOODY’S(2011), GOLFSMITH GOLF CENTER(2013), H.H. GREGG APPLIANCES(2018), JO-ANN STORES(2011)
218 KENNESAW, GA(TOWN)	TOWN CENTER COMMONS 725 EARNEST BARRETT PARKWAY		30144	SC		1998		2007		100.00	%		72,108		159,758		1,015,607	J.C. PENNEY(2008)
219 LAFAYETTE, GA	LAFAYETTE CENTER 1109 NORTH MAIN STREET		30728	SC		1990		2003		100.00	%		75,622		78,422		459,569	FARMERS HOME FURNITURE(2009)
220 LAWRENCEVILLE, GA	FIVE FORKS VILLAGE 850 DOGWOOD ROAD		30044	SC		1990		2003		10.00	%		89,064		89,064		483,363

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 12 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
221 LAWRENCEVILLE, GA(ECKERD)	ECKERD DRUG STORE #3449 1545 LAWRENCEVILLE HIGHWAY		30044	SC		1997		2007		100.00	%		9,504		9,504		184,328
222 LAWRENCEVILLE, GA(SPRINGFIELD)	SPRINGFIELD PARK 665 DULUTH HIGHWAY		30045	SC		1992/2000		2007		100.00	%		105,321		105,321		1,063,156	HOBBY LOBBY(2011)
223 LILBURN, GA (FIVE FORKS)	FIVE FORKS CROSSING 3055 FIVE FORKS TRICKUM ROAD		30047	SC		2000/2001		2003		10.00	%		73,910		73,910		700,530	KROGER(2012)
224 LITHONIA, GA	STONECREST MARKETPLACE (TIAA) TURNER HILL ROAD AND MALL PARKWAY		30038	SC		2002		2007		15.00	%		264,644		264,644		3,612,762	STAPLES(2017), BABIES R US(2018), LINENS ‘N THINGS(2018), DSW SHOE WAREHOUSE(2013), ROSS DRESS FOR LESS(2013), MARSHALLS(2012)
225 LITHONIA, GA (THE SHOPS AT TURNER	THE SHOPS AT TURNER HILL 8200 MALL PARKWAY		30038	SC		2004		2003		14.50	%		113,675		293,670		1,658,823	BEST BUY(2018), BED BATH & BEYOND(2013), TOYS R US(NOT OWNED), SAM’S CLUB(NOT OWNED)
226 LOGANVILLE, GA	MIDWAY PLAZA 910 ATHENS HWY		30052	SC		1995		2003		20.00	%		91,196		91,196		995,879	KROGER(2016)
227 MACON, GA (EISENHOWER)	EISENHOWER CROSSING I (TIAA) 4685 PRESIDENTIAL PARKWAY		31206	SC		2002		2007		15.00	%		479,200		536,224		5,050,497	KROGER(2022), H.H. GREGG APPLIANCES(2036), PETSMART(2017), STAPLES(2016), MICHAEL’S(2011), ROSS DRESS FOR LESS(2012), BED BATH & BEYOND(2012), GOODY’S(2016), OLD NAVY(2011), MARSHALLS(2011), DICK’S SPORTING GOODS(2017)
228 MACON, GA(DAVID’S)	EISENHOWER OUTLOT (DAVID’S BRI 4685 PRESIDENTIAL PARKWAY		31206	SC		2004		2007		15.00	%		14,000		14,000		250,375
229 MACON, GA(K-MART)	K-MART 1901 PAUL WALSH DR.		31206	SC		2000		2007		100.00	%		102,098		102,098		0
230 MADISON, GA	BEACON HEIGHTS 1462-1532 EATONTON ROAD		30650	SC		1989		2003		100.00	%		85,105		85,105		481,872	INGLES(2010)
231 MARIETTA, GA	TOWN CENTER PRADO 2609 BELLS FERRY ROAD		30066	SC		1995/2002		1995		14.50	%		316,786		326,683		3,871,947	STEIN MART(2007), ROSS DRESS FOR LESS(2013), PUBLIX SUPER MARKETS(2015), CRUNCH FITNESS(2011)
232 MARIETTA, GA(BLOCKBUSTER)	BLOCKBUSTER 1748 POWDER SPRINGS		30064	SC		1994		2007		20.00	%		6,500		6,500		128,960
233 MARIETTA, GA(ECKERD)	ECKERD DRUG STORE #0234 731 WHITLOCK AVE		30064	SC		1997		2007		100.00	%		10,880		10,880		183,507
234 MCDONOUGH, GA	MCDONOUGH MARKETPLACE (LP-II) NE CORNER 175 & HIGHWAY 20		30253	SC		2003		2005		14.50	%		53,158		360,729		820,049	OFFICE DEPOT(2016), WALMART(NOT OWNED), LOWES(NOT OWNED)
235 MCDONOUGH, GA(DOW)	SHOPPES AT LAKE DOW 900-938 HIGHWAY 81 E		30252	SC		2002		2007		100.00	%		73,271		73,271		812,730	PUBLIX SUPER MARKETS(2022)
236 MORROW, GA (SOUTHLAKE)	SOUTHLAKE PAVILION (TIAA) 1912 MT ZION ROAD		30260	SC		1996/2001		2007		15.00	%		530,066		644,614		5,054,233	CIRCUIT CITY(2017), ROSS DRESS FOR LESS(2011), BARNES & NOBLE(2013), ASHLEY FURNITURE HOMESTORES(2012), WORLD GYM(2017), STAPLES(2015), OLD NAVY(2011), GOODY’S(2016), H.H. GREGG APPLIANCES(2018), COMPUSA(2012)
237 NEWNAN, GA	NEWNAN CROSSING 955-1063 BULLSBORO DRIVE NEWNA		30264	SC		1995		2003		100.00	%		156,497		426,723		1,321,515	LOWE’S(2015), BELKS(NOT OWNED), WALMART(NOT OWNED)
238 NEWNAN, GA(PAVILION)	NEWNAN PAVILION (TIAA) 1074 BULLSBORO DR		30265	SC		1998		2007		15.00	%		459,599		459,599		3,803,925	OFFICE MAX(2013), PETSMART(2015), GOODY’S(2009), CIRCUIT CITY(2016), HOME DEPOT(2019), ROSS DRESS FOR LESS(2012), KOHL’S(2022)
239 NORCROSS, GA	JONES BRIDGE PLAZA 5075 PEACHTREE PKWY		30092	SC		1999		2007		100.00	%		83,363		83,363		803,596	INGLES(2019)
240 ROME, GA	CIRCUIT CITY — ROME 2700 MARTHA BERRY HIGHWAY NE		30165	SC		2001		2007		100.00	%		33,056		33,056		420,000	CIRCUIT CITY(2021)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 13 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
241 ROSWELL, GA (SANDY)	SANDY PLAINS VILLAGE I GEORGIA HWY 92 AND SANDY PLAINS ROAD		30075	SC		1978/1995		2007		100.00	%		177,599		177,599		1,789,613	KROGER(2010), STEIN MART(2009)
242 ROSWELL, GA(STONEBRIDGE)	STONEBRIDGE SQUARE (TIAA) 610-20 CROSSVILLE RD		30075	SC		2002		2007		15.00	%		160,104		162,832		1,988,976	LINENS ‘N THINGS(2011), KOHL’S(2022)
243 SMYRNA, GA	HERITAGE PAVILION (TIAA) 2540 CUMBERLAND BLVD		30080	SC		1995		2007		15.00	%		262,961		262,961		2,539,632	PETSMART(2016), ROSS DRESS FOR LESS(2016), AMERICAN SIGNATURE(2018), T.J. MAXX(2010), MARSHALLS(2011)
244 SNELLVILLE, GA(COMMONS)	PRESIDENTIAL COMMONS 1630-1708 SCENIC HWY		30078	SC		2000		2007		100.00	%		371,586		371,586		4,526,549	JO-ANN STORES(2014), KROGER(2018), STEIN MART(2008), CIRCUIT CITY(2019), HOME DEPOT(2023)
245 SNELLVILLE, GA(ECKERD)	ECKERD DRUG STORE #2320 3295 CENTERVILLE HWY		30039	SC		1997		2007		100.00	%		10,594		10,594		199,601
246 STOCKBRIDGE, GA(FREEWAY)	FREEWAY JUNCTION 3797-3879 HIGHWAY 138 SE STOCK		30281	SC		1988		2003		100.00	%		162,778		162,778		856,595	FRED’S(2013), NORTHERN TOOL(2015), FARMERS HOME FURNITURE(2011), GOODWILL(2011)
247 STOCKBRIDGE, GA(PIKE)	PIKE NURSERIES-STOCKBRIDGE GA STOCKBRIDGE-PIKE		30281	SC		1997		2003		100.00	%		0		10,800		244,145
248 STONE MOUNTAIN, GA	RIVERCLIFF VILLAGE STONE MOUNTAIN HIGHWAY STONE M		30047	SC		1999		1993		100.00	%		2,000		2,000		46,200
249 STONE MOUNTAIN, GA (DESHON)	DESHON PLAZA 380 N. DESHON ROAD		30087	SC		1994		2007		20.00	%		64,055		64,055		623,084	PUBLIX SUPER MARKETS(2014)
250 SUWANEE, GA(CROSS)	SUWANEE CROSSROADS (TIAA) LAWRENCEVILLE ROAD & SATELLITE BLVD		30024	SC		2002		2007		15.00	%		69,600		69,600		931,675
251 SUWANEE, GA(JOHNS)	JOHNS CREEK TOWNE CENTER 3630 PEACHTREE PARKWAY SUWANEE		30024	SC		2001/2004		2003		100.00	%		285,336		285,336		3,912,141	BORDERS(2021), PETSMART(2020), KOHL’S(2022), MICHAEL’S(2011), STAPLES(2016), SHOE GALLERY(2014)
252 SUWANNEE, GA(SHOPS)	THE SHOPS AT JOHNS CREEK 4090 JOHNS CREEK PKY		30024	SC		1997		2007		20.00	%		18,200		18,200		349,382
253 SYLVANIA, GA	BI-LO — SYLVANIA 1129 W OGEECHEE ST		30467	SC		2002		2007		100.00	%		36,000		36,000		378,000	BI-LO(2023)
254 TUCKER, GA	COFER CROSSING 4349-4375 LAWRENCEVILLE HWY		30084	SC		1998/2003		2003		100.00	%		130,832		272,400		1,285,824	GOODY’S(2014), KROGER(2019), WALMART(NOT OWNED)
255 TYRONE, GA	SOUTHAMPTON VILLAGE NWC OF HIGHWAY 74 & SWANSON ROAD		30290	SC		2003		2007		100.00	%		77,956		77,956		911,352	PUBLIX SUPER MARKETS(2023)
256 UNION CITY, GA	SHANNON SQUARE 4720 JONESBORO ROAD		30291	SC		1986		2003		100.00	%		100,002		181,954		491,615	WALMART(NOT OWNED)
257 WARNER ROBBINS, GA(LOWE’S)	LOWE’S HOME IMPROVEMENT 2704 WATSON BLVD.		31093	SC		2000		2007		100.00	%		131,575		131,575		910,000	LOWE’S(2017)
258 WARNER ROBINS, GA	WARNER ROBINS PLACE 2724 WATSON BOULEVARD		31093	SC		1997		2003		100.00	%		107,941		459,700		1,209,282	T.J. MAXX(2010), STAPLES(2016), LOWE’S(NOT OWNED), WALMART(NOT OWNED)
259 WARNER ROBINS, GA(CITY)	CITY CROSSING (TIAA) WATSON BLVD & CARL VINSON PKWY		31093	SC		2001		2007		15.00	%		190,433		190,433		1,735,423	MICHAEL’S(2011), ROSS DRESS FOR LESS(2012)
260 WARNER ROBINS, GA(HOUSTON)	HOUSTON SQUARE 207 RUSSELL PARKWAY		31088	SC		1994		2007		100.00	%		60,799		60,799		479,988	PUBLIX SUPER MARKETS(2014)
261 WOODSTOCK, GA	WOODSTOCK PLACE 10029 HIGHWAY 928		30188	SC		1995		2003		100.00	%		44,691		44,691		323,533

