BEACHWOOD, Ohio, Dec. 15, 2011 /PRNewswire/ -- DDR Corp. (NYSE: DDR) today announced the appointment of Luke Petherbridge as senior vice president of capital markets. In this role Mr. Petherbridge will be primarily responsible for capital raising, actively managing the balance sheet and maintaining strong lender relationships.
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"We're pleased to continue to attract top talent from around the world as we broaden our management team. Luke will be an important addition to our capital markets division, which continues to make progress in our consistent efforts to lower our cost of capital and extend our debt duration," said David J. Oakes, chief financial officer for DDR. "Given Luke's history with our company and knowledge of our assets, his contributions will be significant and immediate."
Prior to joining DDR, Mr. Petherbridge served recently as the chief executive officer and a director of shopping center owner EDT Retail Trust (formerly Macquarie DDR Trust), a company which had been publicly traded on the Australian Stock Exchange and previously managed in a joint venture between DDR and Macquarie Group. Before that, Mr. Petherbridge served as director of transactions with boutique real estate investment company Rubicon Asset Management. While in this role, Mr. Petherbridge worked on transactions focusing on United States, European and Japanese real estate and real estate structured finance.
Mr. Petherbridge holds his bachelor of commerce from Macquarie University and his higher school certificate from Oakhill College. A current resident of Sydney, Australia, Mr. Petherbridge will relocate with his family to Cleveland, Ohio.
DDR is an owner and manager of 538 value-oriented shopping centers representing 134 million square feet in 41 states, Puerto Rico and Brazil. The company's assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the company is available at www.ddr.com.
SOURCE DDR Corp.