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 14 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
262 WOODSTOCK, GA(SQUARE)	WOODSTOCK SQUARE (TIAA) 120-142 WOODSTOCK SQ		30189	SC		2001		2007			15.00	%		218,859		566,859		2,862,610	OFFICE MAX(2017), OLD NAVY(2012), KOHL’S(2022)
Idaho
263 IDAHO FALLS, ID (DDRC)	COUNTRY CLUB MALL 1515 NORTHGATE MILE		83401	SC		1976/1992/1997		1998			100.00	%		148,593		306,201		750,828	OFFICE MAX(2011), WORLD GYM(2008), FRED MEYER, INC.(NOT OWNED)
264 MERIDIAN, ID	MERIDIAN CROSSROADS EAGLE AND FAIRVIEW ROAD		83642	SC		1999/2001/2002/2003/ 2004					100.00	%		461,023		731,482		6,226,740	BED BATH & BEYOND(2011), OLD NAVY(2010), SHOPKO(2020), OFFICE DEPOT(2010), ROSS DRESS FOR LESS(2012), MARSHALLS(2012), SPORTSMAN’S WAREHOUSE(2015), CRAFT WAREHOUSE(2013), WALMART(NOT OWNED), BABIES R US(NOT OWNED)
Illinois
265 DECATUR, IL	DECATUR MARKETPLACE MARYLAND STREET		62521	SC		1999		2003			100.00	%		22,775		194,775		257,970	WAL MART(NOT OWNED)
266 DEER PARK, IL	DEER PARK TOWN CENTER 20530 NORTH RAND RD		60010	LC		2000/2004		1/2	*		24.75	%		286,482		390,677		7,341,479	GAP # 581(2010), BARNES & NOBLE(NOT OWNED), CENTURY CINEMAS(NOT OWNED), PIER 1 IMPORTS(201), BANANA REPUBLIC(2010), POTTERY BARN KIDS(2012), POTTERY BARN(2013), RESTORATION HARDWARE(2010), EDDIE BAUER HOME(2011), EDDIE BAUER SPORTSWEAR(2011), COLDWATER CREEK(2010), J.CREW(2011), ANN TAYLOR(2011), TALBOTS/TALBOTS PETITES(2011), WILLIAMS-SONOMA(2013), JOSEPH A. BANKCLOTHERS(2011), CALIFORNIA PIZZA KITCHEN(2013), BATH AND BODY WORKS(2011), J.JILL(2013), BOMBAY(2007), AMERICAN EAGLE(2007), VICTORIA’s SECRET(2007)
267 MCHENRY, IL	THE SHOPS AT FOX RIVER 3340 SHOPPERS DRIVE		60050	SC		2006		1	*		100.00	%		71,764		71,764		1,377,337	DICK’S SPORTING GOODS(2018), PETSMART(2017), BED BATH & BEYOND(2017), BEST BUY(2018)
268 MOUNT VERNON, IL	TIMES SQUARE MALL 42ND AND BROADWAY		62864	MM		1974/1998/2000		1993			100.00	%		269,328		269,328		1,018,897	SEARS(2013), GOODY’S(2015), J.C. PENNEY(2007)
269 ORLAND PARK, IL	MARLEY CREEK SQUARE 179TH ST. & WOLF ROAD		60467	SC		2006		2006			50.00	%		57,658		62,558		407,539
270 ORLAND PARK, IL (HOME DEPOT)	HOME DEPOT CENTER 15800 HARLEM AVENUE		60462	SC		1987/1993		2004			100.00	%		149,498		149,498		1,448,664	HOME DEPOT(2012)
271 ROCKFORD, IL	WALGREENS — ROCKFORD 2525 S. ALPINE ROAD		61108	SC		1998/1999		2007			100.00	%		14,725		14,725		350,000
272 ROSCOE, IL	HILANDER VILLAGE 4860 HONONEGAH ROAD		61073	SC		1994		2007			20.00	%		130,648		130,648		1,050,662	KROGER(2020)
273 SCHAUMBURG, IL	WOODFIELD VILLAGE GREEN 1430 EAST GOLF ROAD		60173	SC		1993/1998/2002		1995			14.50	%		508,815		674,504		8,623,641	CIRCUIT CITY(2009), OFF 5TH(2011), PETSMART(2014), HOMEGOODS(2014), OFFICE MAX(2010), CONTAINER STORE(2011), FILENE’S BASEMENT(2014), MARSHALLS(2009), NORDSTROM RACK(2009), BORDERS(2009), EXPO DESIGN CENTER(2019), PRAIRIE ROCK RESTAURANT(NOT OWNED), COSTCO(NOT OWNED)
274 SKOKIE, IL	VILLAGE CROSSING (TIAA) 5507 W. TOUHY AVE		60077	SC		1989		2007			15.00	%		434,973		434,973		7,801,521	MICHAEL’S(2013), COMPUSA(2007), BED BATH & BEYOND(2013), OFFICE MAX(2015), BEST BUY(2009), CROWN THEATRES(2021), BARNES & NOBLE(2009)
Indiana
275 BEDFORD, IN	TOWN FAIR CENTER 1320 JAMES AVENUE		47421	SC		1993/1997		2	*		100.00	%		223,431		223,431		1,136,289	K MART(2008), GOODY’S(2008), J.C. PENNEY(2008)
276 EVANSVILLE, IN(EAST)	EAST LLOYD COMMONS 6300 E. LLOYD EXPWY		47715	SC		2005		2007			100.00	%		167,606		167,606		2,186,664	GORDMAN’S(2015), MICHAEL’S(2015), BEST BUY(2016)
277 HIGHLAND, IN	HIGHLAND GROVE SHOPPING CENTER HIGHWAY 41 & MAIN STREET		46322	SC		1995/2001		1996			20.00	%		309,519		521,383		3,530,400	MARSHALLS(2011), KOHL’S(2016), CIRCUIT CITY(2016), OFFICE MAX(2012), JEWEL(NOT OWNED), BORDERS(NOT OWNED), TARGET(NOT OWNED)
278 INDIANAPOLIS, IN	GLENLAKE PLAZA 2629 E. 65TH STREET		46220	SC		1980		2007			20.00	%		104,785		104,785		821,328	KROGER(2020)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 15 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
279 LAFAYETTE, IN	PARK EAST MARKETPLACE 4205 — 4315 COMMERCE DRIVE		47905	SC		2000		2003			100.00	%		35,100		243,850		382,550	WAL MART(NOT OWNED)
280 SOUTH BEND, IN	BROADMOOR PLAZA 1217 E. IRELAND ROAD		46614	SC		1987		2007			20.00	%		114,968		114,968		1,260,823	KROGER(2020)
Iowa
281 CEDAR RAPIDS, IA	NORTHLAND SQUARE 303 -367 COLLINS ROAD, NE		52404	SC		1984		1998			100.00	%		187,068		207,405		1,885,609	T.J. MAXX(2010), OFFICE MAX(2010), BARNES & NOBLE(2010), KOHL’S(2021)
282 OTTUMWA, IA	QUINCY PLACE MALL 1110 QUINCY AVENUE		52501	MM		1990/1999/2002		1/2	*		100.00	%		241,427		344,677		1,262,505	HERBERGER’S(2020), J.C. PENNEY(2010), GOODY’S(2014), TARGET(NOT OWNED)
Kansas
283 LEAWOOD, KS	TOWN CENTER PLAZA 5000 W 119TH STREET		66209	LC		1996/2002		1998			100.00	%		308,628		490,999		8,164,158	BARNES & NOBLE #2668(2011), COLDWATER CREEK(2009), LIMITED/LIMITED TOO(2009), VICTORIA’S SECRET(2009), EXPRESS/BATH&BODY/STRUCTURE(2009), GAP/GAP BODY(2008), GAP KIDS(2005), J.JILL(2013), POTTERY BARN(2009), WILLIAMS- SONOMA(2009), AMERICAN EAGLE(2013), PACIFIC SUNWEAR(2012), BRAVO CUCINA ITALIANA(2013), RESTORATION HARDWARE(2012), HOULIHANS(2025), BRISTOL SEAFOOD BAR & GRILL(2011), BOMBAY(2006),THE JONES STORE(2009)
284 MERRIAM, KS	MERRIAM TOWN CENTER 5700 ANTIOCH ROAD		66202	SC		1998/2004		1	*		14.50	%		351,244		473,750		4,197,874	CINEMARK(2018), OFFICE MAX(2013), PETSMART(2019), HEN HOUSE(2018), MARSHALLS(2008), DICK’S SPORTING GOODS(2016), HOME DEPOT #2202(NOT OWNED)
285 OVERLAND PARK, KS (CHEROKEE)	CHEROKEE NORTH SHOPPING CENTER 8800-8934 W.95TH STREET		66212	SC		1987/2002		1998			24.75	%		60,765		60,981		724,560
286 OVERLAND PARK, KS(POINTE)	OVERLAND POINTE MARKETPLACE INTER 135 & ANTIOCH ROAD		66213	SC		2001/2004		2003			14.50	%		42,632		361,759		908,335	BABIES R US(NOT OWNED), HOME DEPOT(NOT OWNED), SAM’S CLUB(NOT OWNED)
287 WICHITA, KS (EASTGATE)	EASTGATE PLAZA SOUTH ROCK ROAD		67207	SC		1955		2002			100.00	%		203,997		253,997		2,053,809	OFFICE MAX(2010), T.J. MAXX(2011), BARNES & NOBLE(2012), KCBB, INC BURLINGTON(NOT OWNED)
Kentucky
288 FLORENCE, KY (TURFWAY)	TURFWAY PLAZA 6825 TURFWAY RD		41042	SC		1975/1998		2004			100.00	%		133,985		133,985		968,461	OFFICE DEPOT(2011), PARTY TOWN(2016), BIG LOTS(2008)
289 FRANKFORT, KY (EASTWOOD)	EASTWOOD SHOPPING CENTER 260 VERSAILLES ROAD		40601	SC		1963/1994		2004			100.00	%		155,104		155,104		849,673	SEARS(2011)
290 LEXINGTON, KY (NORTH)	NORTH PARK MARKETPLACE 524 WEST NEW CIRCLE		40511	SC		1998		2003			100.00	%		46,647		228,878		641,174	STAPLES(2016), WAL MART(NOT OWNED)
291 LEXINGTON, KY (SOUTH)	SOUTH FARM MARKETPLACE MAN-O-WAR BOULEVARD AND NICHOL		40503	SC		1998		2003			100.00	%		27,643		344,280		595,780	WAL MART(NOT OWNED), LOWE’S(NOT OWNED)
292 LOUISVILLE, KY (OUTER LOOP)	OUTER LOOP PLAZA 7505 OUTER LOOP HIGHWAY		40228	SC		1973/1989/1998		2004			100.00	%		120,777		120,777		645,469	VALU DISCOUNT(2009)
293 RICHMOND, KY	CARRIAGE GATE 833-847 EASTERN BY-PASS		40475	SC		1992		2003			100.00	%		158,041		229,313		370,835	FOOD LION(2017), OFFICE DEPOT(2016), BALLARD’S(NOT OWNED)
Louisiana
294 COVINGTON, LA	COVINGTON CORNERS 782 NORTH HGHWY 190		70433	SC		1999		2007			100.00	%		15,590		15,590		108,091
Maine
295 BRUNSWICK, ME	COOK’S CORNERS 172 BATH ROAD		04011	SC		1965		1997			100.00	%		301,992		309,429		2,619,362	HOYTS CINEMAS(2010), BRUNSWICK BOOKLAND(2014), BIG LOTS(2013), T.J. MAXX(2010), SEARS(2012)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 16 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
Maryland
296 BOWIE, MD	DUVALL VILLAGE 4825 GLENN DALE ROAD		20720	SC		1998		2007			100.00	%		88,022		88,022		1,413,903	SUPER FRESH(2020)
297 GLEN BURNIE, MD	HARUNDALE PLAZA 7440 RITCHIE HIGHWAY		21061	SC		1999		2007			100.00	%		217,619		217,619		2,535,604	A & P COMPANY(2019), A.J. WRIGHT(2009), VALUE CITY(2015)
298 HAGERSTOWN, MD	VALLEY PARK COMMONS 1520 WESEL BLVD.		21740	SC		1993/2006		2007			100.00	%		88,079		88,079		1,142,857	OFFICE DEPOT(2016)
299 SALISBURY, MD	THE COMMONS E. NORTH POINT DRIVE		21801	SC		1999		1	*		100.00	%		126,135		350,012		1,691,852	BEST BUY(2013), MICHAEL’S(2009), TARGET(NOT OWNED), HOME DEPOT(NOT OWNED)
300 UPPER MARLBORO, MD	LARGO TOWNE CENTER 950 LARGO CENTER DR		20774	SC		1991		2007			100.00	%		260,797		384,048		2,990,209	SHOPPERS FOOD WAREHOUSE(2009), MARSHALLS(2011), REGENCY FURNITURE(2017)
301 WHITE MARSH, MD	COSTCO PLAZA (TIAA) 9919 PULASKI HWY		21220	SC		1987/1992		2007			15.00	%		227,811		250,311		1,849,043	COSTCO WHOLESALE(2011), PETSMART(2010), SPORTS AUTHORITY(2011), HOME DEPOT(2040)
Massachusetts
302 EVERETT, MA	GATEWAY CENTER 1 MYSTIC VIEW ROAD		02149	SC		2001		1	*		100.00	%		222,287		639,807		4,553,959	BED BATH & BEYOND(2011), OLD NAVY(2011), OFFICE MAX(2020), BABIES R US(2013), MICHAEL’S(2012), TARGET #1229(NOT OWNED), COSTCO(NOT OWNED)
303 FRAMINGHAM, MA	SHOPPER’S WORLD 1 WORCESTER ROAD		01701	SC		1994		1995			14.50	%		769,276		778,701		14,467,160	TOYS R US(2020), MACY’S(2020), T.J. MAXX(2010), BABIES R US(2013), DSW SHOE WAREHOUSE(2012), A.C. MOORE(2012), MARSHALLS(2011), BOB’S STORES(2011), LINENS ‘N THINGS(2011), SPORTS AUTHORITY(2015), PETSMART(2011), BEST BUY(2014), BARNES & NOBLE(2011), AMC THEATRE(2014), KOHL’S(2010)
304 SEEKONK, MA	SEEKONK TOWN CENTER 95 HIGHLAND AVE		02771	SC		2003		2007			100.00	%		80,713		80,713		903,147	STOP & SHOP(2026)
305 WEST SPRINGFIELD, MA	RIVERDALE SHOPS 935 RIVERDALE STREET		01089	SC		1985/2003		2007			100.00	%		273,307		273,307		3,079,284	KOHL’S(2024), STOP & SHOP(2021)
306 WORCESTER, MA	WAL-MART/SAM’S CLUB 301 BARBER AVE		01606	SC		1998		2007			100.00	%		107,929		107,929		1,116,581	SAM’S CLUB(2013)
Michigan
307 BAD AXE, MI	HURON CREST PLAZA 850 NORTH VAN DYKE ROAD		48413	SC		1991		1993			100.00	%		63,415		134,574		136,808	WAL-MART(NOT OWNED)
308 BENTON HARBOR, MI	FAIRPLAIN PLAZA 1000 NAPIER AVE		49022	SC		1998		2006			20.00	%		222,739		413,399		1,701,328	OFFICE DEPOT(2008), T.J. MAXX(2009), KOHL’S(NOT OWNED), TARGET(NOT OWNED)
309 CHEBOYGAN, MI	KMART SHOPPING PLAZA 1109 EAST STATE		49721	SC		1988		1994			100.00	%		70,076		145,827		266,063	K MART(2010), Kmart(NOT OWNED)
310 DEARBORN HEIGHTS, MI	WALGREENS — DEARBORN HEIGHTS 8706 N. TELEGRAPH RD		48127	SC		1998/1999		2007			100.00	%		13,905		13,905		385,510
311 DETROIT, MI	BELAIR CENTER 8400 E. EIGHT MILE ROAD		48234	SC		1989/2002		1998			100.00	%		343,619		445,349		2,509,037	NATIONAL WHOLESALE LIQUIDATORS(2016), PHOENIX THEATERS(2011), BALLY TOTAL FITNESS(2016), BIG LOTS(2008), KIDS R US(2013), FORMAN MILLS(2012), TARGET(NOT OWNED)
312 GAYLORD, MI	PINE RIDGE SQUARE 1401 WEST MAIN STREET		49735	SC		1991/2004		1993			100.00	%		150,203		150,203		688,026	DUNHAM’S SPORTING GOODS(2011), BIG LOTS(2010), BUY LOW(2011)
313 GRANDVILLE, MI	GRANDVILLE MARKETPLACE INTERSECTN 44TH ST & CANAL AVE		49418	SC		2003		2003			14.50	%		200,326		350,698		2,518,411	CIRCUIT CITY(2017), LINENS ‘N THINGS(2013), GANDER MOUNTAIN(2016), OFFICE MAX(2013), LOWE’S(NOT OWNED)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 17 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
314 HOUGHTON, MI	COPPER COUNTRY MALL HIGHWAY M26		49931	MM		1981/1999		1/2	*		100.00	%		257,863		257,863		995,676	STEVE & BARRY’S(2013), J.C. PENNEY(2010), OFFICE MAX(2014)
315 HOWELL, MI	GRAND RIVER PLAZA 3599 EAST GRAND RIVER		48843	SC		1991		1993			100.00	%		215,047		215,047		1,051,215	ELDER-BEERMAN(2011), DUNHAM’S SPORTING GOODS(2011)
316 LANSING, MI	THE MARKETPLACE AT DELTA TOWNS 8305 WEST SAGINAW HWY 196 RAMP		48917	SC		2000/2001		2003			100.00	%		135,697		489,104		1,423,369	MICHAEL’S(2011), GANDER MOUNTAIN(2015), STAPLES(2016), PETSMART(2016), LOWE’S(NOT OWNED), WAL MART(NOT OWNED)
317 LIVONIA, MI	WALGREENS — LIVONIA 29200 6 MILE ROAD		48152	SC		1998/1999		2007			100.00	%		13,905		13,905		269,061
318 MILAN, MI	MILAN PLAZA 531 W. MAIN STREET		48160	SC		1955		2007			20.00	%		65,764		68,964		296,562	KROGER(2020)
319 MT. PLEASANT, MI	INDIAN HILLS PLAZA 4208 E BLUE GRASS ROAD		48858	SC		1990		2	*		100.00	%		249,680		249,680		1,667,984	WAL-MART(2009), T.J. MAXX(2014), KROGER(2011)
320 PORT HURON, MI	WALGREENS NWC 10TH STREET & OAK STREET		48060	SC		2000		2007			100.00	%		15,120		15,120		359,856
321 SAULT ST. MARIE, MI	CASCADE CROSSINGS 4516 I-75 BUSINESS SPUR		49783	SC		1993/1998		1994			100.00	%		270,761		270,761		1,734,882	WAL-MART(2012), J.C. PENNEY(2008), DUNHAM’S SPORTING GOODS(2011), GLEN’S MARKET(2013)
322 WALKER, MI (ALPINE AVE)	GREEN RIDGE SQUARE II 3410 ALPINE AVENUE		49504	SC		1991/1995		2004			100.00	%		91,749		91,749		930,669	CIRCUIT CITY(2010), BED BATH & BEYOND(2015)
323 WALKER, MI (GRAND RAPIDS)	GREEN RIDGE SQUARE 3390-B ALPINE AVE NW		49504	SC		1989		1995			100.00	%		133,538		303,447		1,509,893	T.J. MAXX(2011), OFFICE DEPOT(2010), TARGET(NOT OWNED), TOYS R US(NOT OWNED)
324 WESTLAND, MI	WALGREENS — WESTLAND 7210 N. MIDDLEBELT		48185	SC		2005		2007			100.00	%		13,905		13,905		285,053
Minnesota
325 BEMIDJI, MN	PAUL BUNYAN MALL 1201 PAUL BUNYAN DRIVE		56601	MM		1977/1998		2	*		100.00	%		297,803		297,803		1,526,451	K MART(2007), HERBERGER’S(2010), J.C. PENNEY(2008)
326 BRAINERD, MN	WESTGATE MALL 1200 HIGHWAY 210 WEST		56401	MM		1985/1998		1/2	*		100.00	%		260,319		260,319		1,853,169	STEVE & BARRY’S(2013), HERBERGER’S(2013), MOVIES 10(2011)
327 COON RAPIDS, MN	RIVERDALE VILLAGE 12921 RIVERDALE DRIVE		55433	SC		2003		1	*		14.50	%		551,867		940,371		9,150,520	KOHL’S(2020), JO-ANN STORES(2010), BORDERS(2023), LINENS ‘N THINGS(2016), OLD NAVY(2012), SPORTSMAN’S WAREHOUSE(2017), BEST BUY(2013), DSW SHOE WAREHOUSE(2016), J.C. PENNEY(NOT OWNED), SEARS(NOT OWNED), COSTCO(NOT OWNED)
328 EAGAN, MN	EAGAN PROMENADE 1299 PROMENADE PLACE		55122	SC		1997/2001		1997			50.00	%		278,211		342,014		3,611,722	BYERLY’S(2016), PETSMART(2018), BARNES & NOBLE(2012), OFFICE MAX(2013), T.J. MAXX(2013), BED BATH & BEYOND(2012), ETHAN ALLEN FURNITURE(NOT OWNED)
329 HUTCHINSON, MN	HUTCHINSON MALL 1060 SR 15		55350	MM		1981		1/2	*		100.00	%		121,001		209,843		476,765	J.C. PENNEY(2011), HENNEN’S FURNITURE(NOT OWNED)
330 MINNEAPOLIS, MN (MAPLE GROVE)	MAPLE GROVE CROSSING WEAVER LAKE ROAD & I-94		55369	SC		1995/2002		1996			50.00	%		265,957		354,321		3,032,430	KOHL’S(2016), BARNES & NOBLE(2011), GANDER MOUNTAIN(2011), MICHAEL’S(2012), BED BATH & BEYOND(2012), CUB FOODS(NOT OWNED)
331 ST. PAUL, MN	MIDWAY MARKETPLACE 1450 UNIVERSITY AVENUE WEST		55104	SC		1995		1997			14.50	%		324,354		473,596		2,686,390	WAL-MART(2022), CUB FOODS(2015), PETSMART(2011), MERVYN’S(2016), HERBERGER’S(NOT OWNED), BORDERS BOOKS AND MUSIC(NOT OWNED)
332 WORTHINGTON, MN	NORTHLAND MALL 1635 OXFORD STREET		56187	MM		1977		1/2	*		100.00	%		185,658		185,658		533,516	J.C. PENNEY(2012), HY VEE FOOD STORES(2011)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 18 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
Mississippi
333 GULFPORT, MS	CROSSROADS CENTER CROSSROADS PARKWAY		39503	SC		1999		2003			100.00	%		457,119		532,250		5,315,949	ACADEMY SPORTS(2015), BED BATH & BEYOND(2014), ROSS DRESS FOR LESS(2015), GOODY’S(2011), T.J. MAXX(2009), CINEMARK(2019), OFFICE DEPOT(2014), BARNES & NOBLE(2014), BELK’S(NOT OWNED)
334 JACKSON, MS (METRO)	METRO STATION 4700 ROBINSON ROAD		39204	SC		1997		2003			100.00	%		52,617		182,300		293,052	OFFICE DEPOT(2012), HOME DEPOT(NOT OWNED)
335 JACKSON, MS(JUNCTION)	THE JUNCTION 6351 I-55 NORTH3		39213	SC		1996		2003			100.00	%		107,780		326,319		1,173,859	PETSMART(2012), OFFICE DEPOT(2016), TARGET(NOT OWNED), HOME DEPOT(NOT OWNED)
336 OXFORD, MS	OXFORD PLACE 2015 — 2035 UNIVERSITY AVENUE		38655	SC		2000		2003			20.00	%		13,200		71,866		333,008	KROGER(NOT OWNED)
337 SALTILLO, MS	CROSS CREEK SHOPPING CENTER 1040-1184 CROSS CREEK DRIVE		38866	SC		1999		2003			100.00	%		65,269		173,269		547,174	STAPLES(2016), HOME DEPOT(NOT OWNED)
338 STARKVILLE, MS	STARKVILLE CROSSING 882 HIGHWAY 12 WEST		39759	SC		1999/2004		1994			100.00	%		133,691		268,254		915,148	J.C. PENNEY(2010), KROGER(2042), LOWE’S(NOT OWNED)
339 TUPELO, MS	BIG OAKS CROSSING 3850 N GLOSTER ST		38801	SC		1992		1994			100.00	%		348,236		348,236		1,912,276	SAM’S CLUB(2012), GOODY’S(2007), WAL-MART(2012)
Missouri
340 ARNOLD, MO	JEFFERSON COUNTY PLAZA VOGEL ROAD		63010	SC		2002		1	*		50.00	%		42,091		290,147		427,680	HOME DEPOT(NOT OWNED), TARGET(NOT OWNED)
341 FENTON, MO	FENTON PLAZA GRAVOIS & HIGHWAY 141		63206	SC		1970/1997		1/2	*		100.00	%		93,420		100,420		941,399
342 INDEPENDENCE, MO	INDEPENDENCE COMMONS 900 EAST 39TH STREET		64057	SC		1995/1999		1995			14.50	%		386,066		403,166		5,027,305	KOHL’S(2016), BED BATH & BEYOND(2012), MARSHALLS(2012), BEST BUY(2016), BARNES & NOBLE(2011), AMC THEATRE(2015)
343 KANSAS CITY, MO (WARD PARKWAY)	WARD PARKWAY 8600 WARD PARKWAY		64114	SC		1959/2004		2003			20.00	%		358,373		681,878		5,348,128	DICK’S SPORTING GOODS(2016), 24 HOUR FITNESS(2023), PETSMART(2016), STEVE& BARRY’S(2014), AMC THEATRE(2011), OFF BROADWAY SHOES(2015), T.J. MAXX(2013), DILLARD’S(NOT OWNED), TARGET(NOT OWNED)
344 SPRINGFIELD,MO (MORRIS)	MORRIS CORNERS 1425 EAST BATTLEFIELD		65804	SC		1989		1998			100.00	%		56,033		56,033		491,757	TOYS R US(2013)
345 ST. JOHN, MO	ST JOHN CROSSING 9000-9070 ST. CHARLES ROCK ROA		63114	SC		2003		2003			100.00	%		93,513		93,513		1,016,757	SHOP ‘N SAVE(2022)
346 ST. LOUIS, MO (PLZ SUNSET)	PLAZA AT SUNSET HILL 10980 SUNSET PLAZA		63128	SC		1997		1998			100.00	%		415,435		450,938		5,558,336	TOYS R US(2013), COMPUSA(2013), BED BATH & BEYOND(2012), MARSHALLS(2012), HOME DEPOT(2023), PETSMART(2012), BORDERS(2011)
347 ST.LOUIS, MO (KELLER)	KELLER PLAZA 4500 LEMAY FERRY ROAD		63129	SC		1987		1998			100.00	%		52,842		169,699		550,799	KELLER PLAZA 8(2011), SAM’S(NOT OWNED)
348 ST.LOUIS, MO (SOUTHTOWNE)	SOUTHTOWNE KINGS HIGHWAY & CHIPPEWA		63109	SC		2004		1998			100.00	%		67,628		67,628		1,052,058	OFFICE MAX(2014)
349 ST.LOUIS,MO (BRENTWOOD)	PROMENADE AT BRENTWOOD 1 BRENTWOOD PROMENADE COURT		63144	SC		1998		1998			100.00	%		299,584		299,584		4,022,889	TARGET(2023), BED BATH & BEYOND(2009), PETSMART(2014), LANE HOME FURNISHINGS(2013)
350 ST.LOUIS,MO (GRAVOIS VILLAGE)	GRAVOIS VILLAGE 4523 GRAVOIS VILLAGE PLAZA		63049	SC		1983		1998			100.00	%		110,992		114,992		558,492	K MART(2008)
351 ST.LOUIS,MO (OLYMPIC OAKS)	OLYMPIC OAKS VILLAGE 12109 MANCHESTER ROAD		63121	SC		1985		1998			100.00	%		92,372		92,372		1,150,925	T.J. MAXX(2008)
Nevada
352 CARSON CITY, NV	EAGLE STATION 3871 S CARSON STREET		89701	FO		1983		2005			50.00	%		60,494		60,494		543,660	MERVYN’S(2020)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 19 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
353 LAS VEGAS, NV (MARYLAND)	FAMILY PLACE @ LAS VEGAS CHARLESTON & MARYLAND BLVD		89102	SC		2003		1	*		100.00	%		24,032		27,300		445,256
354 LAS VEGAS, NV(LOMA)	LOMA VISTA SHOPPING CENTER 4700 MEADOWS LANE		89107	FO		1979		2005			50.00	%		75,687		75,687		765,000	MERVYN’S(2020)
355 LAS VEGAS, NV(NELLIS)	NELLIS CROSSING SHOPPING 1300 S NELLIS BLVD.		89104	FO		1986		2005			50.00	%		76,016		76,016		683,400	MERVYN’S(2020)
356 RENO, NV(SIERRA)	SIERRA TOWN CENTER 6895 SIERRA CENTER PARKWAY		89511	FO		2002		2005			50.00	%		79,239		79,239		623,220	MERVYN’S(2020)
357 RENO, NV.	RENO RIVERSIDE EAST FIRST STREET AND SIERRA		89505	SC		2000		2000			100.00	%		52,474		52,474		696,681	CENTURY THEATRE(2014)
358 SW LAS VEGAS, NV	GRAND CANYON PARKWAY S. C. 4265 S. GRAND CANYON DRIVE		89147	FO		2003		2005			50.00	%		79,294		79,294		890,460	MERVYN’S(2020)
New Jersey
359 BRICK, NJ	BRICK CENTER PLAZA 51 CHAMBERS BRIDGE ROAD		08723	SC		1999		2007			100.00	%		114,028		114,028		1,848,403	BEST BUY(2015), BED BATH & BEYOND(2010), SEAMANS FURNITURE STORE(2011)
360 EAST HANOVER, NJ(PLAZA)	EAST HANOVER PLAZA 154 STATE ROUTE 10		07936	SC		1994		2007			100.00	%		97,500		97,500		1,542,308	NAMCO POOL SUPPLIES(2017), SPORTS AUTHORITY(2012)
361 EAST HANOVER, NJ(SONY)	SONY THEATRE COMPLEX 145 STATE ROUTE 10		07936	SC		1993		2007			100.00	%		20,737		43,404		1,023,336
362 EDGEWATER, NJ	EDGEWATER TOWN CENTER 905 RIVER ROAD		07020	LC		2000		2007			100.00	%		77,508		77,508		2,524,987	WHOLE FOODS(2020)
363 FREEHOLD, NJ	FREEHOLD MARKETPLACE NJ HWY 33 & W. MAIN ST(RT537)		07728	SC		2005		1	*		100.00	%		0		307,270		0	WALMART(NOT OWNED), SAM’S CLUB(NOT OWNED)
364 HAMILTON, NJ	HAMILTON MARKETPLACE NJ STATE HWY 130 & KLOCKNER RD		08691	SC		2004		2003			100.00	%		446,940		935,620		7,910,993	STAPLES(2015), KOHL’S(2023), LINENS ‘N THINGS(2014), MICHAEL’S(2013), ROSS DRESS FOR LESS(2014), SHOPRITE(2028), BARNES & NOBLE(2014), WALMART(NOT OWNED), BJ’S WHOLESALE(NOT OWNED), LOWE’S(NOT OWNED)
365 JERSEY CITY, NJ	440 COMMONS 440 STATE RTE #440		07305	SC		1997		2007			100.00	%		162,533		162,533		1,514,544	HOME DEPOT(2018), SEAMANS FURNITURE STORE(2009)
366 LUMBERTON, NJ	CROSSROADS PLAZA 1520 ROUTE 38		08036	SC		2003		2007			100.00	%		89,627		89,627		1,536,847	SHOPRITE(2024)
367 MAYS LANDING, NJ (HAMILTON)	HAMILTON COMMONS 4215 BLACK HORSE PIKE		08330	SC		2001		2004			100.00	%		398,870		398,870		5,924,836	REGAL CINEMAS(2021), ROSS DRESS FOR LESS(2012), BED BATH & BEYOND(2017), MARSHALLS(2012), SPORTS AUTHORITY(2015), CIRCUIT CITY(2020)
368 MAYS LANDING, NJ (WRANGLEBORO)	WRANGLEBORO CONSUMER SQUARE 2300 WRANGLEBORO ROAD		08330	SC		1997		2004			100.00	%		839,019		839,019		9,621,897	BORDERS(2017), BEST BUY(2017), KOHL’S(2018), STAPLES(2012), BABIES R US(2013), BJ’S WHOLESALE CLUB(2016), DICK’S SPORTING GOODS(2013), LINENS ‘N THINGS(2012), MICHAEL’S(2008), TARGET(2023), PETSMART(2013)
369 MT. LAUREL, NJ	CENTERTON SQUARE CENTERTON ROAD & MARTER AVE		08054	SC		2005		1	*		100.00	%		284,177		713,973		6,671,795	BED BATH & BEYOND(2015), PETSMART(2015), DSW SHOE WAREHOUSE(2015), JO-ANN STORES(2015), T.J. MAXX(2015), SPORTS AUTHORITY(2016), WEGMANS(NOT OWNED), COSTCO(NOT OWNED), TARGET(NOT OWNED)
370 PRINCETON, NJ	NASSAU PARK SHOPPING CENTER ROUTE 1 & QUAKER BRIDGE ROAD		02071	SC		1995		1997			100.00	%		289,452		798,261		5,671,022	BORDERS(2011), BEST BUY(2012), LINENS ‘N THINGS(2011), PETSMART(2011), BABIES R US(2016), TARGET(NOT OWNED)
371 PRINCETON, NJ (PAVILION)	NASSAU PARK PAVILION ROUTE 1 AND QUAKER BRIDGE ROAD		02071	SC		1999/2004		1	*		100.00	%		202,622		309,285		3,963,879	DICK’S SPORTING GOODS(2015), MICHAEL’S(2009), KOHL’S(2019), WEGMAN’S FOOD MARKETS, INC.(NOT OWNED)
372 UNION, NJ	ROUTE 22 RETAIL SHOPPING CENTE 2700 US HWY 22 E		07083	SC		1997		2007			100.00	%		110,453		110,453		2,777,684	CIRCUIT CITY(2018), BABIES R US(2017)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 20 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
373 WEST LONG BRANCH, NJ(MONMOUTH)	MONMOUTH CONSUMER CENTER 310 STATE HIGHWAY #36		07764	SC		1993		2004			100.00	%		292,999		292,999		4,035,362	SPORTS AUTHORITY(2012), BARNES & NOBLE(2009), PETSMART(2008), HOME DEPOT(2013)
374 WEST PATERSON, NJ	WEST FALLS PLAZA 1730 ROUTE 46		07424	SC		1995		2007			100.00	%		81,261		88,913		1,917,571	A & P COMPANY(2021)
New Mexico
375 LOS ALAMOS, NM	MARI MAC VILLAGE 800 TRINITY DRIVE		87533	SC		1978/1997		1/2	*		100.00	%		93,021		93,021		662,544	SMITH’S FOOD & DRUG(2012), FURR’S PHARMACY(2008), BEALLS(2009)
New York
376 AMHERST, NY (BOULEVAR)	BOULEVARD CONSUMER SQUARE 1641-1703 NIAGARA FALLS BLVD		14228	SC		1998/2001/2003		2004			100.00	%		573,952		709,114		6,486,476	TARGET(2019), K MART(2008), BABIES R US(2015), BARNES & NOBLE(2014), BEST BUY(2016), BED BATH & BEYOND(2018), A.C. MOORE(2013), LOWES(NOT OWNED)
377 AMHERST, NY (BURLINGTON/JOANN)	BURLINGTON PLAZA 1551 NIAGARA FALLS BOULEVARD		14228	SC		1978/1982/1990/1998		2004			100.00	%		199,504		199,504		2,074,623	BURLINGTON COAT FACTORY(2014), JO-ANN STORES(2014)
378 AMHERST, NY (SHERIDAN/HARLEM)	SHERIDAN HARLEM PLAZA 4990 HARLEM ROAD		14226	SC		1960/1973/1982/1988/ 2003		2004			100.00	%		58,413		58,413		633,460
379 AMHERST, NY (TOPS ROBINSON)	TOPS PLAZA — AMHERST 3035 NIAGRA FALLS BLVD.		14226	SC		1986		2004			20.00	%		145,192		145,192		1,145,925	TOPS MARKETS(2010)
380 AMHERST, NY (TOPS)	TOPS PLAZA — TRANSIT/N. FRENCH 9660 TRANSIT ROAD		14226	SC		1995/1998		2004			100.00	%		114,177		114,177		1,175,263	TOPS MARKETS(2016)
381 AMHERST, NY (UNIVERSITY PLAZA)	UNIVERSITY PLAZA 3500 MAIN STREET		14226	SC		1965/1995/2002		2004			100.00	%		162,879		162,879		1,388,970	A.J. WRIGHT(2012), TOPS MARKETS(2009)
382 AMHERST, NY(ECKERD)	ECKERD DRUG STORE #5018 2545 MILLERSPORT HWY		14068	SC		2000		2007			100.00	%		10,908		10,908		250,489
383 ARCADE, NY (TOPS)	TOPS PLAZA-ARCADE ROUTE 39		14009	SC		1995		2004			10.00	%		65,915		65,915		662,409	TOPS MARKETS(2015)
384 AVON, NY (TOPS)	TOPS PLAZA-AVON 270 E. MAIN STREET		14414	SC		1997/2002		2004			10.00	%		63,288		63,288		454,162	TOPS MARKETS(2017)
385 BATAVIA, NY (BJS)	BJS PLAZA 8326 LEWISTON ROAD		14020	SC		1996		2004			14.50	%		95,846		95,846		823,621	BJ’S WHOLESALE CLUB(2016)
386 BATAVIA, NY (COMMONS)	BATAVIA COMMONS 419 WEST MAIN ST		14020	SC		1990		2004			14.50	%		49,431		49,431		530,599
387 BATAVIA, NY (MARTIN’S PLAZA)	MARTIN’S PLAZA 8351 LEWISTON ROAD		14020	SC		1994		2004			14.50	%		37,140		115,161		445,778	MARTIN’S(NOT OWNED)
388 BIG FLATS, NY (BIG FLATS I)	BIG FLATS CONSUMER SQUARE 830 COUNTY ROUTE 64		14814	SC		1993/2001		2004			100.00	%		641,264		641,264		6,173,445	DICK’S SPORTING GOODS(2008), WAL-MART(2013), SAM’S CLUB(2013), TOPS MARKETS(2013), BED BATH & BEYOND(2014), MICHAEL’S(2010), OLD NAVY(2009), STAPLES(2011), BARNES & NOBLE(2011), T.J. MAXX(2007)
389 BUFFALO, NY (ELMWOOD)	ELMWOOD REGAL CENTER 1951 — 2023 ELMWOOD AVENUE		14207	SC		1997		2004			100.00	%		133,940		133,940		1,524,235	REGAL CINEMAS(2017), OFFICE DEPOT(2012)
390 BUFFALO, NY (MARSHALLS)	MARSHALLS PLAZA 2150 DELAWARE AVENUE		14216	SC		1960/1975/1983/1995		2004			100.00	%		82,196		82,196		799,587	MARSHALLS(2009)
391 BUFFALO, NY(DELAWARE-TARGET)	DELAWARE CONSUMER SQUARE 2636-2658 DELAWARE AVENUE		14216	SC		1995		2004			100.00	%		238,531		238,531		2,138,328	A.J. WRIGHT(2012), OFFICE MAX(2012), TARGET(2015)
392 BUFFALO, NY(ECKERD)	ECKERD DRUG STORE #5661 1625 BROADWAY STREET		14212	SC		2000		2007			100.00	%		12,739		12,739		280,861

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Appendix — Property Listing 1.0

Does Not Include Service Merchandise Interests

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 21 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
393 CANANDAIGUA, NY	TOPS PLAZA 5150 NORTH STREET		14424	SC		2002		2004		100.00	%		57,498		57,498		769,500	TOPS MARKETS(2023)
394 CHEEKTOWAGA, NY (BORDERS)	BORDERS BOOKS 2015 WALDEN AVENUE		14225	SC		1994		2004		14.50	%		26,500		26,500		609,500	BORDERS(2015)
395 CHEEKTOWAGA, NY (DICKS)	UNION ROAD PLAZA 3637 UNION ROAD		14225	SC		1979/1982/1997/2003		2004		14.50	%		174,438		174,438		1,199,969	DICK’S SPORTING GOODS(2015)
396 CHEEKTOWAGA, NY (THRUWAY)	THRUWAY PLAZA 2195 HARLEM ROAD		14225	SC		1997		2004		100.00	%		382,098		514,430		2,665,509	WAL-MART(2017), MOVIELAND 8 THEATRES(2019), TOPS MARKETS(2019), A.J. WRIGHT(2015), VALUE CITY FURNITURE(2009), M & T BANK(2017), HOME DEPOT(NOT OWNED)
397 CHEEKTOWAGA, NY (TOPS UNION)	TOPS PLAZA — UNION ROAD 3825 — 3875 UNION ROAD		14225	SC		1978/1989/1995/2004		2004		20.00	%		151,357		151,357		1,577,674	TOPS MARKETS(2013)
398 CHEEKTOWAGA, NY (UNION CONS)	UNION CONSUMER SQUARE 3733 — 3735 UNION ROAD		14225	SC		1989		2004		14.50	%		386,548		386,548		4,377,927	MARSHALLS(2009), OFFICE MAX(2010), SAM’S CLUB(2024), CIRCUIT CITY(2016), JO-ANN STORES(2015)
399 CHEEKTOWAGA, NY (WALDEN PLACE)	WALDEN PLACE 2130-2190 WALDEN AVENUE		14225	SC		1994/1999		2004		14.50	%		68,002		68,002		268,688
400 CHEEKTOWAGA, NY (WALDEN)	CONSUMER SQUARE 1700 — 1750 WALDEN AVENUE		14225	SC		1997/1999/2004		2004		14.50	%		255,964		255,964		2,406,896	OFFICE DEPOT(2009), LINENS ‘N THINGS(2015), MICHAEL’S(2013), TARGET(2015)
401 CHEEKTOWAGA, NY(ECKERD)	ECKERD DRUG STORE #5797 2401 GENNESEE STREET		14225	SC		2000		2007		100.00	%		10,908		10,908		335,592
402 CHILI, NY (KMART)	CHILI PLAZA 800 PAUL ROAD		14606	SC		1998		2004		100.00	%		116,868		120,368		748,189	SEARS(2019)
403 CICERO, NY (BEAR RD)	BEAR ROAD PLAZA 709-729 NORTH MAIN STREET		13212	SC		1978/1988/1995		2004		100.00	%		59,483		59,483		367,423
404 CLARENCE, NY (BARNES)	BARNES & NOBLE 7370 TRANSIT ROAD		14031	SC		1992		2004		14.50	%		16,030		16,030		304,249
405 CLARENCE, NY (EASTGATE)	EASTGATE PLAZA TRANSIT & GREINER ROADS		14031	SC		1995		2004		14.50	%		520,876		520,876		4,160,296	BJ’S WHOLESALE CLUB(2 021), DICK’S SPORTING GOODS(2011 ), LINENS ‘N THINGS(2015), MICHAEL’S(2010), WAL-MART(2019)
406 CLARENCE, NY (JOANN)	JOANN PLAZA 4101 TRANSIT ROAD		14221	SC		1994		2004		14.50	%		92,720		202,720		743,588	OFFICE MAX(2009), JO-ANN STORES(2015), BIG LOTS(2015), HOME DEPOT(NOT OWNED)
407 CORTLAND, NY (STAPLES)	TOPS PLAZA — CORTLAND STAPLES 3836 ROUTE 281		13045	SC		1995		2004		100.00	%		134,223		134,223		1,731,453	TOPS MARKETS(2016), STAPLES(2017)
408 DANSVILLE, NY (TOPS)	TOPS PLAZA — DANSVILLE 23-65 FRANKLIN STREET		14437	SC		2001		2004		100.00	%		67,400		67,400		629,039	TOPS MARKETS(2021)
409 DEPEW, NY	TOPS PLAZA — DEPEW 5175 BROADWAY		14043	SC		1980/1990/1996		2004		100.00	%		148,245		148,245		1,473,434	TOPS MARKETS(2016), BIG LOTS(2011)
410 DEWITT, NY (DEWITT COMMONS)	MARSHALLS PLAZA 3401 ERIE BOULEVARD EAST		13214	SC		2001/2003		2004		100.00	%		304,177		304,177		2,998,784	TOYS R US(2018), OLD NAVY(2011), MARSHALLS(2019), BED BATH & BEYOND(2018), A.C. MOORE(2014), SYRACUSE ORTHOPEDIC SPECIALIST(2017)
411 DEWITT, NY (MICHAELS)	MICHAELS — DEWITT 3133 ERIE BOULEVARD		13214	SC		2002		2004		100.00	%		49,713		49,713		570,166	MICHAEL’S(2010)
412 DUNKIRK, NY	ECKERD DRUG STORE #5786 1166 CENTRAL AVENUE		14048	SC		2000		2007		100.00	%		10,908		10,908		210,569
413 ELIMIRA, NY (TOPS)	TOPS PLAZA-ELMIRA HUDSON STREET		14904	SC		1997		2004		20.00	%		98,330		98,330		1,117,100	TOPS MARKETS(2017)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 22 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
414 GATES, NY (WAL-MART)	WESTGATE PLAZA 2000 CHILI AVENUE		14624	SC		1998		2004		100.00	%		334,752		334,752		3,185,783	WAL-MART(2021), STAPLES(2015)
415 GREECE, NY	JOANN/PETSMART PLAZA 3042 WEST RIDGE ROAD		14626	SC		1993/1999		2004		100.00	%		75,916		75,916		799,191	PETSMART(2008), JO-ANN STORES(2015)
416 HAMBURG, NY (BJS)	BJS PLAZA — HAMBURG 4408 MILESTRIP ROAD		14075	SC		1990/1997		2004		100.00	%		175,965		175,965		1,725,858	OFFICE MAX(2010), BJ’S WHOLESALE CLUB(2010)
417 HAMBURG, NY (DICKS-PIER 1)	MCKINLEY PLACE 3701 MCKINLEY PARKWAY		14075	SC		1990/2001		2004		100.00	%		128,944		128,944		1,545,277	DICK’S SPORTING GOODS(2011), ROSA’S HOME STORE(2009)
418 HAMBURG, NY (HAMBURG VILLAGE)	HAMBURG VILLAGE SQUARE 140 PINE STREET		14075	SC		1960/1972/1984/1996		2004		100.00	%		92,717		92,717		883,000
419 HAMBURG, NY (HOME DEPOT)	HOME DEPOT PLAZA — HAMBURG 4405 MILESTRIP ROAD		14219	SC		1999/2000		2004		100.00	%		139,413		139,413		1,507,396	HOME DEPOT(2012)
420 HAMBURG, NY (MILESTRIP)	MCKINLEY MILESTRIP CENTER 3540 MCKINLEY PARKWAY		14075	SC		1999		2004		100.00	%		106,774		106,774		1,472,383	OLD NAVY(2010), JO-ANN STORES(2015)
421 HAMBURG, NY (TOPS)	SOUTH PARK PLAZA-TOPS 6150 SOUTH PARK AVENUE		14075	SC		1990/1992		2004		10.00	%		84,000		84,000		730,500	TOPS MARKETS(2015)
422 HAMLIN, NY (TOPS)	TOPS PLAZA-HAMLIN 1800 LAKE ROAD		14464	SC		1997		2004		10.00	%		60,488		60,488		491,705	TOPS MARKETS(2017)
423 IRONDEQUOIT, NY (CULVER RIDGE)	CULVER RIDGE PLAZA 2255 RIDGE ROAD EAST		14622	SC		1972/1984/1997		2004		20.00	%		226,812		226,812		2,277,143	REGAL CINEMAS(2022), A.J. WRIGHT(2014)
424 IRONDEQUOIT, NY (RIDGEVIEW)	RIDGEVIEW PLACE 1850 RIDGE ROAD EAST		14617	SC		2000		2004		100.00	%		64,732		64,732		836,241
425 ITHACA, NY (TOPS)	TOPS PLAZA — ITHACA 614 — 722 SOUTH MEADOW		14850	SC		1990/1999/2003		2004		100.00	%		229,320		229,320		3,554,447	OFFICE DEPOT(2014), TOPS MARKETS(2022) , MICHAEL’S(2013), BARNES & NOBLE(2018)
426 JAMESTOWN, NY (PROGRESSIVE)	TOPS PLAZA — JAMESTOWN 75 WASHINGTON STREET		14702	SC		1997		2004		20.00	%		98,001		98,001		1,178,454	TOPS MARKETS(2018)
427 JAMESTOWN, NY (SOUTHSIDE)	SOUTHSIDE PLAZA 708-744 FOOTE AVENUE		14701	SC		1980/1997		2004		100.00	%		63,140		63,140		576,569	QUALITY MARKET(2017)
428 LANCASTER, NY (REGAL)	REGAL CENTER 6703-6733 TRANSIT ROAD		14221	SC		1997		2004		14.50	%		112,949		112,949		928,860	REGAL CINEMAS(2017)
429 LEROY, NY (TOPS)	TOPS PLAZAL — LEROY 128 WEST MAIN STREET		14482	SC		1997		2004		20.00	%		62,747		62,747		583,543	TOPS MARKETS(2017)
430 LOCKPORT, NY	WAL-MART/TOPS PLAZA — LOCKPORT 5789 & 5839 TRANSIT RD. & HAMM		14094	SC		1993		2004		100.00	%		296,582		296,582		2,727,678	WAL-MART(2015), TOPS MARKETS(2021), SEARS(2011)
431 MONTICELLO, NY	THOMPSON SQUARE MALL 4058 ROUTE 42 NORTH		12701	SC		2004		2007		100.00	%		241,052		241,052		1,865,286	HOME DEPOT(2025), SHOPRITE(2025)
432 NEW HARTFORD, NY	CONSUMER SQUARE 4725 — 4829 COMMERCIAL DRIVE		13413	SC		2002		2004		14.50	%		514,717		514,717		6,170,086	BARNES & NOBLE(2013), BED BATH & BEYOND(2018), BEST BUY(2013), STAPLES(2018), MICHAEL’S(2013), WAL-MART(2022), T.J. MAXX(2012)
433 NEW HARTFORD, NY (TOPS)	TOPS PLAZA — NEW HARTFORD 40 KELLOGG ROAD		13413	SC		1998		2004		100.00	%		127,777		127,777		1,124,310	HANNAFORD BROTHERS(2018)
434 NIAGARA FALLS, NY (HOME DEPOT)	HOME DEPOT PLAZA — N FALLS 720 & 750 BUILDERS WAY		14304	SC		1994/2000		2004		100.00	%		43,842		154,510		577,615	REGAL CINEMAS(2019), HOME DEPOT(NOT OWNED)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 23 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
435 NIAGARA FALLS, NY (PINE PLAZA)	PINE PLAZA 8207-8351 NIAGARA FALLS BLVD.		14304	SC		1980/1992/1998		2004		100.00	%		83,273		83,273		709,286	OFFICE MAX(2015)
436 NIAGARA FALLS, NY (WEGMANS)	WEGMANS PLAZA — N FALLS 1575 — 1653 MILITARY ROAD		14304	SC		1998		2004		100.00	%		122,876		122,876		701,855	WEGMAN’S FOOD MARKETS(2023)
437 NISKAYUNA, NY	MOHAWK COMMONS 402 — 442 BALLTOWN ROAD		12121	SC		2002		2004		100.00	%		399,901		530,375		4,629,299	PRICE CHOPPER(2022), LOWE’S(2022), MARS HALLS(2012), BARNES & NOBLE(2014), BED BATH & BEYOND(2019), TARGET(NOT OWNED)
438 NORTH TONAWANDA, NY (SEARS)	MID-CITY PLAZA 955-987 PAYNE AVENUE		14120	SC		1960/1976/1980/1995/ 2004		2004		100.00	%		224,949		224,949		2,074,559	TOPS MARKETS(2024)
439 NORWICH, NY (TOPS)	TOPS PLAZA-NORWICH 54 EAST MAIN STREET		13815	SC		1997		2004		10.00	%		85,453		85,453		1,087,185	TOPS MARKETS(2018)
440 OLEAN, NY (WAL-MART)	WAL-MART PLAZA — OLEAN 3142 WEST STATE STREET		14760	SC		1993/2004		2004		100.00	%		285,400		401,406		2,141,252	WAL-MART(2014), EASTWYNN THEATRES(2014), BJ’S WHOLESALE CLUB(2014), HOME DEPOT(NOT OWNED)
441 ONTARIO, NY (TOPS-BLOCKBUSTER)	TOPS PLAZA — ONTARIO BLOCKBUST 6254 — 6272 FURNACE ROAD		14519	SC		1998		2004		20.00	%		77,040		77,040		735,054	TOPS MARKETS(2019)
442 ORCHARD PARK, NY (BLOCKBUSTER)	CROSSROAD PLAZA 3245 SOUTHWESTERN BOULEVARD		14127	SC		2000		2004		20.00	%		167,805		279,920		1,802,353	TOPS MARKETS(2022), STEIN MART(2012), LOWES(NOT OWNED)
443 PLATTSBURGH, NY	CONSUMER SQUARE RT. 3 — CORNELIA ROAD		12901	SC		1993/2004		2004		100.00	%		491,513		491,513		3,452,394	SAM’S CLUB(2013), WAL-MART(2020), T.J. MAXX(2013), PETSMART(2014), MICHAEL’S(2011)
444 ROCHESTER, NY (HEN-JEF)	HEN-JEF PLAZA 400 JEFFERSON RD @ HENRIETTA		14620	SC		1983/1993		2004		100.00	%		159,517		159,517		1,470,725	CITY MATTRESS(2009), COMPUSA(2008), PETSMART(2008), STEVE & BARRY’S(2014), TILE SHOP, THE(2015)
445 ROCHESTER, NY (PANORAMA)	PANORAMA PLAZA 1601 PENFIELD ROAD		14625	SC		1959/1965/1972/1980/ 1986/1994		2004		20.00	%		278,241		278,241		3,297,320	LINENS ‘N THINGS(2008), TOPS MARKETS(2014)
446 ROCHESTER, NY(HENRIETTA PLAZA)	HENRIETTA PLAZA 1100 JEFFERSON ROAD		14467	SC		1972/1980/1988/1999		2004		100.00	%		245,426		245,426		1,933,123	BIG LOTS(2010), OFFICE DEPOT(2009), TOPS MARKETS(2013)
447 ROME, NY (FREEDOM)	FREEDOM PLAZA 205-211 ERIE BOULEVARD WEST		13440	SC		1978/2000/2001		2004		100.00	%		194,467		197,397		1,192,712	STAPLES(2015), J.C. PENNEY(2008), TOPS MARKETS(2021), MARSHALLS(2016)
448 TONAWANDA, NY (BIG LOTS)	YOUNGMAN PLAZA 750 YOUNG STREET		14150	SC		1985/ 2003		2004		10.00	%		310,921		318,166		2,324,739	BJ’S WHOLESALE CLUB(2010), BIG LOTS(2012), GANDER MOUNTAIN(2015), TOPS MARKETS(2021)
449 TONAWANDA, NY (DEL-TON)	DEL-TON PLAZA 4220 DELAWARE AVENUE		14150	SC		1985/1996		2004		100.00	%		55,473		55,473		375,366
450 TONAWANDA, NY (OFFICE DEPOT)	OFFICE DEPOT PLAZA 2309 EGGERT ROAD		14150	SC		1976/1985/1996		2004		100.00	%		121,846		121,846		1,123,578	COMPUSA(2010), OFFICE DEPOT(2011)
451 TONAWANDA, NY (SHER/DELAWARE)	SHERIDAN/DELAWARE PLAZA 1692-1752 SHERIDAN DRIVE		14223	SC		1950/1965/1975/1986/ 2000		2004		100.00	%		188,200		188,200		1,342,913	BON TON HOME STORE(2010), BON TON HOME STORE(2010), TOPS MARKETS(2020)
452 TONAWANDA, NY (TOPS)	TOPS PLAZA-NIAGARA STREET 150 NIAGARA STREET		14150	SC		1997		2004		10.00	%		97,014		97,014		1,238,440	TOPS MARKETS(2017)
453 UTICA, NY (TOPS-DOLLAR TREE)	TOPS PLAZA — DOLLAR TREE 1154 MOHAWK STREET		13501	SC		1961/1972/1988/1998		2004		100.00	%		243,047		243,047		1,457,357	A.J. WRIGHT(2014), HANNAFORD BROTHERS(2025)
454 VICTOR, NY	VICTOR SQUARE 2-10 COMMERCE DRIVE		14564	SC		2000		2004		100.00	%		56,134		56,134		913,696
455 WARSAW, NY (TOPS)	TOPS PLAZA — WARSAW 2382 ROUTE 19		14569	SC		1998		2004		20.00	%		74,105		74,105		702,899	TOPS MARKETS(2015)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 24 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
456 WEST SENECA, NY (HOME DEPOT)	HOME DEPOT PLAZA 1881 RIDGE ROAD		14224	SC		1975/1983/1987/1995		2004		100.00	%		139,453		139,453		1,400,105	HOME DEPOT(2016)
457 WEST SENECA, NY (SENECA RIDGE)	SENECA — RIDGE PLAZA 3531 SENECA STREET		14224	SC		1980/1996/2004		2004		100.00	%		62,403		62,403		291,082
458 WILLIAMSVILLE, NY	WILLIAMSVILLE PLACE 5395 SHERIDAN DRIVE		14221	SC		1986/1995/2003		2004		100.00	%		98,846		98,846		996,613
459 WILLIAMSVILLE, NY (PREMIER)	PREMIER PLACE 7864 — 8020 TRANSIT ROAD		14221	SC		1986/1994/1998		2004		14.50	%		142,536		142,536		1,295,070	PREMIER LIQUORS(2010), STEIN MART(2008)
North Carolina
460 APEX, NC (SOUTH)	BEAVER CREEK CROSSINGS SOUTH 1335 W WILLIAMS STREET		27502	SC		2006		1 *		100.00	%		207,524		219,764		2,150,267	DICK’S SPORTING GOODS(2017), CONSOLIDATED THEATRES(2026), T.J. MAXX(2016), CIRCUIT CITY(2022), BORDERS(2022)
461 APEX, NC(COMMONS)	BEAVER CREEK COMMONS 1335 W WILLIAMS STREET		27502	SC		2005		1 *		100.00	%		119,129		452,383		2,458,111	LINENS ‘N THINGS(2016), OFFICE MAX(2014), SUPER TARGET(NOT OWNED), LOWE’S(NOT OWNED)
462 ASHEVILLE, NC(OAKLEY)	OAKLEY PLAZA FAIRVIEW RD AT INTERSTATE 240		28801	SC		1988		2007		100.00	%		129,287		129,287		973,583	BABIES R US(2011), BI-LO(2016)
463 ASHEVILLE, NC(RIVER)	RIVER HILLS 299 SWANNANOA RIVER ROADD		28805	SC		1996		2003		14.50	%		190,970		190,970		2,043,192	GOODY’S(2007), CARMIKE CINEMAS(2017), CIRCUIT CITY(2017), DICK’S SPORTING GOODS(2017), MICHAEL’S(200 8), OFFICE MAX(2011)
464 CANDLER, NC	BI-LO — ASHEVILLE 511 SMOKEY PARK HWY		28715	SC		2003		2007		100.00	%		54,319		54,319		663,428	BI-LO(2021)
465 CARY, NC(CIRCUIT CITY)	CIRCUIT CITY — CARY 1401 PINEY PLAINS RD		27511	SC		2000		2007		100.00	%		27,891		27,891		526,500	CIRCUIT CITY(2022)
466 CARY, NC(MILL POND)	MILL POND VILLAGE 3434-3490 KILDAIRE FARM ROAD		27512	SC		2004		2007		100.00	%		88,784		135,204		1,256,964	LOWE’S FOODS(2021)
467 CHAPEL HILL, NC	MEADOWMONT VILLAGE CENTER W. BARBEE CHAPEL RD		27517	SC		2002		2007		100.00	%		132,745		132,745		2,507,045	HARRIS TEETER SUPERMARKETS(2022)
468 CHARLOTTE, NC(BJ’S)	BJ’S WHOLESALE CLUB 6030 INDEPENDENCE BLVD		28212	SC		2002		2007		100.00	%		99,792		99,792		1,173,448	BJ’S WHOLESALE CLUB(2022)
469 CHARLOTTE, NC(CAMFIELD)	CAMFIELD CORNERS 8620 CAMFIELD STREET		28277	SC		1994		2007		100.00	%		69,910		69,910		825,710	BI-LO(2014)
470 CHARLOTTE, NC(CITISIDE)	SHOPPES AT CITISIDE 4430 THE PLAZA		29205	SC		2002		2007		100.00	%		75,485		75,485		971,276	BI-LO(2022)
471 CLAYTON, NC	CLAYTON CORNERS US HIGHWAY 70 WEST		27520	SC		1999		2007		100.00	%		125,653		125,653		1,324,038	LOWE’S FOODS(2019)
472 CONCORD, NC(CROSSING)	CONCORD CROSSING US HWY 601 & ZION CHURCH ROAD		28025	SC		1994		2007		100.00	%		55,930		55,930		495,951	BI-LO(2014)
473 CONCORD, NC(ECKERD)	ECKERD DRUG STORE — CONCORD HIGHWAY #29 @ PITTS SCHOOL		28027	SC		2002		2007		100.00	%		10,908		10,908		227,814
474 CORNELIUS, NC	SOUTHLAKE SHOPPING CENTER 20601 TORRENCE CHAPE L ROAD		28031	SC		2001		2007		100.00	%		131,247		131,247		1,345,718	STEIN MART(2008), HARRIS TEETER SUPERMARKETS(2009)
475 DURHAM, NC	PATTERSON PLACE 3616 WITHERSPOON BLVD.		27707	SC		2004		2007		20.00	%		206,265		206,265		2,322,978	DSW SHOE WAREHOUSE(2016), A.C. MO ORE(2014), BED BATH & BEYOND(2020), KOHL’S(2050)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 25 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
476 DURHAM, NC(OXFORD)	OXFORD COMMONS 3500 OXFORD ROAD		27702	SC		1990/2001		1/2	*		100.00	%		203,069		321,335		1,263,092	FOOD LION(2010), BURLINGTON COAT FACTORY(2012), WAL-MART(NOT OWNED)
477 DURHAM, NC(SOUTH)	SOUTH SQUARE 4001 DURHAM CHAPEL		27707	SC		2005		2007			20.00	%		107,812		288,934		1,639,842	OFFICE DEPOT(2010), ROSS DRESS FOR LESS(2015)
478 FAYETTEVILLE, NC	CROSS POINTE CENTRE 5075 MORGANTON ROAD		28314	SC		1985/2003		2003			100.00	%		196,279		196,279		1,525,400	DEVELOPERS REALTY CORP.(2012), T.J. MAXX(2011), BED BATH & BEYOND(2014)
479 FAYETTEVILLE, NC(PAVILION)	FAYETTEVILLE PAVILION 2061 SKIBO ROAD		28314	SC		1998/2001		2007			100.00	%		272,385		272,385		3,085,042	DICK’S SPORTING GOODS(2017), LINENS ‘N THINGS(2016), PETSMART(2016), CREATIVE BASKET EXPRESSIONS(2020), MARSHALLS(2008), MICHAEL’S(2009)
480 FUQUAY VARINA, NC	SEXTON COMMONS 1420 N MAIN ST		27526	SC		2002		2007			100.00	%		49,097		49,097		763,534	HARRIS TEETER SUPERMARKETS(2021)
481 GASTONIA, NC	REDBUD COMMONS S.NEW HOPE ROAD & REDBUD DRIVE		28056	SC		2004		2007			100.00	%		63,937		63,937		763,751	BI-LO(2024)
482 GREENSBORO, NC(ADAMS)	ADAMS FARM 5710 HIGH POINT ROAD		27407	SC		2004		2007			100.00	%		112,195		112,195		1,012,923	HARRIS TEETER SUPERMARKETS(2008)
483 GREENSBORO, NC(GOLDEN)	GOLDEN GATE EAST CORNWALLIS DR		27405	SC		1962/2002		2007			100.00	%		153,113		153,113		1,194,191	HARRIS TEETER SUPERMARKETS(2011), STAPLES(2016), FOOD LION(2012)
484 GREENSBORO, NC(WENDOVER I)	SHOPPES AT WENDOVER VILLAGE I 4203-4205 WEST WENDOVER AVENUE		27407	SC		2004		2007			100.00	%		35,895		35,895		797,840
485 GREENSBORO, NC(WENDOVER II)	WENDOVER II WEST WENDOVER AVE		27407	SC		2004		2007			20.00	%		135,004		135,004		2,209,415	A.C. MOORE(2014), CIRCUIT CITY(2020), SOFA CONNECTION(2014)
486 HENDERSONVILLE, NC	EASTRIDGE CROSSING 200 THOMPSON STREET		28792	SC		1995/2004		2003			100.00	%		124,432		159,429		655,827	EPIC THEATRES(2018), INGLES(2009), BURKE’ S OUTLET(2011), BIG LOTS(NOT OWNED)
487 HUNTERSVILLE, NC	BIRKDALE VILLAGE RETAIL (TIAA) BIRKDALE COMMONS PKY AND SAM FURR RD		28078	LC		2003		2007			15.00	%		310,874		321,315		7,314,492	BARNES & NOBLE(2013), DICK ‘S SPORTING GOODS(2018)
488 HUNTERSVILLE, NC (ROSEDALE)	ROSEDALE SHOPPING CENTER 9911 ROSE COMMONS DR		28078	SC		2000		2007			100.00	%		119,197		119,197		1,891,446	HARRIS TEETER SUPERMARKETS(2020)
489 INDIAN TRAIL, NC	UNION TOWN CENTER INDEPENDENCE & FAITH CHURCH RD		28079	SC		1999		2004			100.00	%		96,160		96,160		842,360	FOOD LION(2020)
490 JACKSONVILLE, NC(GATEWAY)	GATEWAY PLAZA — JACKSONVILLE ( SEC WESTERN BLVD AND GATEWAY SOUTH		28546	SC		2001		2007			15.00	%		101,413		248,259		1,123,402	BED BATH & BEYOND(2013), ROSS DRESS FOR LESS(2013)
491 JAMESTOWN, NC	FORESTDALE PLAZA 108-118 W. MAIN ST.		27282	SC		2001		2007			100.00	%		53,239		53,239		520,813	FOOD LION(2022)
492 MATTHEWS, NC	SYCAMORE COMMONS (TIAA) MATTHEWS TWNSHP PWY & NORTHEAST PWY		28105	SC		2002/2004		2007			15.00	%		265,860		401,057		4,396,210	MICHAEL’S(2012), BED BATH & BEYOND(2012), DICK’S SPORTING GOODS(2017), OLD NAVY(2011), CIRCUIT CITY(2023)
493 MONROE, NC	MONROE SHOPPING CENT 1620 ROOSEVELT BLVD		28110	SC		1994		2007			100.00	%		45,080		45,080		340,716	BI-LO(2014)
494 MOORESVILLE, NC	MOORESVILLE CONSUMER SQUARE I 355 WEST PLAZA DRIVE		28117	SC		1999		2004			100.00	%		472,182		472,182		4,342,291	WAL-MART(2019), GOODY’S( 2010), GANDER MOUNTAIN(2021)
495 MOORESVILLE, NC(MARKETPLACE)	MOORESVILLE MARKETPLACE 247 E. PLAZA DR		28115	SC		2004		2007			100.00	%		60,169		60,169		645,039	BI-LO(2022)
496 MOORESVILLE, NC(WINSLOW)	WINSLOW BAY COMMONS (TIAA) BLUEFIELD ROAD AND HIGHWAY 150		28117	SC		2003		2007			15.00	%		255,798		429,798		3,388,302	ROSS DRESS FOR LESS(2014), LINENS ‘N THINGS(2014), DICK’S SPORTING GOODS(2019), T.J. MAXX(2013), MICHAEL’S(2013)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 26 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
497 NEW BERN, NC	RIVERTOWNE SQUARE 3003 CLAREDON BLVD		28561	SC		1989/1999		1/2 *		100.00	%		68,130		200,228		600,353	GOODY’S(2012), WAL-MART(NOT OWNED)
498 RALEIGH, NC(ALEXANDER)	ALEXANDER PLACE (TIAA) GLENWOOD AVE & BRIER CREEK PKWY		27617	SC		2004		2007		15.00	%		164,649		164,649		2,212,197	KOHL’S(2025), WAL-MART(2007)
499 RALEIGH, NC(CAPITAL)	CAPITAL CROSSING 2900-2950 EAST MILL BROOK ROAD		27613	SC		1995		2007		100.00	%		83,248		83,248		888,670	LOWE’S FOODS(2015), STAPLES(2011)
500 RALEIGH, NC(ECKERD)	ECKERD DRUG STORE — PERRY CREE US HIGHWAY 401 AND PERRY CREEK ROAD		27616	SC		2003		2007		100.00	%		10,908		10,908		284,571
501 RALEIGH, NC(WAKEFIELD)	WAKEFIELD CROSSING WAKEFIELD PINES DR & NEW FALLS OF NEUSE		27614	SC		2001		2007		100.00	%		75,927		75,927		922,699	FOOD LION(2022)
502 SALISBURY, NC	ALEXANDER POINTE 850 JAKE ALEXANDER BLVD		28144	SC		1997		2007		20.00	%		57,710		57,710		666,565	HARRIS TEETER SUPERMARKETS(2017)
503 SILER CITY, NC	CHATHAM CROSSING (TIAA) US HIGHWAY 64 WEST		27344	SC		2002		2007		15.00	%		32,000		32,000		382,443
504 SOUTHERN PINES, NC	BI-LO — SOUTHERN PINES (TIAA) US HWY 15-501		28387	SC		2002		2007		15.00	%		57,404		57,404		510,712	STEIN MART(2016)
505 WAKE FOREST, NC	CAPITAL PLAZA (TIAA) 11825 RETAIL DRIVE		27587	SC		2004		2007		15.00	%		46,793		46,793		597,408
506 WASHINGTON, NC	PAMLICO PLAZA 536 PAMLICO PLAZA		27889	SC		1990/1999		1/2 *		100.00	%		80,269		265,053		562,422	GOODY’S(2009), OFFICE DEPOT(2009), WAL-MART(NOT OWNED)
507 WILMINGTON, NC	UNIVERSITY CENTRE S. COLLEGE RD & NEW CENTRE DR.		28403	SC		1989/2001		1/2 *		100.00	%		411,887		518,735		3,562,639	LOWE’S(2014), OLD NAVY(2011), BED BATH & BEYOND(2012), ROSS DRESS FOR LESS(2012), STEVE & BARRY’S(2014), BADCOCK FURNITURE(2014), SAM’S(NOT OWNED)
508 WILMINGTON, NC(OLEANDER)	OLEANDER SHOPPING CENTER 3804 OLEANDER DRIVE		28401	SC		1989		2007		100.00	%		51,888		51,888		578,191	LOWE’S FOODS(2015)
509 WILSON, NC	FOREST HILLS CENTRE 1700 RALEIGH RD NW		27896	SC		1989		2007		100.00	%		73,280		73,280		625,332	HARRIS TEETER SUPERMARKETS(2010)
510 WINSTON-SALEM, NC(HARPER)	HARPER HILL COMMONS 5049 COUNTRY CLUB RD		27104	SC		2004		2007		20.00	%		55,394		96,914		1,350,690
511 WINSTON-SALEM, NC(OAK)	OAK SUMMIT (TIAA) EAST HANES MILL ROAD		27105	SC		2003		2007		15.00	%		142,394		142,394		1,738,063	GOODY’S(2016), STAPLES(2016), PETSMART(2020)
512 WINSTON-SALEM, NC(OLIVER)	SHOPS AT OLIVER CROSSING PETERS CREEK PKWY OLIVER CROSSING		27127	SC		2003		2007		100.00	%		76,512		76,512		971,729	LOWE’S FOODS(2023)
513 WINSTON-SALEM, NC(WAL-MART)	SUPER WAL-MART — WINSTON-SALEM 4550 KESTER MILL RD		27103	SC		1998		2007		100.00	%		204,931		409,862		1,403,777	WAL-MART(2017)
North Dakota
514 DICKINSON, ND	PRAIRIE HILLS MALL 1681 THIRD AVENUE		58601	MM		1978		1/2 *		100.00	%		267,506		267,506		1,128,602	K MART(2008), HERBERGER’S(2010), J.C. PENNEY(2008)
Ohio
515 ALLIANCE, OH	SUPER WAL-MART — ALLIANCE 2700 WEST STATE ST		44601	SC		1998		2007		100.00	%		200,084		200,084		1,190,500	WAL-MART(2017)
516 ASHTABULA, OH (TOPS)	TOPS PLAZA — ASHTABULA 1144 WEST PROSPECT ROAD		44004	SC		2000		2004		100.00	%		57,874		57,874		840,400	TOPS MARKETS(2021)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 27 of 37
Quarter: 1Q07

					Year					DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year			Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired			Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
517 AURORA, OH	BARRINGTON TOWN SQUARE 70-130 BARRINGTON TOWN SQUARE		44202	SC		1996/2004		1 *			100.00	%		102,683		159,982		1,038,599	CINEMARK(2011), HEINEN’S(NOT OWNED)
518 BELLEFONTAINE, OH	SOUTH MAIN STREET PLAZA 2250 SOUTH MAIN STREET		43311	SC		1995		1998			100.00	%		52,399		52,399		445,579	GOODY’S(2010), STAPLES(2010)
519 BOARDMAN, OH	SOUTHLAND CROSSING I-680 & US ROUTE 224		44514	SC		1997		1 *			100.00	%		506,254		511,654		4,204,017	LOWE’S(2016), BABIES R US(2009), STAPLES(2012), DICK’S SPORTING GOODS(2012), WAL-MART(2017), PETSMART(2013), GIANT EAGLE(2018)
520 CANTON, OH (PHASE I & II)	BELDEN PARK CROSSINGS 5496 DRESSLER ROAD		44720	SC		1995/2001/2003		1 *			14.50	%		478,106		593,610		5,246,599	VALUE CITY FURNITURE(2011), H.H. GREGG APPLIANCES(2011), JO-ANN STORES(2008), PETSMART(2013), DICK’S SPORTING GOODS(2010), DSW SHOE WAREHOUSE(2012), KOHL’S(2016), TARGET(NOT OWNED)
521 CHILLICOTHE, OH	CHILLICOTHE PLACE 867 N. BRIDGE STREET		45601	SC		1974/1998		1/2	*		20.00	%		106,262		106,262		1,019,135	KROGER(2041), OFFICE MAX(2013)
522 CHILLICOTHE, OH (LOWES)	CHILLICOTHE PLACE (LOWES) 867 N BRIDGE STREET		45601	SC		1998		1 *			100.00	%		130,497		130,497		822,132	LOWE’S(2015)
523 CINCINNATI, OH	GLENWAY CROSSING 5100 GLENCROSSING WAY		45238	SC		1990		1993			100.00	%		235,433		235,433		2,003,867	STEVE & BARRY’S(2014), MICHAEL’S(2011)
524 CINCINNATI, OH (KROGER)	KROGER — CINCINNATI 6401 COLERAIN AVE		45239	SC		1998		2007			100.00	%		56,634		56,634		556,486	KROGER(2015)
525 CINCINNATI, OH (TRI COUNTY)	TRI COUNTY MALL 11700 PRINCETON PIKE		45246	SC		1960/1990/1992		2005			18.00	%		667,659		1,180,139		9,773,133	DILLARD’S(2018), MACY’S(NOT OWNED), SEAR(NOT OWNED)
526 COLUMBUS, OH (CONSUMER SQUARE)	CONSUMER SQUARE WEST COLUMBUS 3630 SOLDANO BLVD.		43228	SC		1989/2003		2004			100.00	%		356,515		356,515		2,208,167	KROGER(2014), TARGET(2011)
527 COLUMBUS, OH (DUBLIN VILLAGE)	DUBLIN VILLAGE CENTER 6561-6815 DUBLIN CENTER DRIVE		43017	SC		1987		1998			100.00	%		230,203		339,284		1,579,233	AMC THEATRE(2007), MAX SPORTS CENTER(2007), B.J.’S WHOLESALE CLUB(NOT OWNED)
528 COLUMBUS, OH (EASTON MARKET)	EASTON MARKET 3740 EASTON MARKET		43230	SC		1998		1998			100.00	%		509,611		509,611		6,010,166	COMPUSA(2013), STAPLES(2013), PETSMART(2014), GOLFSMITH GOLF CENTER(2013), MICHAEL’S(2008), DICK’S SPORTING GOODS(2013), DSW SHOE WAREHOUSE(2012), KITTLE’S HOME FURNISHINGS(2012), BED BATH & BEYOND(2014), T.J. MAXX(2008)
529 COLUMBUS, OH (LENNOX)	LENNOX TOWN CENTER 1647 OLENTANGY RIVER ROAD		43212	SC		1997		1998			50.00	%		352,913		352,913		3,487,441	TARGET(2016), BARNES & NOBLE(2007), STAPLES(2011), AMC THEATRE(2021)
530 COLUMBUS, OH (SUN)	SUN CENTER 3622-3860 DUBLIN GRANVILLE RD		43017	SC		1995		1998			79.45	%		305,428		305,428		3,644,530	BABIES R US(2011), MICHAEL’S(2013), ASHLE Y FURNITURE HOMESTORE(2012), STEIN MART(2012), WHOLE FOODS(2016), STAPLES(2010)
531 COLUMBUS, OH (HILLIARD)	HILLIARD ROME 1710-60 HILLIARD ROME ROAD		43026	SC		2001		2007			100.00	%		110,871		110,871		1,487,813	GIANT EAGLE(2022)
532 DUBLIN, OH (PERIMETER CENTER)	PERIMETER CENTER 6644-6804 PERIMETER LOOP ROAD		43017	SC		1996		1998			100.00	%		137,556		137,556		1,568,413	GIANT EAGLE(2014)
533 ELYRIA, OH	ELYRIA SHOPPING CENTER 841 CLEVELAND		44035	SC		1977		2 *			100.00	%		92,125		92,125		704,695	TOPS MARKETS(2010)
534 GALLIPOLIS, OH	GALLIPOLIS MARKETPLACE 2145 EASTERN AVENUE		45631	SC		1998		2003			100.00	%		25,950		205,908		338,730	WAL MART(NOT OWNED)
535 GROVE CITY, OH(DERBY SQUARE)	DERBY SQUARE SHOPPING CENTER 2161-2263 STRINGTOWN ROAD		43123	SC		1992		1998			20.00	%		128,210		128,210		1,114,254	GIANT EAGLE(2016)
536 HUBER HTS., OH	NORTH HEIGHTS PLAZA 8280 OLD TROY PIKE		45424	SC		1990		1993			100.00	%		163,819		278,376		1,236,400	CUB FOODS(2011), WAL-MART(NOT OWNED)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 28 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
537 LEBANON, OH	COUNTRYSIDE PLACE 1879 DEERFIELD ROAD		45036	SC		1990/2002		1993		100.00	%		17,000		110,480		79,374	ERB LUMBER(NOT OWNED), WALMART #1407(NOT OWNED)
538 MACEDONIA, OH	MACEDONIA COMMONS MACEDONIA COMMONS BLVD		44056	SC		1994		1994		50.00	%		233,619		372,786		3,084,993	TOPS MARKETS(2019), KOHL’S(2016), WAL-MART(NOT OWNED)
539 MACEDONIA, OH (PHASE II)	MACEDONIA COMMONS (PHASE II) 8210 MACEDONIA COMMONS		44056	SC		1999		1 *		100.00	%		169,481		169,481		1,601,734	CINEMARK(2019), HOME DEPOT(2020)
540 NORTH OLMSTED, OH	GREAT NORTHERN PLAZA NORTH 2589-26437 GREAT NORTHERN		44070	SC		1958/1998/2003		1997		14.50	%		624,587		665,487		8,166,506	DSW SHOE WAREHOUSE(2015), BEST BUY(2010), MARSHALLS(2008), BED BATH & BEYOND(2012), PETSMART(2008), STEVE & BARRY’S(2014), HOME DEPOT(2019), K & G MENSWEAR(2008), JO-ANN STORES(2009), MARC’S(2012), COMPUSA(2008), REMINGTON COLLEGE(NOT OWNED)
541 PATASKALA, OH	VILLAGE MARKET/RITE AID CENTER 78-80 OAK MEADOW DRIVE		43062	SC		1980		1998		100.00	%		33,270		33,270		201,200	CARDINAL FOODS(2007)
542 PICKERINGTON, OH	SHOPPES AT TURNBERRY 1701-1797 HILL ROAD NORTH		43147	SC		1990		1998		100.00	%		59,495		61,872		630,411
543 SOLON, OH	UPTOWN SOLON KRUSE DRIVE		44139	SC		1998		1 *		100.00	%		183,255		183,255		2,880,714	MUSTARD SEED MARKET & CAFE(2019), BED BATH & BEYOND(2009), BORDERS(2018)
544 STEUBENVILLE, OH	LOWE’S HOME IMPROVEMENT — STEU 4115 MALL DRIVE		43952	SC		1998		2007		100.00	%		130,497		130,497		871,236	LOWE’S(2016)
545 STOW, OH	STOW COMMUNITY SHOPPING CENTER KENT ROAD		44224	SC		1997/2000		1 *		100.00	%		404,480		506,563		2,802,320	BED BATH & BEYOND(2011), GIANT EAGLE(2017), KOHL’S(2019), OFFICE MAX(2011), TARGET(NOT OWNED)
546 TIFFIN, OH	TIFFIN MALL 870 WEST MARKET STREET		44883	MM		1980/2004		1/2 *		100.00	%		170,868		170,868		631,823	CINEMARK(2011), J.C. PENNEY(2010)
547 TOLEDO, OH	SPRINGFIELD COMMONS SHOPPING S. HOLLAND-SYLVANIA ROAD		43528	SC		1999		1 *		20.00	%		241,129		271,729		2,779,908	KOHL’S(2019), GANDER MOUNTAIN(2014), BED BATH & BEYOND(2010), OLD NAVY(2010), BABIES R US(NOT OWNED)
548 TOLEDO, OH (DICKS)	DICKS — TOLEDO 851 W. ALEXIS ROAD		43612	SC		1995		2004		100.00	%		80,160		80,160		501,000	DICK’S SPORTING GOODS(2016)
549 WEST CHESTER, OH	KROGER — WEST CHESTER 7172 CINCINNATI-DAYTON ROAD		45069	SC		1998		2007		100.00	%		56,634		56,634		349,154	KROGER(2018)
550 WESTLAKE, OH	WEST BAY PLAZA 30100 DETROIT ROAD		44145	SC		1974/1997/2000		1/2 *		100.00	%		162,330		162,330		1,302,603	MARC’S(2009), K MART(2009)
551 WILLOUGHBY HILLS, OH	WILLOUGHBY HILLS SHOPPING CENT CHARDON ROAD		44092	SC		1985		2007		15.00	%		373,318		377,849		3,577,050	GIANT EAGLE(2019), BRYANT AND STRATTON BUSINESS INSTITUTE(2008), CINEMARK(2010), A.J. WRIGHT(2011), OFFICE MAX(2009), SAM’S CLUB(2014)
552 XENIA, OH	WEST PARK SQUARE 1700 WEST PARK SQUARE		45385	SC		1994/1997/2001		1 *		100.00	%		104,873		203,282		722,582	KROGER(2019), WAL-MART(NOT OWNED)
Oklahoma
553 OKLAHOMA CITY, OK	CVS PHARMACY #6226-01 2323 NORTH MARTIN LUTHER KING BLVD		73102	SC		1997		2007		100.00	%		9,504		9,504		159,358
Oregon
554 PORTLAND, OR	TANASBOURNE TOWN CENTER NW EVERGREEN PKWY & NW RING RD		97006	SC		1995/2001		1996		50.00	%		309,617		566,457		5,665,462	LINENS ‘N THINGS(2012), ROSS DRESS FOR LESS(2013), MICHAEL’S(2009), BARNES & NOBLE(2011), OFFICE DEPOT(2010), HAGGAN’S(2021), NORDSTROM(NOT OWNED), TARGET(NOT OWNED), MERVYNS(NOT OWNED)
Pennsylvania
555 ALLENTOWN, PA(WEST)	WEST VALLEY MARKETPLACE 1091 MILL CREEK ROAD		18106	SC		2001/2004		2003		100.00	%		259,239		259,239		2,748,573	WAL-MART(2021)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 29 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
556 CAMP HILL, PA	CAMP HILL CENTER 3414 SIMPSON FERRY ROAD		17011	SC		1978/2002		2007		100.00	%		62,888		62,888		698,160	LINENS ‘N THINGS(2013), MICHAEL’S(2013)
557 CARLISLE, PA	CARLISLE COMMONS (TIAA) RIDGE STREET & NOBLE BLVD		17013	SC		2001		2007		15.00	%		394,033		394,033		3,219,438	WAL-MART(2022), T.J. MAXX(2012), ROSS DRESS FOR LESS(2014), REGAL CINEMAS(2010)
558 CHESWICK, PA	ECKERD DRUG STORE #6095 1200 PITTSBURGH ST.		15024	SC		2000		2007		100.00	%		10,908		10,908		248,609
559 CONNELSVILLE, PA	ECKERD DRUG STORE #6007 100 MEMORIAL BLVD		15425	SC		1999		2007		100.00	%		10,908		10,908		312,181
560 E. NORRITON, PA	KMART PLAZA 2692 DEKALB PIKE		19401	SC		1975/1997		1/2 *		100.00	%		173,876		179,376		1,236,209	K MART(2010), BIG LOTS(2010)
561 ERIE, PA (PEACH)	PEACH STREET SQUARE 1902 KEYSTONE DRIVE		16509	SC		1995/1998/2003		1 *		100.00	%		557,769		679,074		4,779,195	LOWE’S(2015), PETSMART(2015), CIRCUIT CITY(2020), KOHL’S(2016), WAL-MART(2015), CINEMARK(2011)
562 ERIE, PA (TOPS)	TOPS PLAZA — ERIE 1520 WEST 25TH STREET		16505	SC		1995		2004		100.00	%		103,691		103,691		1,325,624	TOPS MARKETS(2016)
563 ERIE, PA(ECKERD 6193)	ECKERD DRUG STORE #6193 404 EAST 26TH STREET		16503	SC		1999		2007		100.00	%		10,908		10,908		260,047
564 ERIE, PA(ECKERD 6286)	ECKERD DRUG STORE #6286 2184 WEST 12TH ST		16505	SC		1999		2007		100.00	%		10,908		10,908		373,661
565 ERIE, PA(ECKERD 6334)	ECKERD DRUG STORE #6334 353 EAST 6TH STREET		16507	SC		1999		2007		100.00	%		10,908		10,908		266,969
566 ERIE, PA(MARKET)	ERIE MARKETPLACE 6660-6750 PEACH STREET		16509	SC		2003		2003		14.50	%		107,537		238,387		1,080,515	MARSHALLS(2013), BED BATH & BEYOND(2013), BABIES R US(2015), TARGET(NOT OWNED)
567 HANOVER, PA (BJS)	BJS — HANOVER 1785 AIRPORT ROAD SOUTH		18109	SC		1991		2004		100.00	%		112,230		112,230		858,844	BJ’S WHOLESALE CLUB(2011)
568 HARBORCREEK, PA	ECKERD DRUG STORE #6062 4145 BUFFALO ROAD		16510	SC		1999		2007		100.00	%		10,908		10,908		230,486
569 HOMESTEAD, PA	WATERFRONT MARKET AMITY (TIAA) 660 E. WATERFRONT DR		15120	LC		2003		2007		15.00	%		806,931		850,729		9,575,125	DICK’S SPORTING GOODS(2012), LOEWS(2020), FILENE’S BASEMENT(2012), MICHAEL’S(2011), PIER 1 IMPORTS(2050), OFFICE DEPOT(2017), T.J. MAXX(2011), OLD NAVY(2011), DSW SHOE WAREHOUSE(2015), BED BATH & BEYOND(2011), MARSHALLS(2010), BARNES & NOBLE(2012), DAVE & BUSTER’S(2020)
570 KING OF PRUSSIA, PA	OVERLOOK AT KING OF PRUSSIA (T 301 GODDARD BLVD		19046	SC		2002		2007		15.00	%		105,615		186,980		4,833,350	NORDSTROM RACK(2012), BEST BUY(2017)
571 MILLCREEK, PA	ECKERD DRUG STORE #6257 5440 PEACH ST.		16508	SC		2000		2007		100.00	%		10,908		10,908		336,691
572 MILLCREEK, PA (ECKERD 6199)	ECKERD DRUG STORE #6199 2923 WEST 26TH ST.		16506	SC		1999		2007		100.00	%		10,908		10,908		332,311
573 MONACA, PA	TOWNSHIP MARKETPLACE 115 WAGNER ROAD		15061	SC		1999/2004		2003		14.50	%		298,589		298,589		2,697,141	LOWE’S(2016), SHOP ‘N SAVE(2019), CINEMARK(2019)
574 MONROEVILLE, PA	ECKERD DRUG STORE #6040 4111 WILLIAM PENN HWY		15146	SC		1998		2007		100.00	%		12,738		12,738		484,028
575 MONROEVILLE, PA(ECKERD 6043)	ECKERD DRUG STORE #6043 2604 MONROEVILLE BLVD		15146	SC		1999		2007		100.00	%		10,908		10,908		295,339
576 MT. NEBO, PA	MT NEBO POINT MT NEBO ROAD & LOWRIES RUN ROAD		15237	SC		2005		1 *		100.00	%		72,882		336,267		1,124,207	SPORTSMAN’S WAREHOUSE(2020), SAM’S CLUB(NOT OWNED), TARGET(NOT OWNED)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List * Run Date: 04/19/2007
Time: 9:28:07AM
Page 30 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
577 NEW CASTLE, PA	ECKERD DRUG STORE #6172 31 NORTH JEFFERSON STREET		16101	SC		1999		2007		100.00	%		10,908		10,908		261,740
578 PENN, PA	ECKERD DRUG STORE #6392 3550 ROUTE 130		15642	SC		1999		2007		100.00	%		10,908		10,908		262,741
579 PITTSBURGH, PA	ECKERD DRUG STORE #6036 2501 SAW MILL RUN BLVD		15227	SC		1999		2007		100.00	%		10,908		10,908		342,233
580 PLUM BOROUGH, PA	ECKERD DRUG STORE #6695 1804 GOLDEN MILE HWY		15239	SC		1999		2007		100.00	%		10,908		10,908		326,940
Puerto Rico
581 ARECIBO, PR (ATLANTICO)	PLAZA DEL ATLANTICO PR # KM 80.3		00612	MM		1980/1993		2005		100.00	%		215,451		224,950		3,138,086	K MART(2013), CAPRI DEL ATLANTICO(2013)
582 BAYAMON, PR (PLAZA DEL SOL)	PLAZA DEL SOL RD PR#29 & PR#167, HATO TEJAS		00961	MM		1998/2003/2004		2005		100.00	%		526,373		675,594		15,699,402	WAL-MART(2022), OLD NAVY(2011), SC IENCE PARK CINEMA(2019), BED BATH & BEYOND(2017), HOME DEPOT(NOT OWNED)
583 BAYAMON, PR (REXVILLE PLAZA)	REXVILLE PLAZA PR #167, KM 18.8		00961	SC		1980/2002		2005		100.00	%		126,023		132,309		1,553,961	PUEBLO XTRA(2009), TIENDAS CAPRI(2013)
584 BAYAMON, PR (RIO HONDO)	RIO HONDO PR#22, PR#167		00936	MM		1982/2001		2005		100.00	%		464,191		529,493		11,649,004	TIENDAS CAPRI(2009), COMPUSA(2021), K MART(2011), PUEBLO XTRA(2012), MARSHALLS(2015), RIO HONDO CINEMA(NOT OWNED)
585 CAROLINA, PR (PLAZA ESCORIAL)	PLAZA ESCORIAL CARRETERA #3, KM 6.1		00987	SC		1997		2005		100.00	%		385,749		601,619		7,589,981	OFFICE MAX(2015), WAL-MART(2024), BORDERS(2017), OLD NAVY(2009), SAM’S CLUB(2024), CARIBBEAN CINEMAS(NOT OWNED), HOME DEPOT(NOT OWNED)
586 CAYEY, PR (PLAZA CAYEY)	PLAZA CAYEY STATE ROAD #1 & PR #735		00736	SC		1999/2004		2005		100.00	%		261,126		339,840		3,195,352	WAL-MART(2021), CAYEY CINEMA CORP.(NOT OWNED)
587 FAJARDO, PR (PLAZA FAJARDO)	PLAZA FAJARDO ROAD PR #3 INT PR #940		00738	SC		1992		2005		100.00	%		245,319		251,319		3,823,351	WAL-MART(2012), PUEBLO XTRA(2012)
588 GUAYAMA, PR (PLAZA WAL-MART)	PLAZA WAL-MART ROAD PR #3 KM 135.0		00784	SC		1994		2005		100.00	%		163,598		163,598		1,676,518	WAL-MART(2018)
589 HATILLO, PR (PLAZA DEL NORTE)	PLAZA DEL NORTE ROAD#2 KM 81.9		00659	MM		1992		2005		100.00	%		505,877		671,306		10,682,015	J.C. PENNEY(2012), PUEBLO XTRA(2012), WAL-MART(2012), TOYS R’ US/KID’SRUS(NOT OWNED), SEARS(NOT OWNED)
590 HUMACAO, PR (PALMA REAL)	PALMA REAL STATE ROAD #3, KM 78.20		00791	SC		1995		2005		100.00	%		340,608		442,614		6,558,055	CAPRI STORES(2011), PUEBLO XTRA(2020) , CINEVISTA THEATRES(2006), WAL-MART(2020), J C PENNY(NOT OWNED), PEP BOYS(NOT OWNED)
591 ISABELA, PR (PLAZA ISABELA)	PLAZA ISABELA STATE ROAD #2 & # 454		00662	SC		1994		2005		100.00	%		238,410		259,016		3,646,370	PUEBLO XTRA(2014), WAL-MART(2019)
592 SAN GERMAN, PR (CAMINO REAL)	CAMINO REAL STATE ROAD PR #122		00683	SC		1991		2005		100.00	%		22,356		49,172		327,950	PEP BOYS(2015)
593 SAN GERMAN, PR (DEL OESTE)	DEL OESTE ROAD PR #2 INT PR #122		00683	SC		1991		2005		100.00	%		174,172		184,746		2,243,687	K MART(2016), PUEBLO XTRA(2011)
594 SAN JUAN, PR (SENORIAL PLAZA)	SENORIAL PLAZA PR #53 & PR #177		00926	MM	1978/Mutiple			2005		100.00	%		169,136		209,596		2,552,995	K MART(2010), PUEBLO EXT(NOT OWNED)
595 VEGA BAJA, PR (PLZ VEGA BAJA)	PLAZA VEGA BAJA ROAD PR #2 INT PR #155		00693	SC		1990		2005		100.00	%		174,728		184,938		2,089,284	K MART(2015), PUEBLO XTRA(2010)
Rhode Island
596 MIDDLETOWN, RI	MIDDLETOWN VILLAGE 1315 WEST MAIN ST		02842	SC		2003		2007		100.00	%		98,161		98,161		1,632,198	BARNES & NOBLE(2019), LINENS ‘N THINGS(2019), MICHAEL’S(2018)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 31 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
597  WARWICK, RI	WARWICK CENTER (TIAA) 1324 BALD HILL ROAD		02886	SC		2004		2007		15.00	%		159,958		159,958		2,255,135	DICK’S SPORTING GOODS(2018), LINENS ‘N THINGS(2013), BARNES & NOBLE(2018), DSW SHOE WAREHOUSE(2013)
South Carolina
598  AIKEN, SC(BI-LO)	NORTH AIKEN BI-LO CENTER 1149 YORK STREET NE		29801	SC		2002		2007		100.00	%		59,204		59,204		547,027	BI-LO(2022)
599  AIKEN, SC(EXCHANGE)	AIKEN EXCHANGE (TIAA) WHISKEY ROAD & BROOK HAVEN DRIVE		29803	SC		2004		2007		15.00	%		101,558		102,758		1,037,133	GOODY’S(2015), PETSMART(2019)
600  ANDERSON, SC(CENTRAL)	ANDERSON CENTRAL (TIAA) 651 HWY 28 BYPASS		29624	SC		1999		2007		15.00	%		223,211		223,211		1,431,776	WAL-MART(2019)
601  ANDERSON, SC(NORTH HILL)	NORTH HILL COMMONS (TIAA) 3521 CLEMSON BLVD		29621	SC		2000		2007		15.00	%		43,149		43,149		431,962	MICHAEL’S(2013)
602  CAMDEN, SC	SPRINGDALE PLAZA 1671 SPRINGDALE DRIVE		29020	SC		1990/2000		1993		100.00	%		180,127		363,405		1,275,113	STEVE & BARRY’S(2014), BELK(2015), WAL-MART SUPER CENTER(NOT OWNED)
603  CHARLESTON, SC	ASHLEY CROSSING 2245 ASHLEY CROSSING DRIVE		29414	SC		1991		2003		100.00	%		188,883		196,048		1,463,511
604  COLUMBIA, SC (STATION II)	COLUMBIANA STATION II (TIAA) 1150-1220 BOWER PKWY		29212	SC		2003		2007		15.00	%		107,000		107,000		1,406,917	H.H. GREGG APPLIANCES(2015)
605  COLUMBIA, SC (STATION)	COLUMBIANA STATION OEA (TIAA) HARBISON BLVD & BOWE R PARKWAY		29212	SC		1999		2007		15.00	%		447,955		447,955		4,440,420	GOODY’S(2016), CIRCUIT CITY(2020), DICK’S SPORTING GOODS(2016), MICHAEL’S(2010), PETSMART(2015)
606  COLUMBIA, SC (TARGET)	TARGET CENTER I (TIAA) 10204 TWO NOTCH RD.		29229	SC		2002		2007		15.00	%		83,400		83,400		614,415	MICHAEL’S(2012), LINENS ‘N THINGS(2012)
607  COLUMBIA, SC(HARBISON)	HARBISON COURT HARBISON BLVD		29212	SC		1991		2002		14.50	%		236,707		296,196		2,850,291	BARNES & NOBLE(2011), ROSS DRESS FOR LESS(2014), MARSHALLS(2012), OFFICE DEPOT(2011), BABIES ‘R’ US #8890(NOT OWNED)
608  CONWAY, SC	GATEWAY PLAZA II — CONWAY 2701 CHURCH STREET		29526	SC		2002		2007		100.00	%		62,428		62,428		625,705	GOODY’S(2017)
609  EASLEY, SC	CENTER POINTE PLAZA I CALHOUN MEMORIAL HWY & BRUSHY CREEK		29642	SC		2004		2007		100.00	%		64,487		64,487		671,875	PUBLIX SUPER MARKETS(2023)
610  EASLEY, SC (CENTER)	CENTER POINTE PLAZA II CALHOUN MEMORIAL HWY & BRUSHY CREEK		29642	SC		2004		2007		100.00	%		7,800		7,800		103,600
611  GAFFNEY, SC	ECKERD DRUG STORE — GAFFNEY 1320 W FLOYD BAKER BLVD		29341	SC		2003		2007		100.00	%		13,818		13,818		291,984
612  GREENVILLE, SC(ECKERD)	ECKERD DRUG STORE — GREENVILLE 3679 AUGUSTA ROAD		29605	SC		2001		2007		100.00	%		10,908		10,908		283,423
613  GREENVILLE, SC(SUPER WAL-MART)	SUPER WAL-MART — GREENVILLE 1451 WOODRUFF ROAD		29607	SC		1998		2007		100.00	%		200,084		200,084		1,272,534	WAL-MART(2018)
614  GREENVILLE, SC(THE POINT)	THE POINT 1140 WOODRUFF ROAD		29601	SC		2005		2007		20.00	%		104,641		104,641		1,740,547	WHOLE FOODS(2026), CIRCUIT CITY(2021)
615  GREENWOOD, SC	BI-LO — NORTHSIDE PLAZA US HIGHWAY 25 & NORTHSIDE DRIVE		29649	SC		1999		2007		100.00	%		41,581		41,581		334,437	BI-LO(2019)
616  LEXINGTON, SC	LEXINGTON PLACE US HWY 378 AND OLD CHEROKEE ROAD		29072	SC		2003		2007		100.00	%		83,167		83,167		834,916	ROSS DRESS FOR LESS(2014), T.J. MAXX(2013)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 32 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
617  MT. PLEASANT, SC	WANDO CROSSING 1500 HIGHWAY 17 NORTH		29465	SC		1992/2000		1995		100.00	%		209,139		325,236		1,771,625	OFFICE DEPOT(2010), T.J. MAXX(2007), MARSHALLS(2011), WAL-MART(NOT OWNED)
618  MT. PLEASANT, SC(BI-LO)	BI-LO — SHELMORE 672 HWY 17 BY-PASS		29464	SC		2002		2007		100.00	%		64,368		64,368		920,894	BI-LO(2023)
619  MYRTLE BEACH, SC	PLAZA AT CAROLINA FOREST 3735 RENEE DRIVE		29579	SC		1999		2007		20.00	%		116,657		116,657		1,648,186	KROGER(2010)
620  N. CHARLESTON, SC	NORTH POINTE PLAZA 7400 RIVERS AVENUE		29406	SC		1989/2001		2 *		100.00	%		294,471		375,451		2,014,285	WAL-MART(2009), OFFICE MAX(2009), HELIG MEYERS(NOT OWNED)
621  N. CHARLESTON, SC(N CHARL CTR)	NORTH CHARLESTON CENTER 5900 RIVERS AVENUE		29406	SC		1980/1993		2004		100.00	%		235,501		235,501		1,190,150	NORTHERN TOOL(2016), BIG LOTS(2009)
622  ORANGEBURG, SC	NORTH ROAD PLAZA 2795 NORTH ROAD		29115	SC		1994/1999		1995		100.00	%		50,760		247,434		540,148	GOODY’S(2008), Wal-Mart(NOT OWNED)
623  PIEDMONT, SC	ECKERD DRUG STORE — PIEDMONT 915 ANDERSON STREET		29601	SC		2000		2007		100.00	%		10,908		10,908		181,052
624  S. ANDERSON, SC	CROSSROADS PLAZA 406 HIGHWAY 28 BY-PASS		29624	SC		1990		1994		100.00	%		7,600		7,600		41,812
625  SIMPSONVILLE, SC	FAIRVIEW STATION 621 FAIRVIEW ROAD		29681	SC		1990		1994		100.00	%		142,086		142,086		882,995	INGLES(2011), KOHL’S(2015)
626  SPARTANBURG, SC(BLACKSTOCK)	ECKERD DRUG STORE — BLACKSTOCK 1510 W.O. EZELL BLVD		29301	SC		2001		2007		100.00	%		10,908		10,908		271,599
627  SPARTANBURG, SC(CEDAR)	CEDAR SPRINGS CROSSING 2199 SOUTHPORT ROAD		29306	SC		2001		2007		100.00	%		86,570		86,570		932,688	BI-LO(2021)
628  SPARTANBURG, SC(ECKERD)	ECKERD DRUG STORE — SPARTANBUR 780 N. PINE STREET		29301	SC		2002		2007		100.00	%		10,908		10,908		283,656
629  SPARTANBURG, SC(NORTHPOINT)	NORTHPOINT MARKETPLACE 8642-8760 ASHEVILLE HIGHWAY		29316	SC		2001		2007		100.00	%		104,032		104,032		706,534	INGLES(2021)
630  TAYLORS, SC	NORTH HAMPTON 6019 WADE HAMPTON (AKA GREER, SC)		29687	SC		2004		2007		20.00	%		171,545		171,545		1,160,896	HOBBY LOBBY(2019), TARGET(2073)
631  TAYLORS, SC (HAMPTON)	HAMPTON POINT 3033 WADE HAMPTON BL		29687	SC		1993		2007		100.00	%		58,316		58,316		468,926	BI-LO(2018)
632  TEGA CAY, SC	ECKERD DRUG STORE — TEGA CAY 2907 W HWY 160		29708	SC		2002		2007		100.00	%		13,824		13,824		309,853
633  WOODRUFF, SC	ECKERD DRUG STORE — WOODRUFF 121 N MAIN STREET		29388	SC		2002		2007		100.00	%		13,824		13,824		288,178
South Dakota
634  WATERTOWN, SD	WATERTOWN MALL 1300 9TH AVENUE		56401	MM		1977		1/2 *		100.00	%		240,262		282,262		1,402,275	DUNHAM’S SPORTING GOODS(2011), HERBERGER’S(2009), J.C. PENNEY(2008), HY VEE SUPERMARKET(NOT OWNED)
Tennessee
635  BRENTWOOD, TN	COOL SPRINGS POINTE I-65 AND MOORE’S LANE		37027	SC		1999/2004		2000		14.50	%		201,414		201,414		2,580,284	BEST BUY(2014), ROSS DRESS FOR LESS(2015), LINENS ‘N THINGS(2014), DSW SHOE WAREHOUSE(2008)
636  CHATTANOOGA, TN	OVERLOOK AT HAMILTON PLACE 2288 GUNBARREL ROAD		37421	SC		1992/2004		2003		100.00	%		207,244		207,244		1,772,325	BEST BUY(2014), HOBBY LOBBY(2014), FRESH MARKET(2014)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 33 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
637  CHATTANOOGA, TN(PETSMART)	PETSMART — CHATTANOOGA 2130 GUNBARREL ROAD		37421	SC		1995		2007		100.00	%		26,040		26,040		344,665	PETSMART(2021)
638  COLUMBIA, TN	COLUMBIA SQUARE 845 NASHVILLE HWY		38401	SC		1993		2003		10.00	%		68,948		68,948		503,979	KROGER(2022)
639  DANDRIDGE, TN	SQUIREWOOD VILLAGE 109-123 W. HIGHWAY 25-70		37725	SC		2003		2007		100.00	%		46,122		46,122		399,704	LAITI JEWELERS(2023)
640  FARRAGUT, TN	FARRAGUT POINTE 11132 KINGSTON PIKE		37922	SC		1991		2003		10.00	%		71,311		71,311		536,825	FOOD CITY(2011)
641  GOODLETTSVILLE, TN	NORTHCREEK COMMONS 101 — 139 NORTHCREEK BLVD.		37072	SC		1987		2003		20.00	%		84,441		84,441		708,761	KROGER(2012)
642  HENDERSONVILLE, TN	HENDERSONVILLE LOWE’S TN HENDERSONVILLE		37075	SC		1999		2003		100.00	%		133,144		133,144		1,222,439	LOWE’S(2019)
643  JACKSON, TN	WEST TOWNE COMMONS 41 STONEBROOK PLACE		38305	SC		1992		2007		20.00	%		62,925		62,925		552,552	KROGER(2020)
644  JOHNSON CITY, TN	JOHNSON CITY MARKETPLACE FRANKLIN & KNOB CREEK ROADS		37604	SC		2005		2003		100.00	%		4,060		92,308		413,892	KOHL’S(NOT OWNED)
645  KNOXVILLE, TN	TURKEY CREEK I (TIAA) 10936 PARKSIDE DRIVE		37922	SC		2001		2007		15.00	%		280,676		353,814		3,602,030	ROSS DRESS FOR LESS(2014), OFFICE MAX(2017), LINENS ‘N THINGS(2017), OLD NAVY(2011), GOODY’S(2015)
646  KNOXVILLE, TN (TOWN)	TOWN & COUNTRY (TIAA) NORTH PETERS ROAD & TOWN & COUNTRY CIRCL		37923	SC		1985/1997		2007		15.00	%		632,537		632,537		6,620,721	GOODY’S(2008), JO-ANN STORES(2008), CIRCUIT CITY(2009), STAPLES(2019), FOOD CITY(2026), BEST BUY(2019), LOWE’S(2017), CARMIKE CINEMAS(2020), DICK’S SPORTING GOODS(2017)
647  MEMPHIS, TN(AMERICAN)	AMERICAN WAY 4075 AMERICAN WAY		38118	SC		1988		2007		20.00	%		124,198		124,198		861,546	KROGER(2020)
648  MORRISTOWN, TN	CROSSROADS SQUARE 130 TERRACE LANE		37816	SC		2004		2007		20.00	%		62,500		75,000		565,000	T.J. MAXX(2014)
649  MURFREESBORO, TN(KEN)	KENSINGTON PLACE S. RUTHERSFORD BLVD & S.E. BROAD ST.		37130	SC		1998		2007		100.00	%		70,607		70,607		605,109	BI-LO(2019)
650  MURFREESBORO, TN(TOWNE)	TOWNE CENTRE OLD FORT PARKWAY		37129	SC		1998		2003		14.50	%		108,023		390,645		1,327,815	T.J. MAXX(2008), BOOKS-A-MILLION(2009), TOYS R US(NOT OWNED), LOWE’S(NOT OWNED), TARGET(NOT OWNED)
651  NASHVILLE, TN	WILLOWBROOK COMMONS 61 EAST THOMPSON LN		37211	SC		2005		2007		20.00	%		93,600		93,600		981,355	KROGER(2029)
652  NASHVILLE, TN (MARKET)	THE MARKETPLACE CHARLOTTE PIKE		37209	SC		1998		2003		14.50	%		167,795		367,879		1,611,198	LOWE’S(2019), WAL MART(NOT OWNED)
653  NASHVILLE, TN(BELLEVUE)	BELLEVUE PLACE SHOPPING CENTER 7625 HIGHWAY 70 S		37221	SC		2003		2007		15.00	%		77,180		77,180		844,919	MICHAEL’S(2012), BED BATH & BEYOND(2012)
654  OAKLAND, TN	OAKLAND MARKET PLACE 7265 US HWY 64		38060	SC		2004		2007		20.00	%		64,600		64,600		416,647	KROGER(2028)
Texas
655  AUSTIN, TX(TECH RIDGE)	SHOPS AT TECH RIDGE CENTER RIDGE DRIVE		78728	SC		2003		2003		24.75	%		282,798		530,434		4,114,775	ROSS DRESS FOR LESS(2014), LINENS ‘N THINGS(2014), HOBBY LOBBY(2018), BEST BUY(2017), TOYS R US(NOT OWNED), SUPER TARGET(NOT OWNED)
656  BAYTOWN, TX(LOWE’S)	LOWE’S HOME IMPROVEMENT — BAYT 5002 GARTH ROAD		77521	SC		1998		2007		100.00	%		125,357		125,357		873,828	LOWE’S(2015)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 34 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
657  CARROLTON, TX(CVS 7440)	CVS PHARMACY #7440-01 TRINITY MILLS AND MARSH RD		75006	SC		1997		2007		100.00	%		9,504		9,504		185,188
658  COLONY, TX(CVS 6982)	CVS PHARMACY #6982-01 6749 MAIN STREET		75056	SC		1997		2007		100.00	%		9,504		9,504		171,576
659  FRISCO, TX	FRISCO MARKETPLACE 7010 PRESTON ROAD		75035	SC		2003		2003		14.50	%		20,959		107,543		731,059	KOHL’S(NOT OWNED)
660  FT. WORTH, TX(CVS 6794)	CVS PHARMACY #6794-01 2706 JACKSBORO HWY		76114	SC		1997		2007		100.00	%		10,908		10,908		239,783
661  FT. WORTH, TX(CVS 7785)	CVS PHARMACY #7785-01 4551 SYCAMORE SCHOOL ROAD		76133	SC		1997		2007		100.00	%		9,504		9,504		149,248
662  GARLAND, TX	RAINBOW FOODS — GARLAND 3265 BROADWAY BLVD		75043	SC		1994		2007		100.00	%		70,576		70,576		0
663  GRAND PRAIRIE, TX	KROGER — GRAND PRAIRIE 2525 WEST INTERSTATE 20		75052	SC		1998		2007		100.00	%		125,357		125,357		433,615	KROGER(2018)
664  HOUSTON, TX	LOWE’S HOME IMPROVEMENT — HOUS 19935 KATY FREEWAY		77094	SC		1998		2007		100.00	%		131,644		131,644		917,000	LOWE’S(2017)
665  IRVING, TX	MACARTHUR MARKETPLACE MARKET PLACE BOULEVARD		75063	SC		2004		2003		14.50	%		146,941		598,651		2,084,490	HOLLYWOOD THEATERS(2016), OFFICE MAX(2014), WAL MART(NOT OWNED), SAM’S CLUB(NOT OWNED), KOHL’S(NOT OWNED)
666  LAKE WORTH, TX	CVS PHARMACY #7642-01 6640 LAKE WORTH BLVD		76135	SC		1997		2007		100.00	%		9,504		9,504		161,809
667  LEWISVILLE, TX(LAKEPOINTE)	LAKEPOINTE CROSSINGS S STEMMONS FREEWAY		75067	SC		1991		2002		14.50	%		311,039		567,069		3,512,449	99 CENTS ONLY STORE(2009), ROOMSTORE, THE(2007), PETSMART(2009), BEST BUY(2010), ACADEMY SPORTS(2016), MARDEL CHRISTIAN BOOKSTORE(2012), GARDEN RIDGE(NOT OWNED), TOYS R’ US(NOT OWNED), CONN’S APPLIANCE(NOT OWNED)
668  MCKINNEY, TX	MCKINNEY MARKETPLACE US HWY 75 & EL DORADO PKWY		75070	SC		2000		2003		14.50	%		118,967		183,810		1,169,875	KOHL’S(2021), ALBERTSON’S(NOT OWNED)
669  MESQUITE, TX	THE MARKETPLACE AT TOWNE CENTE SOUTHBOUND FRONTAGE RD I 635		75150	SC		2001		2003		14.50	%		170,625		378,775		2,349,200	LINENS ‘N THINGS(2013), MICHAEL’S(2012), ROSS DRESS FOR LESS(2013), HOME DEPOT(NOT OWNED), KOHL’S(NOT OWNED)
670  PASADENA, TX	KROGER JUNCTION 2619 RED BLUFF ROAD		77506	SC		1984		2007		20.00	%		73,838		73,838		353,468	KROGER(2020)
671  PLANO, TX	CVS PHARMACY #7804-01 6401 W. PARKER RD.		75093	SC		1997		2007		100.00	%		10,908		10,908		220,740
672  RICHARDSON, TX(CVS 6967)	CVS PHARMACY #6967-01 1425 E. BUCKINGHAM ROAD		75081	SC		1997		2007		100.00	%		10,560		10,560		210,210
673  RICHARDSON, TX(CVS 6974)	CVS PHARMACY #6974-01 2090 ARAPAHOE BLVD.		75081	SC		1997		2007		100.00	%		10,560		10,560		206,585
674  RICHLAND HILLS, TX	CVS PHARMACY #7579-01 4808 DAVIS BLVD.		76180	SC		1997		2007		100.00	%		10,908		10,908		231,876
675  RIVER OAKS, TX	CVS PHARMACY #7678-01 531 RIVER OAKS BLVD.		76114	SC		1997		2007		100.00	%		10,908		10,908		240,972
676  ROWLETT, TX	RAINBOW FOODS — ROWLETT 8800 LAKEVIEW PKWY		75088	SC		1995/2001		2007		100.00	%		63,117		63,117		0

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 35 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
677  SAN ANTONIO, TX (N. BANDERA)	BANDERA POINT NORTH STATE LOOP 1604/BANDERA ROAD		78227	SC		2001/2002		1 *		100.00	%		278,721		887,911		4,412,759	T.J. MAXX(2011), LINENS ‘N THINGS(2012), OLD NAVY(2011), ROSS DRESS FOR LESS(2012), BARNES & NOBLE(2011), CREDIT UNION(NOT OWNED), CHUCK E CHEESE(NOT OWNED), CHUCK E CHEESE(NOT OWNED), RAQUETBALL & FITNESS(NOT OWNED), KOHL’S(NOT OWNED)
678  SAN ANTONIO, TX (WESTOVER)	WESTOVER MARKETPLACE SH 151 @ LOOP 410		78209	SC		2005		1 *		10.00	%		189,682		491,882		2,668,876	PETSMART(2016), OFFICE DEPOT(2016), SPORTSMAN’S WAREHOUSE(2015), ROSS DRESS FOR LESS(2016), TARGET(NOT OWNED), LOWES(NOT OWNED)
679  SAN ANTONIO, TX(INGRAM)	INGRAM PARK 6157 NW LOOP 410		78238	FO		1985		2005		50.00	%		76,597		76,597		430,440	MERVYN’S(2020)
680  TYLER, TX	CVS PHARMACY #7709-01 1710 W. GENTRY PKWY		75702	SC		1997		2007		100.00	%		9,504		9,504		134,773
681  WICHITA FALLS, TX(CVS 6841)	CVS PHARMACY #6841-01 3601 OLD JACKSBORO HIGHWAY		76302	SC		1997		2007		100.00	%		9,504		9,504		188,502
682  WICHITA FALLS, TX(CVS 6978)	CVS PHARMACY #6978-01 4600 SOUTHWEST PKWY		76310	SC		1997		2007		100.00	%		9,504		9,504		164,568
Utah
683  LOGAN, UT	FAMILY PLACE @ LOGAN 400 NORTH STREET		84321	SC		1975		1998		100.00	%		19,200		44,200		210,094	RITE AID(NOT OWNED)
684  MIDVALE, UT (FT. UNION I & II)	FAMILY CENTER AT FORT UNION 50 900 EAST FT UNION BLVD		84047	SC		1973/2000		1998		100.00	%		618,081		618,081		7,619,721	BABIES R US(2014), OFFICE MAX(2012), SMITH’S FOOD & DRUG(2024), MEDIA PLAY(2009), BED BATH & BEYOND(2014), WAL-MART(2015), ROSS DRESS FOR LESS(2016), MICHAEL’S(2017)
685  OGDEN, UT	FAMILY CENTER AT OGDEN 5-POINT 21-129 HARRISVILLE ROAD		84404	SC		1977		1998		100.00	%		162,316		162,316		617,861	HARMONS(2012)
686  OREM, UT	FAMILY CENTER AT OREM 1300 SOUTH STREET		84058	SC		1991		1998		100.00	%		150,667		281,931		1,649,151	TOYS R US(2011), MEDIA PLAY(2009), OFFICE DEPOT(2008), JO-ANN STORES(2012), R.C. WILLEY(NOT OWNED)
687  RIVERDALE, UT (NORTH)	FAMILY CENTER AT RIVERDALE 510 1050 WEST RIVERDALE ROAD		84405	SC		1995/2003		1998		100.00	%		593,398		596,198		4,978,527	MACY’S(2011), OFFICE MAX(2008), GART SPORTS(2012), SPORTSMAN’S WAREHOUSE(2009), TARGET(2017), MEDIA PLAY(2009), CIRCUIT CITY(2016)
688  RIVERDALE, UT (WEBER)	FAMILY CENTER @ RIVERDALE 526 1050 WEST RIVERDALE ROAD		84405	SC		2005		1 *		100.00	%		35,347		386,110		335,796	JO-ANN STORES(2015), SUPER WALMART(NOT OWNED), SAM’S CLUB(NOT OWNED)
689  SALT LAKE CITY, UT (33RD)	FAMILY PLACE @ 33RD SOUTH 3300 SOUTH STREET		84115	SC		1978		1998		100.00	%		34,209		34,209		200,588
690  TAYLORSVILLE, UT (NORTH)	FAMILY CENTER AT MIDVALLEY 503 5600 SOUTH REDWOOD		84123	SC		1982/2003		1998		100.00	%		641,256		713,256		6,562,999	SHOPKO(2014), JO-ANN STORES(2015), GART SPORTS(2017), 24 HOUR FITNESS(2017), BED BATH & BEYOND(2015), ROSS DRESS FOR LESS(2014), HOME USA WAREHOUSE(2012), MEDIA PLAY(2009), PETSMART(2012), HARMONS SUPERSTORE(NOT OWNED)
Vermont
691  BERLIN, VT	BERLIN MALL 282 BERLIN MALL RD., UNIT #28		05602	MM		1986/1999		2 *		100.00	%		174,624		174,624		1,681,275	WAL-MART(2014), J.C. PENNEY(2009)
Virginia
692  CHESTER, VA	BERMUDA SQUARE 12607-12649 JEFFERSON DAVIS		23831	SC		1978		2003		100.00	%		116,310		116,310		1,219,040	UKROP’S(2008)
693  FAIRFAX, VA	FAIRFAX TOWNE CENTER 12210 FAIRFAX TOWNE CENTER		22033	SC		1994		1995		14.50	%		253,392		253,392		4,183,419	SAFEWAY(2019), T.J. MAXX(2009), BED BATH & BEYOND(2010), UNITED ARTISTS THEATRE(2014)
694  FREDRICKSBURG, VA	PETSMART — FREDRICKSBURG 1401 CARL D SILVER PARKWAY		22401	SC		1997		2007		100.00	%		26,067		26,067		378,797	PETSMART(2021)
695  GLEN ALLEN, VA	CREEKS AT VIRGINIA CENTER (TIA 9830-9992 BROOK ROAD		23059	SC		2002		2007		15.00	%		266,308		266,308		4,323,506	BARNES & NOBLE(2011), CIRCUIT CITY(2022), BED BATH & BEYOND(2012), MICHAEL’S(2011), DICK’S SPORTING GOODS(2017)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 36 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
696  LYNCHBURG, VA	WARDS CROSSING (TIAA) WARDS ROAD AND WARDS FERRY ROAD		24502	SC		2001		2007		15.00	%		80,937		80,937		1,208,678	BED BATH & BEYOND(2013), MICHAEL’S(2011)
697  LYNCHBURG, VA (CANDLERS)	CANDLERS STATION 3700 CANDLERS MOUNTAIN ROAD		24502	SC		1990		2003		100.00	%		270,765		337,765		2,345,430	GOODY’S(2008), CINEMARK(2015), CIRCUIT CITY(2009), STAPLES(2013), T.J. MAXX(2009), STEVE & BARRY’S(2014), TOYS R US(NOTOWNED)
698  LYNCHBURG, VA (FAIRVIEW)	FAIRVIEW SQUARE 2215 FLORIDA AVENUE		24501	SC		1992		2004		100.00	%		85,209		85,209		349,744	FOOD LION(2012)
699  LYNCHBURG, VA(WARDS)	WARDS CROSSING OEA (TIAA) WARDS RD AND WARDS FERRY RD		24502	SC		2001		2007		15.00	%		397,386		397,386		0	TARGET(2040), BARNES & NOBLE(2040), BEST BUY(2040), DICK’S SPORTING GOODS(2040), PAYLESS SHOE SOURCE(2040), PETSMART(2040), FAISON SEVEN HILLS(2040), LOGAN’S ROADHOUSE(2040), O’CHARLEY’S(2040)
700  MARTINSVILLE, VA	LIBERTY FAIR MALL 240 COMMONWEALTH BOULEVARD		24112	MM		1989/1997		1/2*		50.00	%		435,057		479,256		2,800,428	GOODY’S(2008), BELK(2009), J.C. PENNEY(2009), SEARS(2009), OFFICE MAX(2012), KROGER(2017), MCDONALD’S(NOT OWNED)
701  MIDLOTHIAN, VA	GENITO CROSSING HULL STREET ROAD		23112	SC		1985		2003		100.00	%		79,407		79,407		636,455	FOOD LION(2010)
702  NEWPORT NEWS, VA(DENBIGH)	DENBIGH VILLAGE WARWICK BLVD AND DENBIGH BLVD		23608	SC		1998/2006		2007		100.00	%		324,450		340,950		2,552,201	BURLINGTON COAT FACTORY(2008), KROGER(2017)
703  NEWPORT NEWS, VA(JEFFERSON)	JEFFERSON PLAZA (TIAA) 121 JEFFERSON AVENUE		23602	SC		1999		2007		15.00	%		47,341		47,341		754,397	COMPUSA(2019)
704  PULASKI, VA	MEMORIAL SQUARE 1000 MEMORIAL DRIVE		24301	SC		1990		1993		100.00	%		143,299		143,299		813,944	WAL-MART(2011), FOOD LION(2011)
705  RICHMOND, VA(CHESTERFIELD)	CHESTERFIELD CROSSING (TIAA) HIGHWAY 360 & WARBRO ROAD		23112	SC		2000		2007		15.00	%		79,802		79,802		1,272,322	BEN FRANKLIN CRAFTS(2015)
706  RICHMOND, VA(COMMONWEALTH)	COMMONWEALTH CENTER II (TIAA) 4600-5000 COMMONWEALTH CENTER PARKWAY		23112	SC		2002		2007		15.00	%		165,413		165,413		2,257,216	STEIN MART(2011), MICHAEL’S(2011), BARNES & NOBLE(2012)
707  RICHMOND, VA(DOWNTOWN)	DOWNTOWN SHORT PUMP 11500-900 WEST BROAD STREET		23233	SC		2000		2007		100.00	%		126,055		239,873		2,498,761	BARNES & NOBLE(2011), REGAL CINEMAS(2021)
708  SPRINGFIELD, VA(LOISDALE)	LOISDALE CENTER 6646 LOISDALE ROAD		22150	SC		1999		2007		100.00	%		120,742		120,742		3,144,462	BARNES & NOBLE(2015), DSW SHOE WAREHOUSE(2010), BED BATH & BEYOND(2015), CIRCUIT CITY(2020)
709  SPRINGFIELD, VA(SPRING MALL)	SPRING MALL CENTER 6717 SPRING MALL RD		22150	SC		1995/2001		2007		100.00	%		56,511		56,511		516,291	MICHAEL’S(2010)
710  STERLING, VA	CASCADES MARKETPLACE NEC OF CASCADES PKWY & ROUTE 7		20165	SC		1998		2007		100.00	%		101,606		101,606		1,480,786	STAPLES(2008), SPORTS AUTHORITY(2016)
711  VIRGINIA BEACH, VA	KROGER PLAZA 1800 REPUBLIC DRIVE		23454	SC		1997		2007		20.00	%		63,324		63,324		232,168	KROGER(2020)
712  WAYNESBORO, VA	WAYNESBORO COMMONS 109 LEE DEWITT BLVD		22980	SC		1993		2007		20.00	%		52,415		52,415		429,724	KROGER(2018)
713  WINCHESTER, VA	APPLE BLOSSOM CORNERS 2190 S. PLEASANT VALLEY		22601	SC		1990/1997		2 *		20.00	%		240,560		240,560		2,394,434	MARTIN’S FOOD STORE(2040), KOHL’S(2018), OFFICE MAX(2012), BOOKS-A-MILLION(2013)
714  WYTHEVILLE, VA	WYTHEVILLE COMMONS (TIAA) 215-295 COMMONWEALTH DRIVE		24382	SC		2004		2007		15.00	%		90,239		90,239		1,029,470	GOODY’S(2016)
Washington
715  KIRKLAND, WA (TOTEM LKS UPPER)	TOTEM LAKES UPPER TOTEM LAKES BOULEVARD		98034	SC		1999/2004		2004		20.00	%		232,490		278,469		2,672,261	GUITAR CENTER(2007), ROSS DRESS FOR LESS(2010), COMPUSA(2006)

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Retail Property List* Run Date: 04/19/2007
Time: 9:28:07AM
Page 37 of 37
Quarter: 1Q07

					Year				DDR			Owned		Owned/Unowned		Total
		Zip		Type of	Developed/		Year		Ownership			Gross		Gross		Annualized
Center/Property	Location	Code		Property	Redeveloped		Acquired		Interest			Leasable Area		Leasable Area		Rent		Anchor Tenants(Lease Expiration)
716  OLYMPIA, WA	CIRCUIT CITY — OLYMPIA 2815 CAPITAL MALL DR SW		98502	SC		1998		2007		100.00	%		35,776		35,776		443,929	CIRCUIT CITY(2018)
West Virginia
717  BARBOURSVILLE, WV	BARBOURSVILLE CENTER 5-13 MALL ROAD		25504	SC		1985		1998		100.00	%		70,900		133,396		369,425	DISCOUNT EMPORIUM(2006), GOODY’S(2014), VALUE CITY(NOT OWNED)
718  MORGANTOWN, WV	GLENMARK CENTRE INTERSTATE 68 AND PIERPONT ROAD		26508	SC		1999/2000		2007		100.00	%		111,278		383,725		1,175,715	SHOP ‘N SAVE(2009), MICHAEL’S(2011)
719  WEIRTON, WV	ECKERD DRUG STORE #6089 1360 COVE ROAD		26062	SC		2000		2007		100.00	%		10,908		10,908		221,870
Wisconsin
720  BROOKFIELD, WI (SW)	SHOPPERS WORLD OF BROOKFIELD NORTH 124TH STREET AND WEST CA		53005	SC		1967		2003		14.50	%		182,722		190,142		1,432,655	T.J. MAXX(2010), MARSHALLS MEGA STORE(2009), OFFICE MAX(2010), BURLINGTON COAT FACTORY(2012)
721  BROWN DEER, WI (CENTER)	BROWN DEER CENTER NORTH GREEN BAY ROAD		53209	SC		1967		2003		14.50	%		266,716		266,716		1,983,793	KOHL’S(2023), MICHAEL’S(2012), OFFICE MAX(2010), T.J. MAXX(2012), OLD NAVY(2012)
722  BROWN DEER, WI (MARKET)	MARKET PLACE OF BROWN DEER NORTH GREEN BAY ROAD		53209	SC		1989		2003		14.50	%		143,372		143,372		1,133,461	MARSHALLS MEGA STORE(2009), PICK ‘N SAVE(2010)
723  MILWAUKEE, WI	POINT LOOMIS SOUTH 27TH STREET		53221	SC		1962		2003		100.00	%		160,533		160,533		707,571	KOHL’S(2012), PICK ‘N SAVE(2012)
724  OSHKOSH, WI	WALGREENS — OSHKOSH 950 S. KOEHLER ST		54902	SC		2005		2007		100.00	%		13,905		13,905		305,910
725  RACINE, WI	MOUNT PLEASANT OUTLOT WASHINGTON AVE. VILLAGE CENTER DR.		53406	SC		2003		2007		100.00	%		10,784		10,784		348,740
726  RACINE, WI (VILLAGE)	VILLAGE CENTER 5500-5740 WASHINGTON AVENUE		53406	SC		2003		2007		100.00	%		217,103		217,103		2,052,535	JEWEL(2022), KOHL’S(2023)
727  WEST ALLIS, WI(WEST)	WEST ALLIS CENTER WEST CLEVELAND AVE. AND S. 108		53214	SC		1968		2003		100.00	%		246,081		259,981		1,421,496	KOHL’S(2008), MARSHALLS MEGA STORE(2009), PICK ‘N SAVE(2008)
					Grand Total:								113,732,433		144,632,888		1,326,948,862

Mervyns Locations

*	1. Property Developed by the Company
*	2. Original IPO Property
*	SC — Shopping Center
*	MM — Mall
*	LC — Lifestyle Center
*	FO — Fee Owned
*	LH — Leasehold
*	GL — Ground Lease

Does Not Include Service Merchandise Interests

Appendix — Property Listing 1.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Retail Value Investment Program LP IIIB
Date Formed:	September 2000
Property Name/Location:	Deer Park, IL
Major Tenants:	Cinemark	Pottery Barn
	Talbots	Coldwater Creek
	Restoration Hardware	J. Crew
	Victoria’s Secret	Pier 1 Imports
	GAP	Banana Republic
	Barnes & Noble	Ann Taylor
Partnership Structure
Equity Contribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors (PREI)
Cash Flow Distribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors
	Up to a leveraged 10% preferred return on equity
Promote (current):	33% Coventry Real Estate Partners (100% owned by DDR) once limited partners have received a 10% preferred return and return of equity
Fees to DDR
Management Fee:	3.5% of gross rents
Development Fee:	1% of hard costs for all improvements
Asset Management Fee:	.4% of gross asset cost (DDR’s pro-rata share of Coventry’s .5% fee)
Leasing Fees:	N/A

Capital Structure (in millions)

DDRC	$	2.6
Prudential		7.3
Coventry		2.2
Total Capital	$	12.1
Debt	$	60.0
Total Debt & Equity	$	72.1

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Retail Value Investment Program LP VI
Date Formed:	October 1999
Property Name/Location:	Cherokee North — Overland Park, KS
Major Tenants:	Osco Drug
	Deals Nothing Over $1
	Bargains 365
Partnership Structure
Equity Contribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors (PREI)
Cash Flow Distribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors (PREI)
	Up to a leveraged 10% preferred return on equity
Promote (current):	33% Coventry Real Estate Partners (100% owned by DDR) once limited partners have received a 10% preferred return and return of equity
Fees to DDR
Management Fee:	3.5% of gross operating revenues
Asset Management Fee:	.4% of gross asset cost (DDR’s pro-rata share of Coventry’s .5% fee)

Capital Structure (in millions)

DDR	$	0.9
PREI		3.0
Coventry	$	0.1
Total Capital	$	4.0
Debt	$	2.9
Total Debt & Equity	$	6.9

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Retail Value Investment Program VII LLC
Date Formed:	November 2000
Property Name/Location:	The joint venture consists of the following 2 properties:
	Downtown Pleasant Hill — Pleasant Hill, CA
	Valley Central Shopping Center — Lancaster, CA
Major Tenants:	Cinemark	Michael’s
	Ross Stores	Staples
	Wal-Mart	Bed, Bath & Beyond
		Albertson’s
		Marshalls
Partnership Structure
Equity Contribution:	1% — Coventry Real Estate Partners
	20% — DDR
	79% — Prudential Real Estate Investors (PREI)
Cash Flow Distribution:	1% — Coventry Real Estate Partners
	20% — DDR
	79% — Prudential Real Estate Investors
	Up to a leveraged 11% return on equity (10% year one, 10.5% year two, 11% thereafter)
Promote (current):	(i) Pro rata in proportion to the member’s invested capital until the members have received, on a cumulative basis, an amount equal to the preferred return, (ii) 75% to all members in proportion to their invested capital and 25% to Coventry Real Estate Partners (100% owned by DDR) until DDR and PREI have been allocated, on a cumulative basis, an amount equal to a 15% return, (iii) 70% to all members in proportion to their invested capital and 30% to Coventry until DDR and PREI have been allocated, on a cumulative basis, an amount equal to a 20% return, and (iv) 65% to all members pro rata in proportion to their ownership percentages and 35% to Coventry.
Fees to DDR
Management Fee:	3.2% of gross rents
Construction Management Fee:	5% of hard and soft costs
Asset Management Fee:	.6% (DDR’s pro-rata share of Coventry’s .8% fee)
Leasing Fees (without co-broker):	5% on new leases on years 1-5; 2.5% on years 6-10 (spaces < 15,000 square feet)
	4% on new leases on years 1-5; 2% on years 6-10 (spaces > 15,000 square feet)
	3% on new leases on years 1-5; 1.5% on years 6-10 (ground leases)
	Renewals earn 50% of fees on new leases

Capital Structure (in millions)

DDR	$	3.7
PREI		14.6
Coventry		7.4
Total Capital	$	25.7
Debt	$	72.1
Total Debt & Equity	$	97.8

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Retail Value Investment Program LP VIII
Date Formed:	September 2003
Property Name/Location:	Shops@Tech.Ridge — Austin, TX
Major Tenants:	Target	Linen’s ‘N Things
	Pier One	Toys ‘R Us
	Dress Barn	Hobby Lobby
	Rack Room Shoes	Office Depot
	PetsMart	Best Buy
	Ross Dress for Less
Partnership Structure
Equity Contribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors (PREI)
Cash Flow Distribution:	1% — Coventry Real Estate Partners
	24.75% — DDR
	74.25% — Prudential Real Estate Investors
	Up to a leveraged 10% preferred return on equity
Promote (current):	33% Coventry Real Estate Partners (100% owned by DDR) once limited partners have received a 10% preferred return and return of equity
Fees to DDR
Management Fee:	3.5% of gross rents
Development Fee:	1% of hard costs for all improvements
Asset Management Fee:	N/A
Leasing Fees: *	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	5% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 - 9,999 square feet)
	4% on new leases on years 1-5; 2% on remainder of term (spaces 10,000 - 19,999 square feet)
	$2 per square foot (spaces 20,000 square feet and greater)
	3% on renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.5% on renewals on years 1-5; 1.25% on remainder of term (spaces 5,000 - 9,999 square feet)
	2% on renewals on years 1-5; 1% on remainder of term (spaces 10,000 - 19,999 square feet)
	$2 per square foot on renewals (spaces 20,000 square feet and greater)
	4% on new leases years 1-5; 2% years 6-10; (outparcels/ground leases)
	2% on renewals on years 1-5; 1% years 6-10 (outparcels/ground leases)
	6% on Gross Sales Price up to $500,000 (outparcels)
	5% of Gross Sales Price over $500,000 but less than $1,000,000 (Outparcel Sales)
	4% of Gross Sales Price $1,000,000 or over (Outparcel Sales)
Development Fee: *	5% of all development and tenant improvement work performed
Tenant Coordination Fee: *	$5,000 for each in-line space less than 10,000 square feet

Capital Structure (in millions)

DDRC	$	2.5
Prudential		7.5
Coventry		(0.5	)
Total Capital	$	9.5
Debt	$	23.4
Total Debt & Equity	$	32.9

* Fees shall not be paid with respect to the initial leasing or development.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DPG Realty Holdings LLC
Date Formed:	October 2004
Property Name/Location:	The joint venture consists of the following twelve properties:
	Tops Plaza — Elmira, NY	Tops Plaza — Avon, NY
	Tops Plaza — Hamburg, NY	Tops Plaza — Hamlin, NY
	Tops Plaza — Norwich, NY	Farragut Pointe — Farragut, TN
	Tops-Gander Mnt. Plaza — Tonawanda, NY	Columbia Square — Columbia, TN
	Tops Plaza — Arcade, NY	Five Forks Crossing — Lilburn, GA
	Tops Plaza — Tonawanda, NY	Five Forks Village — Lawrenceville, GA
Major Tenants:	Bi-Lo
	BJ’s Wholesale Club
	Gander Mountain Company
	Kroger
	Tops
Partnership Structure
Equity Contribution:	10.0% — JDN QRS, Inc.
	90.0% — Prudential Insurance Company of America (PICA)
Cash Flow Distribution:	10.0% — JDN QRS, Inc.
	90.0% — Prudential Insurance Company of America (PICA)
Fees to DDR
Management Fee:	4% of gross income
Construction Supervision Fee:	5% of gross cost of all development and tenant improvement work (including hard and soft costs)
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term, max 10 yrs. (spaces < 5,000 square feet)
	5% on new leases on years 1-5; 2.5% on remainder of term, max 10 yrs. (spaces 5,000 - 10,000 square feet)
	4% on new leases on years 1-5; 2% on remainder of term, max 10 yrs. (spaces 10,000 - 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	3% for renewals on years 1-5; 1.5% on remainder of term, max 10 yrs. (spaces < 5,000 square feet)
	2.5% for renewals on years 1-5; 1.25% on remainder of term, max 10 yrs. (spaces 5,000 - 10,000 square feet)
	2% for renewals on years 1-5; 1% on remainder of term, max 10 yrs. (spaces 10,000 - 20,000 square feet)
	$2 per square foot for renewals with a material amendment to the lease; 1$ if renewed without a material amendment (spaces > 20,000 square feet)
	4% on new outparcels/ground leases on years 1-5; 2% on remainder of term, max 10 years
	2% on renewal outparcels/ground leases on years 1-5; 1% on remainder of term, max 10 years
	6% of gross sales price < $500,000 (outparcel sales)
	5% of gross sales price $500,000 - $1,000,000 (outparcel sales)
	4% of gross sales prices ³ $1,000,000 (outparcel sales)

Capital Structure (in millions)

JDN	$	11.4
PICA		102.9
Total Capital	$	114.3
Debt	$	10.7
Total Debt & Equity	$	125.0

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDRA Community Centers Five, L.P.
Date Formed:	September, 1998; DDRA CC Seven, L.P. merged July, 2005
Property Name/Location:	The joint venture consists of the following five properties:
	Foothills Towne Center — Ahwatukee, AZ	Maple Grove Crossing — Maple Grove, MN
	Arrowhead Crossing — Phoenix, AZ	Tanasbourne Town Center — Portland, OR
	Eagan Promenade — Eagan, MN

Major Tenants:	AMC Theatre	DSW Shoe Warehouse	Nordstrom Rack (not owned)
	Ashley’s Furniture	Ethan Allen (not owned)	Office Depot
	Babies ‘R Us	Famous Footwear	OfficeMax
	Barnes & Noble	Gander Mountain	Old Navy
	Bassett Furniture	Haggan’s	Petco
	Bed Bath & Beyond	JoAnn, Etc.	Petsmart
	Best Buy	Kohl’s Department	Pier 1 Imports
	Byerly’s	Linens ‘N Things	Ross Dress for Less
	Circuit City	Mac Frugal’s	Staples
	Comp USA	Mervyns (not owned)	Stein Mart
	Cub Foods (not owned)	Michael’s	TJ Maxx
Partnership Structure
Equity Contribution:	50% — DDR
	50% — DRA Advisors
Cash Flow Distribution:	50% — DDR
	50% — DRA Advisors
Fees to DDR
Management Fee:	3.5% of gross retail income
Development Fee:	5.0% of total costs for all improvements
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 - 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 - 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (ground leases)
	Renewals earn 50% of fees on new leases
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 - $1,000,000
	4.0% of gross sales price over $1,000,000

Capital Structure (in millions)

DDR	$	(37.9	)
DRA Advisors		(37.9	)
Total Capital (1)	$	(75.8	)
Payable to DDR	$	0.1
Debt	$	280.0
Total Debt & Equity	$	204.3

(1) Equity position is attributable to the Company refinancing mortgage debt at the fair market value of the assets, which is different than the historical net assets of the joint venture.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Lennox Town Center Limited
Date Formed:	February, 1998
Property Name/Location:	Lennox Town Center Shopping Center — Columbus, OH
Major Tenants:	AMC Theatres Lennox 24
	Barnes & Noble
	Staples
	Target
Partnership Structure
Equity Contribution:	50% — DDR
	50% — Casto Properties
Cash Flow Distribution:	50% — DDR
	50% — Casto Properties
Fees to DDR
Management Fee:	1.312% of all rent
Development Fee:	N/A
Leasing Fees:	N/A
Commission on Outparcel Sales:	N/A

Capital Structure (in millions)

DDR	$	0.2
Casto Properties		0.2
Total Capital	$	0.4
Debt	$	17.4
Total Debt & Equity	$	17.8

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Sun Center Limited
Date Formed:	February, 1998
Property Name/Location:	Sun Center — Columbus, OH
Major Tenants:	Ashley Furniture Homestore
	Babies ‘R Us
	Michael’s
	Staples
	Stein Mart
	Whole Food Markets
Partnership Structure
Equity Contribution:	79.45% — DDR
	20.55% — Casto Properties
Cash Flow Distribution:	79.45% — DDR
	20.55% — Casto Properties
Fees to DDR
Management Fee:	1.312% of all rent
Development Fee:	N/A
Leasing Fees:	N/A
Commission on Outparcel Sales:	N/A

Capital Structure (in millions)

DDR	$	(0.17	)
Casto Properties		(0.05	)
Total Capital (1)	$	(0.2	)
Debt	$	19.9
Total Debt & Equity	$	19.7

(1) Basis differentials occur primarily when the Company has purchased an interest in existing joint ventures at fair market values which differ from their proportionate share of the historical net assets of the joint ventures.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DOTRS LLC
Date Formed:	September, 1996
Property Name/Location:	Macedonia Commons — Macedonia, Ohio
Major Tenants:	Kohl’s Department Store
	Tops Markets
	Wal-Mart (not owned)
Partnership Structure
Equity Contribution:	50% — DDR
	50% — The State Teachers Retirement Board of Ohio
Cash Flow Distribution:	50% — DDR
	50% — The State Teachers Retirement Board of Ohio
Fees to DDR
Management Fee:	5% of gross retail income
Development Fee:	5% of hard costs for all improvements
Leasing Fees:	5% on new leases, 3.5% on renewals
Commission on Outparcel Sales:	N/A

Capital Structure (in millions)

DDR	$	0.2
The State Teachers Retirement Board		0.2
Total Capital	$	0.4
Debt	$	21.0
Total Debt & Equity	$	21.4

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Jefferson County Plaza LLC
Date Formed:	July 1999
Property Name/Location:	Arnold, MO
Major Tenants:	Deal$
	Home Depot (not owned)
	Sally Beauty Supply
	Shoe Carnival
	Target (not owned)
Partnership Structure
Equity Contribution:	50% — DDR
	50% — The Sansone Group (50% owned by DDR)
Cash Flow Distribution:	50% — DDR
	50% — The Sansone Group
Fees to DDR
Management Fee:	1.5% of gross rental income
Development Fee:	NA
Leasing Fees:	2.5% of gross base rent plus reimbursables on new leases; 1.75% on renewals

Capital Structure (in millions)

DDRC	$	(0.45	)
The Sansone Group		(0.45	)
Total Capital (1)	$	(0.9	)
Payable to DDR	$	3.2
Debt	$	3.7
Total Debt & Equity	$	6.0

(1) Basis differentials occur primarily when the Company has purchased an interest in existing joint ventures at fair market values which differ from their proportionate share of the historical net assets of the joint ventures.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDR Markaz LLC (Kuwaiti Financial Centre)
Date Formed:	May 2003
Property Name/Location:	The joint venture consists of the following seven properties:
	Hilltop Plaza – Richmond, CA	Highland Grove Shopping Center– Highland, IN
	Derby Square – Grove City, OH	Springfield Commons Shopping Center – Toledo, OH
	Oviedo Park – Oviedo, FL	Apple Blossom Corners – Winchester, VA
	North Pointe Plaza – Tampa, FL
Major Tenants:	Babies R Us	Marshalls
	Barnes & Noble	Martin’s Food Store
	Bed Bath & Beyond	Michael’s
	Books-A-Million	OfficeMax
	Borders Books (not owned)	Old Navy
	Century Theatre	Petco
	Circuit City	Petsmart
	Gander Mountain	Publix
	Giant Eagle	Ross Dress for Less
	Jewel (not owned)	Shoe Carnival
	Kohl’s	Target (not owned)
	Linens ‘N Things	T.J. Maxx
	Lowe’s (not owned)	Wal-mart (not owned)
Partnership Structure
Equity Contribution:	80% — Kuwait Financial Centre S.A.K. and Bank of Bahrain and Kuwait B.S.C. (dba as “Markaz”)
	20% — DDR
Cash Flow Distribution:	80% — Markaz
	20% — DDR

Promote (current):	(i) Pro rata in proportion to DDR and Markaz equity interest until both have been allocated an
	amount equal to a 12% annual internal rate of return, and (ii) 20% to DDR and 80% to DDR and
	Markaz in proportion to their equity interest.
Fees to DDR
Property Management Fee:	4.0% of revenues
Development Fee:	5.0% of total costs for all improvements
Asset Management Fee:	5.5% of net operating income
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 — 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (ground leases)
	Renewals earn 50% of fees on new leases
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 — $1,000,000
	4.0% of gross sales price over $1,000,000

Capital Structure (in millions)

DDR	$	9.7
Markaz		38.7
Total Capital	$	48.4
Payable to DDR	$	1.0
Debt	$	110.0
Total Debt & Equity	$	159.4

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDR Markaz II LLC (Kuwaiti Financial Centre II)
Date Formed:	November 2004
Property Name/Location:	The joint venture consists of the following thirteen properties:
	Culver Ridge Plaza — Irondequoit, NY	Oxford Place — Oxford, MS
	Tops Plaza — LeRoy, NY	Midway Plaza — Loganville, GA
		Chillicothe Place — Chillicothe, OH *
	Tops Plaza — Jamestown, NY	excluding Lowe’s
	Tops Plaza — Ontario, NY	Northcreek Commons — Goodlettsville, TN
	Tops Plaza Union — Cheektowaga, NY	Panorama Plaza — Rochester, NY
	Tops Plaza — Warsaw, NY	Crossroads Centre — Orchard Park, NY
	Tops Plaza Robinson — Amherst, NY
Major Tenants:	AJ Wright	Lowe’s (not owned)
	Blockbuster Video	Office Max
	Dollar Tree	Regal Cinemas
	Factory Card Outlet	Stein Mart
	Kroger	Tops Markets
	Linens ‘N Things

Partnership Structure
Equity Contribution:	80% — Kuwait Financial Centre S.A.K. and Bank of Bahrain and Kuwait B.S.C. (dba as “Markaz”)
	20% — DDR
Cash Flow Distribution:	80% — Markaz
	20% — DDR
Promote (current):	(i) Pro rata in proportion to DDR and Markaz equity interest until both have been allocated an
	amount equal to a 11.5% annual internal rate of return, and (ii) 50% to DDR and 50% to DDR and Markaz in proportion to their equity interest.
Fees to DDR
Property Management Fee:	4.0% of revenues
Development Fee:	5.0% of total costs for all improvements
Asset Management Fee:	6.25% of net operating income
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 — 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (ground leases)
	Renewals earn 50% of fees on new leases
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 — $1,000,000
	4.0% of gross sales price over $1,000,000

Capital Structure (in millions)

DDR	$	9.2
Markaz		36.9
Total Capital	$	46.1
Receivable from DDR	$	(0.4	)
Payable to DDR	$	0.4
Debt	$	150.5
Total Debt & Equity	$	196.6

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Bloomfield LLC
Date Formed:	August 2006
Property Name/Location:	Bloomfield Park — Bloomfield Hills, MI
Major Tenants:	Blue Point Ocean Grill, Bar Louie, BCBG, BCBG Girls, PacSun, Faro Design, Hyde Park Steakhouse, Orvis, and other retail tenants and restaurants to be announced.
Partnership Structure
Coventry II DDR Harbor Bloomfield Phase I LLC
Equity Contribution:	50% — BP 1, LLC
	50% — Coventry II DDR Bloomfield LLC
Cash Flow Distribution:	50% — BP 1, LLC
	50% — Coventry II DDR Bloomfield LLC (a)
Coventry II DDR Harbor Bloomfield Phase II LLC
Equity Contribution:	70% — BP 2, LLC
	30% — Coventry II DDR Bloomfield LLC
Cash Flow Distribution:	70% — BP 2, LLC
	30% — Coventry II DDR Bloomfield LLC (b)
Coventry II DDR Bloomfield LLC
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	4% of all hard and soft costs
Leasing Fees:	$3 per square foot (for initial leasing during development)
	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee: **	5% of all development and tenant improvement work performed
Tenant Coordination Fee: **	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	21.6
DDR		5.3
Total Capital	$	26.9
Debt	$	48.0
Total Debt & Equity	$	74.9

* Coventry II Fund:

DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

** Fee shall not be paid with respect to the initial leasing or development.

(a) Cash flow is distributed in the following order: 18% preferred return to Coventry II DDR Bloomfield LLC (Coventry/DDR), return of Coventry/DDR contributed capital, payment of BPI, LLC’s Deferred Sales Price, as defined in the Partnership Agreement, the remainder in accordance with the membership interests.

(b) Cash flow is distributed in the following order: 18% preferred return to Coventry II DDR Bloomfield LLC (Coventry/DDR), return of Coventry/DDR contributed capital, the remainder in accordance with the membership interests.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Buena Park LLC
Date Formed:	November 2004
Property Name/Location:	Buena Park Mall — Buena Park, CA
Major Tenants:	Ross Dress For Less	Circuit City
	PetsMart	Office Depot
	Kohl’s	Walmart
	Bed Bath & Beyond	Sears
	Michael’s	Steve & Barry’s University
	DSW Shoe Warehouse	Krikorian Premier Theater
Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR

Fees to DDR
Management Fee:	4% of gross income
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	25.5
DDR		6.4
Total Capital	$	31.9
Debt	$	61.0
Total Debt & Equity	$	92.9

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Fairplain LLC
Date Formed:	May 2006
Property Name/Location:	Fairplain Plaza — Benton Harbor, MI
Major Tenants:	Target (not owned)	Pier 1 Imports
	TJ Maxx	Dunham’s Sports
	Office Depot	Old Navy
	Dollar Tree	Rite Aid
		Kohl’s (not owned)

Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	5% of all hard and soft costs
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	8.8
DDR		2.2
Total Capital	$	11.0
Debt	$	16.0
Total Debt & Equity	$	27.0

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Marley Creek LLC
Date Formed:	Nov-06
Property Name/Location:	Marley Creek Square — Orland, IL
Major Tenants:	Washington Mutual
	Barraco’s
	Starbucks
Partnership Structure
Coventry II DDR/Tucker Marley Creek Square LLC
Ownership Percentage:	50% — Coventry II DDR Marley Creek LLC
	50% — TDC Marley Creek, LLC
Cash Flow Distribution:	50% — Coventry II DDR Marley Creek LLC
	50% — TDC Marley Creek, LLC
	(After Coventry II DDR Marley Creek LLC receives an 18% preferred return on it’s equity contribution)
Coventry II DDR Marley Creek LLC
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund*
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income

Capital Structure (in millions)

Coventry II Fund	$	1.8
DDR		0.5
Total Capital	$	2.3
Debt	$	10.2
Total Debt & Equity	$	12.5

* DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Merriam Village LLC
Date Formed:	March 2005
Property Name/Location:	Merriam Village - Merriam, Kansas
Major Tenants:	To be announced
Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	5% of all hard and soft costs
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee: **	5% of all development and tenant improvement work performed
Tenant Coordination Fee: **	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	4.9
DDR		1.2
Total Capital	$	6.1
Debt	$	18.5
Total Debt & Equity	$	24.6

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.
**	Fee shall not be paid with respect to the initial leasing or development.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Montgomery Farm LLC
Date Formed:	May, 2006
Property Name/Location:	Montgomery Farm — Allen, TX
Major Tenants:	Market Street United, P.F. Changs, Eddie Bauer, Francesca’s Collection, Origins, Ann Taylor Loft and other retail tenants and restaurants to be announced.
Partnership Structure
Coventry II DDR/Trademark Montgomery Farm L.P.
Equity Contribution:	50% — Trademark Montgomery Farm L.P
	50% — Coventry II DDR Montgomery Farm LLC
Cash Flow Distribution:	50% — Trademark Montgomery Farm L.P
	50% — Coventry II DDR Montgomery Farm LLC
	(After Coventry II DDR Montgomery Farm, LLC receives a 15% preferred return on its equity contribution.)
Coventry II DDR Montgomery Farm LLC
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	2% of gross income
Development Fee:	1% of all hard and soft costs
Lease Review Fee:	$1 per square foot

Capital Structure (in millions)

Coventry II Fund	$	25.7
DDR		6.4
Total Capital	$	32.1
Debt	$	—
Total Debt & Equity	$	32.1

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Phoenix Spectrum LLC
Date Formed:	March 2004
Property Name/Location:	Spectrum Mall — Phoenix, AZ
Major Tenants:	Wal-Mart
	Costco Wholesale
	Ross Dress For Less
	PetsMart
	Walgreens
	Harkins Theater
	Famous Footwear
	Big 5 Sporting Goods
Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	5% of all hard and soft costs
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	26.8
DDR		6.9
Total Capital	$	33.7
Debt	$	47.5
Total Debt & Equity	$	81.2

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Service Holdings LLC
Date Formed:	September 2006
Property Name/Location:	The Joint Venture consists of 48 fee simple, leasehold and groundlease interests previously owned by the Service Merchandise Company, Inc. In total, these properties are located in 23 states across the United States.
Partnership Structure
Equity Contribution:	80.00% — Coventry II Fund
	20.00% — DDR
Cash Flow Distribution:	80.00% — Coventry II Fund *
	20.00% — DDR
Fees to DDR
Management Fee:	4.0% of gross income
Development Fee:	5.0% of all hard costs
Leasing Fees:	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-10 (ground leases)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
Commission on Outparcel Sales:	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	41.0
DDR		10.2
Total Capital	$	51.2
Debt	$	132.2
Total Debt & Equity	$	183.4

*	Coventry II Fund:
	DDR is also entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Totem Lakes LLC
Date Formed:	January 2004
Property Name/Location:	Totem Lakes Mall — Kirkland, WA
Major Tenants:	Guitar Center	Denny’s Pet World
	Trader Joe’s	CompUSA
	Big 5 Sporting Goods	Famous Footwear
	Totem Lake Theater	Ross Dress For Less

Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	5% of all hard and soft costs
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	14.5
DDR		3.6
Total Capital	$	18.1
Debt	$	20.4
Total Debt & Equity	$	38.5

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Tri County LLC
Date Formed:	May 2006
Property Name/Location:	Tri County Mall — Cincinnati, OH

Major Tenants:	Dillard’s	Macy’s (Not Owned)
	Abercrombie & Fitch	Sears
	Limited	New York & Co.
	Victoria’s Secret	Ann Taylor Loft

Partnership Structure
Thor Gallery at Tri County, LLC
Ownership Percentage:	.5% — Thor MM Gallery at Tri County, LLC
	9.5% — Thor Gallery at Tri County Mezz, LLC
	90.0% — Coventry II DDR Tri County LLC
Equity Contribution:	.5% — Thor MM Gallery at Tri County, LLC
	9.5% — Thor Gallery at Tri County Mezz, LLC
	90.0% — Coventry II DDR Tri County LLC
Coventry II DDR Tri County LLC
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	The Greater of $650,000 or 2.5% of Gross Income
Development/Leasing Fee:	$500,000

Capital Structure (in millions)

Coventry II Fund	$	29.6
DDR		7.3
Total Capital	$	36.9
Debt	$	169.8
Total Debt & Equity	$	206.7

*	Coventry II Fund:
	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Ward Parkway LLC
Date Formed:	June 2003
Property Name/Location:	Ward Parkway — Kansas City, MO
Major Tenants:	Target (not owned)	Old Navy
	Dillards	Off Broadway Shoes
	Pier One Imports	24 Hour Fitness
	TJ Maxx	Dick’s Sporting Goods
	AMC Theatre	Petsmart
	Steve & Barry’s University

Partnership Structure
Equity Contribution:	80% — Coventry II Fund
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund *
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	5% of all hard and soft costs
Leasing Fees:	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of gross sales price £ $500,000 (outparcel sales)
	5% of gross sales price $500,001 — $1,000,000 (outparcel sales)
	4% of gross sales prices > $1,000,000 (outparcel sales)
Construction Management Fee:	5% of all development and tenant improvement work performed
Tenant Coordination Fee:	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	19.1
DDR		4.8
Total Capital	$	23.9
Debt	$	36.0
Total Debt & Equity	$	59.9

* Coventry II Fund:

DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Coventry II DDR Westover LLC / DDR DB 151 Ventures LP
Date Formed:	June 2004
Property Name/Location:	Westover Marketplace — San Antonio, TX
Major Tenants:	Target (not owned)
	Lowe’s (not owned)
	Ross
	Petsmart
	Sportsman’s Warehouse
	Office Depot
Partnership Structure
DDR DB 151 Ventures LP
Ownership Percentage:	50% — Coventry II DDR Westover LLC
	50% — ERA 151 Partners, Ltd. (Development Partner)
	(No equity contributions at the partnership level)
Cash Flow Distribution:	50% — Coventry II DDR Westover LLC
	50% — ERA 151 Partners, Ltd. (Development Partner)
	(After repayment of 10.5% interest on the Coventry II DDR Westover loan and repayment of the
	loan)
Coventry II DDR Westover LLC
Equity Contribution:	80% — Coventry II Fund*
	20% — DDR
Cash Flow Distribution:	80% — Coventry II Fund*
	20% — DDR
Fees to DDR
Management Fee:	4% of gross income
Development Fee:	1% of all project costs less land
Leasing Fees: **	6% on new leases on years 1-5; 3% on remainder of term (spaces < 5,000 square feet)
	4.5% on new leases on years 1-5; 2.25% on remainder of term (spaces 5,000 — 10,000 square feet)
	3.5% on new leases on years 1-5; 1.75% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2 per square foot (spaces > 20,000 square feet)
	4% on new leases on years 1-10 (ground lease)
	3% for renewals on years 1-5; 1.5% on remainder of term (spaces < 5,000 square feet)
	2.25% for renewals on years 1-5; 1.125% on remainder of term (spaces 5,000 — 10,000 square feet)
	1.75% for renewals on years 1-5; 1% on remainder of term (spaces 10,000 — 20,000 square feet)
	$1 per square foot for renewals (spaces > 20,000 square feet)
	2% on renewals on years 1-10 (ground lease)
	6% of Gross Sales Price up to $500,000 (Outparcel Sales)
	5% of Gross Sales Price over $500,000 but less than $1,000,000 (Outparcel Sales)
	4% of Gross Sales Price $1,000,000 or over (Outparcel Sales)
Construction Management Fee: **	5% of all development and tenant improvement work performed
Tenant Coordination Fee: **	5% of all hard and soft costs

Capital Structure (in millions)

Coventry II Fund	$	5.0
DDR		1.2
Total Capital	$	6.2
Debt	$	18.7
Total Debt & Equity	$	24.9

*	DDR also is entitled to a promote as a special member of the Coventry II Fund equal to 10% of all cash flow distributions after the distribution to all members of the Coventry II Fund of (i) a 10% preferred return on all contributed capital in all Coventry II Fund investments and (ii) 100% of the unreturned contributed capital in all Coventry II Fund investments.
**	Fee shall not be paid with respect to the initial leasing or development.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Sonae Sierra Brazil BV Sarl
Date Formed:	October 2006
Property Name/Location:	The joint venture consists of the following 9 properties:
	Parque Dom Pedro — Campinas, Brazil	Franca Shopping — Franca, Brazil
	Shopping Penha — Sao Paulo, Brazil	Tivoli — Sao Paulo, Brazil
	Boavista Shopping — Sao Paulo, Brazil	Shopping Metropole — Sao Bernardo de Campo, Brazil
	Plaza Sul — Sao Paulo, Brazil	Campo Limpo Shopping — Estrada do Campo Limpo, Brazil
	Patio Brasil Shopping — Brasilia, Brazil
Major Tenants:	Sonda
	Lojas Americanas
	Center Lider
	Renner
Management and Leasing Company:	DDR owns a 50% interest in the management and leasing company.
Partnership Structure
Sonae Sierra Brasil Limitada
Ownership Percentage:	94.30% — Sonae Sierra Brazil BV Sarl
	5.70% — Enplanta Engenharia
Cash Flow Distribution:	94.30% — Sonae Sierra Brazil BV Sarl
	5.70% — Enplanta Engenharia
Sonae Sierra Brazil BV Sarl
Equity Contribution:	50% — DDR
	50% — Sonae Sierra SGPS S.A.
Cash Flow Distribution:	50% — DDR
	50% — Sonae Sierra SGPS S.A.
Fees to DDR
None.

Capital Structure (in millions)

DDR	$	113.8	*
Sonae Sierra SGPS S.A.		113.8
Total Capital	$	227.6
Debt	$	—
Total Debt & Equity	$	227.6

* The capital structure above reflects the historical basis of the assets. DDR acquired a 50% interest in this investment in October 2006 for approximately $148 million. In January 2007, the joint venture acquired an additional 73% interest in Shopping Metropole, of which DDR’s investment was approximately $23.9 million. With respect to the capital structure above, approximately $8.4 million relates to the value of the working capital.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDRTC Core Retail Fund, LLC
Date Formed:	February 2007
Property Name/Location:	The joint venture consists of the following 66 properties:
	Cox Creek Shopping Center — Florence, AL		Goody’s Shopping Center — Augusta, GA
	Westside Centre — Huntsville, AL		Village Crossing — Skokie, IL
	River Ridge — Birmingham, AL		Costco Plaza — White Marsh, MD
	McFarland Plaza — Tuscaloosa, AL		Chatham Crossing — Siler City, NC
	Naugatuck Valley — Waterbury, CT		Oak Summit — Winston-Salem, NC
	Universal Plaza — Lauderhill, FL		Winslow Bay Commons — Mooresville, NC
	Walks at Highwood Preserve — Tampa, FL		Sycamore Commons — Matthews, NC
	Cypress Trace — Ft. Meyers, FL		Bi-Lo Southern Pines — Southern Pines, NC
	Market Place — Ft. Meyers, FL		Gateway Plaza — Jacksonville, NC
	Circuit City Plaza — Orlando, FL		Alexander Place — Raleigh, NC
	Sand Lake Corners — Orlando, FL		Capital Plaza — Wake Forest, NC
	Boynton Commons — Boynton Beach, FL		Willoughby Hills Shopping Center — Willoughby Hills, OH
	Gateway Market Center — St. Petersburg, FL		Carlisle Commons — Carlisle, PA
	Sarasota Pavilion — Sarasota, FL		Overlook at King of Prussia — King of Prussia, PA
	Shoppes at Lake Mary — Lake Mary, FL		Warwick Center — Warwick, RI
	Bartow Marketplace — Cartersville, GA		Aiken Exchange — Aiken, SC
	David’s Bridal Center — Macon, GA		Anderson Central — Anderson, SC
	Eisenhower Crossing — Macon, GA		North Hill Commons — Anderson, SC
	Woodstock Square — Woodstock, GA		Columbiana Station — Columbia, SC
	Southlake Pavilion — Morrow, GA		Target Center — Columbia, SC
	Barrett Pavilion — Kennesaw, GA		Bellevue Place Shopping Center — Nashville, TN
	Heritage Pavilion — Smyrna, GA		Town & Country — Knoxville, TN
	Newnan Pavilion — Newnan, GA		Turkey Creek — Knoxville, TN
	Stonecrest Marketplace — Lithonia, GA		Chesterfield Crossing — Richmond, VA
	Douglas Pavilion — Douglasville, GA		Commonwealth Center — Richmond, VA
	Fayette Pavilion — Fayetteville, GA		Creeks at Virginia Center — Glen Allen, VA
	Stonebridge Sqauare — Roswell, GA		Wards Crossing — Lynchburg, VA
	Marketplace at Millcreek — Buford, GA		Jefferson Plaza — Newport News, VA
	Venture Pointe — Duluth, GA		Wytheville Commons — Wytheville, VA
	Pleasant Hill — Duluth, GA		Hillsboro Square — Deerfield Beach, FL
	Suwanee Crossroads — Suwanee, GA		Paradise Place — West Palm Beach, FL
	City Crossing — Warner Robins, GA		Birkdale Village — Huntersville, NC
	Hiram Pavilion — Hiram, GA		Waterfront Marketplace/Towne Center — Homestead, PA
Major Tenants:	Best Buy	Stop & Shop	Kohl’s	Hobby Lobby
	Dick’s Sporting Goods	Wal-Mart	HH Gregg	JcPenney
	Linen’s & Things	Beall’s	AMC Theatre	Crown Theatre
	Target	Staples	Jo-Ann Fabrics	Costco
	Baby Superstore	Petsmart	Homegoods	Giant Eagle
	Bed Bath & Beyond	Sports Authority	Home Depot	Sam’s Club
	Comp USA	Office Depot	Babies R Us	Cinemark USA
	Goody’s	Publix Supermarkets	Best Buy	United Artists Theatre
	Marshall’s	TJ Maxx	Sports Authority	Food City
	Ross Dress for Less	Old Navy	Tinseltown USA	Carmlike Cinemas
	Stein Mart	Lowe’s	Belk	Staples
	Circuit City	Kroger	DSW Shoe Warehouse	Filene’s Basement
	Toys R Us	Ross Dress for Less	Ashley’s Furniture	Loew’s Theatre

Partnership Structure

Equity Contribution:	85% — TREA Retail Property Portfolio 2006, LLC (“TIAA”)
	15% — DDR
Cash Flow Distribution:	85% — TIAA
	15% — DDR
Promote (current):	(i) Pro rata in proportion to DDR and TIAA equity interest until both have been allocated an amount equal to a 11% annual internal rate of return, and (ii) 15% to DDR and 85% to DDR and TIAA in proportion to their equity interest.

Joint Venture Partnership Summaries 2.0

Fees to DDR
Property Management Fee:	4.0% of revenues
Construction Management Fee:	5.0% of total costs for all improvements in excess of $25,000
Asset Management Fee:	.25% of the aggregate capital contributions and member loans
Acquisition Fee:	.25% of the gross purchase price of the properties
Ancillary Income Fee:	25% of all funds generated from ancillary income sources
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on years 6-10; nothing thereafter
	3.0% on renewals on years 1-5; 3.0% on years 6-10; nothing therafter
	$2.00 per square foot (spaces > 20,000 square feet)
	6.0% on new outparcel ground leases on years 1-5; 3.0% on years 6-10; nothing thereafter
	2.0% on renewals outparcel ground leases on years 1-5; 1.0% on years 6-10; nothing thereafter
Commission on Outparcel Sales:	6.0% of gross sales price up to $1,000,000
	5.0% of gross sales price $1,000,000 — $1,500,000
	4.0% of gross sales price over $1,500,000

Capital Structure (in millions)

DDR	$	182.9
TIAA		1,036.7
Total Capital	$	1,219.6
Payable to DDR	$	3.2
Debt	$	1,802.1
Total Debt & Equity	$	3,024.9

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	Inland-SAU Retail Fund, L.L.C.
Date Formed:	Initially formed May 2005. DDR acquired its interest February 2007.
Property Name/Location:	The joint venture consists of the following 28 properties:
	Blockbuster — Marietta, GA	Broadmoor Plaza — South Bend, IN
	South Square — Durham, NC	Milan Plaza — Milan, MI
	Wendover II — Greensboro, NC	Alexander Pointe — Salisbury, NC
	North Hampton — Taylors, SC	Harper Hill Commons — Winston-Salem, NC
	Crossroads Square — Morristown, TN	The Point — Greenville, SC
	Brookhaven — Atlanta, GA	Plaza at Carolina Forest — Myrtle Beach, SC
	Cascade Corners — Atlanta, GA	West Towne Commons — Jackson, TN
	Cascade Crossing — Atlanta, GA	American Way — Memphis, TN
	Hickory Flat Village — Canton, GA	Willowbrook Commons — Nashville, TN
	Flat Shoals Crossing — Decatur, GA	Oakland Market Place — Oakland, TN
	Deshon Plaza — Stone Mountain, GA	Kroger Junction — Pasadena, TX
	The Shops at Johns Creek — Suwanee, GA	Kroger Plaza — Virgina Beach, VA
	Hilander Village — Roscoe, IL	Waynesboro Commons — Waynesboro, VA
	Glenlake Plaza — Indianapolis, IN	Patterson Place — Durham, NC
Major Tenants:	Office Depot	Publix Supermarkets
	Ross Dress for Less	Harris Teeter
	Circuit City	Whole Foods
	Petco	Bed Bath & Beyond
	Hobby Lobby	DSW Shoe Warehouse
	Petsmart	Kroger
	TJ Maxx
Partnership Structure
Equity Contribution:	80% — Special Account-U, L.P. (SAU)
	20% — DDR
Ordinary Cash Flow Distribution:	80% — SAU
	20% — DDR
Major Capital Cash Flow Distribution:	(i) Pro-rata amount equal to the unreturned capital of SAU and DDR (ii) internal rate of return (IRR) less than 11%, distribute according to percentage interests (iii) IRR between 11-13%, a 5% incentive distribution to DDR, remaining distribution according to percentage interests (iv) IRR greater than 13%, a 25% incentive distribribution to DDR, remaining distribution according to percentage interests.
Fees to DDR
Property Management and Leasing Fee:	4.5% of revenues	3% incremental total construction cost $300,001 -$450,000
Construction Management Fee:	5% total construction cost $25,000-$150,000	2% incremental total construction cost $450,001 and more
	4% incremental total construction cost $150,001-$300,000
Asset Management Fee:	.15% of the gross asset value for each property
Acquisition Fee:	.50% of the gross purchase price (excluding commissions and transaction costs) of the properties

Capital Structure (in millions)

DDR	$	22.0
SAU		88.0
Total Capital	$	110.0	*
Payable to DDR	$	0.2
Debt	$	213.7
Total Debt & Equity	$	323.9	*

* Reflects historical basis

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDR Macquarie LLC (Fund LLC, Management LLC, and U.S. Trust Inc.)
Date Formed:	November 2003
Property Name/Location:	The joint venture consists of the following 48 properties:
	Union Consumer Square — Cheektowaga, NY	The Plazas at Great Northern — North Olmsted, OH
	Walden Consumer Square — Cheektowaga, NY	Riverdale Village — Coon Rapids, MN
	Dick’s Plaza — Cheektowaga, NY	Midway Marketplace — St. Paul, MN
	Walden Place — Cheektowaga, NY	River Hills Shopping Center — Asheville, NC
	Borders Books — Cheektowaga, NY	Township Marketplace — Monaca, PA
	Eastgate Plaza — Clarence, NY	The Marketplace — Nashville, TN
	Premier Place — Clarence, NY	BJ’s Batavia — Batavia, NY
	Regal Cinemas — Clarence, NY	Tops Plaza — Batavia, NY
	Jo-Ann Plaza — Clarence, NY	Batavia Commons — Batavia, NY
	Barnes & Noble — Clarence, NY	Towne Center — Murfreesboro, TN
	New Hartford Consumer Square — Utica, NY	Perimeter Pointe — Atlanta, GA
	Merriam Town Center — Merriam, KS	Woodfield Village Green — Schaumburg, IL
	Spring Creek Center — Fayetteville, AR	Fairfax Towne Center — Fairfax, VA
	Steele Crossing — Fayetteville, AR	Belden Park Crossings — Canton, OH
	Carillon Place — Naples, FL	Independence Commons — Independence, MO
	Towne Center Prado — Marietta, GA	Erie Marketplace — Erie, PA
	Shoppers World — Framingham, MA	Riverchase Promenade — Birmingham, AL
	Harbison Court — Columbia, SC	Lakepointe Crossing — Lewisville, TX
	Connecticut Commons — Plainville, CT	Lake Brandon Village — Brandon, FL
	Pioneer Hills — Aurora, CO	Lake Brandon Plaza — Brandon, FL
	Cool Springs Pointe — Brentwood, TN	MacArthur Marketplace — Irving, TX
	Brown Deer Center — Brown Deer, WI	Shoppers World of Brookfield — Brookfield, WI
	Brown Deer Market — Brown Deer, WI	Parker Pavilions — Parker, CO
	McDonough Marketplace — McDonough, GA	Grandville Marketplace — Grandville, MI

Major Tenants:	A.C. Moore	Dollar Tree	Pier 1 Imports
	AMC Theatres/General Cinema	Famous Footwear	Publix Supermarkets
	Barnes & Noble Superstores	Hallmark	Regal Cinemas
	Bed Bath & Beyond	Home Depot	Retail Ventures, Inc.
	Best Buy	Jo-Ann Stores	Ross Dress for Less
	BJ’s Wholesale Club	Kohl’s	Safeway
	Bobs	Linens ‘N Things	Sports Authority
	Borders Books	Lowe’s	Stein Mart
	Catherine’s/Fashion Bug/Lane Bryant	Michael’s	Supervalue, Inc.
	Cinemark Theatres	Office Depot	TJX Companies
	Circuit City	OfficeMax	Toys “R” Us/Babies “R” Us
	Comp USA	Old Navy (Gap, Inc.)	United Artists Theatre
	Cost Plus World Market	Party City	Wal-Mart/Sam’s Club
	Dick’s Sporting Goods	PetSmart

Partnership Structure
Equity:	14.78% — DDR	Cash Flow Distribution:	Variable*
	0.64% — Macquarie Bank Limited (“MBL”)
	84.58% — Macquarie DDR Trust (“MDT”)
Promote:	Quarterly Base Fee allocation to DDR and MBL. If certain criteria are met, there is a special income allocation to DDR and MBL for a Performance Fee.

Fees to DDR
Property Management Fee:	4.0% of gross revenues
Development Fee:	5.0% of total costs for all improvements
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 - 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 - 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (outparcels and ground leases)
	Renewals earn 50% of fees on new leases for spaces less than 20,000 square feet. For spaces of
	20,000 square feet or more, renewals earn $2.00 per square foot for an amendment to a material term of a lease or $1.00 per square foot where there is no amendment to a material term of the lease.
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 - $1,000,000
	4.0% of gross sales price $1,000,000 or over
Sponsor’s Fee:	DDR received $2.9 million which was paid upon completion of the Australian initial public offering.
Acquisition Fees:	Up to 1.0% of the purchase price for third party assets
Disposition Fee:	Market rate not to exceed 1% of the sale price of the property to a third party
Debt Placement Fee:	50bp of the borrowings raised
Due Diligence Fee:	12.5bp of MDT’s interest in the purchase price of the acquisition
Construction Management Fee:	5.0% of the cost of capital improvements
Maintenance Service Fee:	Based on time spent at the properties by DDR personnel

Capital Structure (in millions)

DDR	$	95.2
MBL		4.1
MDT		544.9
Total Capital	$	644.2
Payable to DDR, net	$	0.2
Debt	$	1,051.7
Total Debt & Equity	$	1,696.1

* DDR and MBL receive a Base Fee as part of their distributions. The Base Fee is a percentage of the fair market value of the properties held by DDR Macquarie Fund LLC plus the book value of certain other assets held by DDR Macquarie Fund LLC. The prorata share of distributions made to MDT is reduced by the Base Fee. As such, the distribution percentages as well as the dollar amount of the distribution vary depending on the amount of the Base Fee.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:	DDR MDT PS LLC
Date Formed:	June 2006
Property Name/Location:	The joint venture consists of the following 6 properties:
	The Shops at Turner Hill — Lithonia, GA	McKinney, TX — McKinney, TX
	Flatacres Marketcenter — Parker, CO	The Marketplace at Towne Center — Mesquite, TX
	Frisco Marketplace — Frisco, TX	Overland Pointe Marketplace — Overland Park, KS

Major Tenants:	Babies R Us	Linens ‘N Things
	Bed Bath & Beyond	Michael’s
	Best Buy	Ross Dress for Less
	Gart Sports	Toys R Us
	Kohl’s

Partnership Structure
Equity Contribution:	Peferred:
	100% — MDT (entitled to a 9% return)
	Common:
	Senior 85.5% — MDT (entitled to a 10% return)
	Subordinate 14.5% — DDR (entitled to a 10% return)
Cash Flow Distribution:	Variable*
Promote:	DDR is entitled to a 20% promote and 14.5% of the remaining 80% that is allocated to all members in proportion to their ownership interests once all cash flow distributions discussed above are achieved.
Fees to DDR
Property Management Fee:	4.0% of gross revenues
Development Fee:	5.0% of total costs for all improvements
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 — 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (outparcels and ground leases)
	Renewals earn 50% of fees on new leases for spaces less than 20,000 square feet. For spaces of
	20,000 square feet or more, renewals earn $2.00 per square foot for an amendment to a material term of a lease or $1.00 per square foot where there is no amendment to a material term of the lease.
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 — $1,000,000
	4.0% of gross sales price $1,000,000 or over
Acquisition Fees:	Up to 1.0% of the purchase price for third party assets
Disposition Fee:	Market rate not to exceed 1% of the sale price of the property to a third party
Debt Placement Fee:	12.5bps of the borrowings raised
Structuring & Advising Fee:	25bps of purchase price
Due Diligence Fee:	25bps of MDT’s interest in the purchase price of the acquisition
Construction Management Fee:	5.0% of the cost of capital improvements
Maintenance Service Fee:	Based on time spent at the properties by DDR personnel

Capital Structure (in millions)

DDR	$	(0.4)	**
MDT — preferred		13.1
MDT — senior		22.6
Total Capital	$	35.3
Receivable from DDR, net	$	(2.0	)(primarily master lease receivable)
Debt	$	86.0
Total Debt & Equity	$	119.3

*

(i) DDR and MBL receive a Base Fee as part of their distributions. The Base Fee is a percentage (0.45%) of the fair market value of the properties held by DDR MDT PS LLC plus the book value of certain other assets held by DDR MDT PS LLC. The prorata share of distributions made to MDT is reduced by the Base Fee. As such, the distribution percentages as well as the dollar amount of the distribution vary depending on the amount of the Base Fee. After distribution of Base Fee (ii) to MDT in an amount equal to their 9% preferred return on $12.2 million, (iii) to MDT in an amount equal to their 10% senior return on $20.8 million, (iv) to DDR in an amount equal to their 10% subordinate return on $3.5 million, (v) 20% of remaining funds to DDR with 14.5% to DDR and 85.5% to MDT of remaining 80%.

**

Due to subordination of returns, investment balance on DDR accounts is at $0.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Consolidated Joint Ventures

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

Joint Venture Investment Summary

Joint Venture Name:*	DDR MDT MV LLC
Date Formed:	September 2005
Property Name/Location:	The joint venture consists of 37 fee simple, leasehold and groundlease interests.
	The properties are located in California, Arizona, Nevada and Texas.
Partnership Structure
Equity Contribution:	50.0225% — DDR                                           Cash Flow Distribution: Variable (1)
	49.9775% — Macquarie DDR Trust (“MDT”)
Promote:	Quarterly Base Fee allocation to DDR and MBL. If certain criteria are met, there is a special income allocation to DDR and MBL for a Performance Fee.
Fees to DDR
Property Management Fee:	4.0% of gross revenues
Development Fee:	5.0% of total costs for all improvements
Leasing Fees (without co-broker):	6.0% on new leases on years 1-5; 3.0% on remainder of term (spaces < 5,000 square feet)
	5.0% on new leases on years 1-5; 2.5% on remainder of term (spaces 5,000 — 10,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on remainder of term (spaces 10,000 — 20,000 square feet)
	$2.00 per square foot (spaces > 20,000 square feet)
	4.0% on new leases on years 1-5; 2.0% on years 6-10 (outparcels and ground leases)
	Renewals earn 50% of fees on new leases for spaces less than 20,000 square feet. For spaces of
	20,000 square feet or more, renewals earn $2.00 per square foot for an amendment to a material term of a lease or $1.00 per square foot where there is no amendment to a material term of the lease.
Commission on Outparcel Sales:	6.0% of gross sales price up to $500,000
	5.0% of gross sales price $500,000 — $1,000,000
	4.0% of gross sales price $1,000,000 or over
Acquistion Fee	Up to 1.0% of the purchase price for third party assets
Debt Placement Fee	12.5bp of the borrowings raised
Structuring & Advisory Fee	25bp of Purchase Price
Disposition Fee:	Market rate not to exceed 1% of the sale price of the property to a third party
Due Diligence Fee:	12.5bp of MDT’s interest in the purchase price of the acquisition
Construction Management Fee:	5.0% of the cost of capital improvements

Capital Structure (in millions)

DDR	$	77.9
MDT		77.9
MBL		—
Total Capital	$	155.8
Payable to DDR	$	0.1
Debt	$	258.5
Total Debt & Equity	$	414.4

*

The joint venture was consolidated into DDR in accordance with FIN 46.

(1)

DDR and MBL receive a Base Fee as part of their distributions. The Base Fee is a percentage of the fair market value of the properties held by DDR MDT MV LLC plus the book value of certain other assets held by DDR MDT MV LLC. The prorata share of distributions made to MDT is reduced by the Base Fee. As such, the distribution percentages as well as the dollar amount of the distribution vary depending on the amount of the Base Fee.

Joint Venture Partnership Summaries 2.0

Developers Diversified Realty
Appendix to Quarterly Financial Supplement
For the three months ended March 31, 2007

	Joint Venture Investment Summary
Joint Venture Name:	*Shea and Tatum Associates Limited Partnership
Date Formed:	January 1, 1995 (acquired January 2, 2003)
Property Name/Location:	Paradise Village Gateway — Phoenix, AZ
Major Tenants:	Albertson’s
	Bed Bath & Beyond
	Petsmart
	Ross
	Staples
Partnership Structure
Equity Contribution:	67% — DDR
	33% — Churchill Family Trust
Cash Flow Distribution:	67% — DDR
	33% — Churchill Family Trust
Fees to DDR
Management Fee:	5% of gross income
Development Fee:	5% of total costs for all improvements (excluding land)
Leasing Fees (without co-broker):	$3.50 per square foot for spaces < 5,000 square feet
	$3.00 per square foot for spaces 5,000 — 10,000 square feet
	$2.50 per square foot for spaces 10,000 — 25,000 square feet
	$2.00 per square foot for spaces 25,000 — 50,000 square feet
	$1.50 per square foot for spaces over 50,000 square feet
	Renewals earn 50% of fees on new leases
	5.0% on new ground leases on years 1-5
Commission on Outparcel Sales:	5% of gross sales price

Capital Structure (in millions)
DDR	$	4.7
Churchill Family Trust		(2.1	)
Total Capital	$	2.6
Debt	$	30.0
Total Debt & Equity	$	32.6

*The joint venture was consolidated into DDR in accordance with EITF 04-05.

Joint Venture Partnership Summaries 2.0