Category: News

VTB Capital has appointed Xin Lin and Wei Chen to its Hong Kong office, as part of VTB Capital’s growing business in the Asia-Pacific region. Lin has been appointed as VTB Capital’s head of multiproduct sales for China, where she will be responsible for sales & origination and fixed income across Chinese corporate, investor and financial institutional clients.

PRESS RELEASE

VTB Capital announces the appointment of Xin Lin and Wei Chen to its Hong Kong office, as part of VTB Capital’s growing business in the Asia-Pacific region.

Xin Lin has been appointed as VTB Capital’s Head of Multiproduct Sales for China, where she will be responsible for Sales & Origination and Fixed Income across Chinese corporate, investor and financial institutional clients. Functionally she will report jointly to Philip Hamilton, Global Fixed Income Sales, and Makram Abboud, CEO Middle East & Africa for VTB Capital plc and Co-Head of the International Multi-Product Origination and Distribution group for VTB Capital plc, and regionally to Damian Chunilal, CEO Asia for VTB Capital.

Xin Lin joins VTB Capital from Nomura International Limited Hong Kong, where she was Head of Global Finance, COO of China, since 2008. Prior to Nomura, Xin Lin worked at Lehman Brothers as Head of Risk Solutions Group and Global Finance, China, between 2005 and 2008. She also held senior positions in the fixed income division at the UBS Hong Kong office, between 2001 and 2005. Xin Lin began her career at JP Morgan’s Singapore division in 1998 after graduating with an honors degree from the National University of Singapore.

Wei Chen recently joined VTB Capital’s Corporate & Investment Coverage team, covering Chinese corporate and financial institutional clients. Operationally, she will report to Riccardo Orcel, Deputy CEO at VTB Group, and regionally to Damian Chunilal.

Between 2000 and 2006, Wei Chen worked at the Investment Banking Division of Lehman Brothers in New York and Hong Kong. She worked at Global Market of Deutsche Bank in Hong Kong between 2006 and 2012. Wei is also a member of Jiangxi Provincial Committee of the Chinese People’s Political Consultative Conference, member of Shanghai Women’s Federation and member of All China Youth Federation. She holds a PhD degree from China Academy of Social Science, a Masters degree from the University of Southern California and a Bachelors Degree from Fudan University.

In her new role, Wei Chen will be responsible for covering the Chinese government, corporate and financial institutional clients. She will be focusing on China, covering state owned entities as well as private sector clients, and covering clients across the entirety of VTB’s corporate and investment banking capabilities.

Atanas Bostandjiev, CEO, UK and International of VTB Capital plc, noted: “China is Russia’s largest trading partner in Asia, and both countries are continuing to actively develop bilateral cooperation. I am confident that the appointments of Xin Lin and Wei Chen at VTB Capital’s Hong Kong office will significantly expand the company’s business opportunities in one of our most important markets.”

Damian Chunilal said: “VTB Capital continues to pursue a strategy of international expansion, with an actively growing customer base, range of products and services in Asia. China is Russia’s largest trading partner and is of strategic importance to VTB Capital. These senior level hires demonstrate our continued commitment to the Chinese market and to our Asian strategy. I am certain that with their extensive experience and unique local market knowledge, Xin Lin and Wei Chen will strengthen and give further impetus to VTB Capital’s fast growing business in the region.”

Press Office

Vadim Bely
[email protected]

Julia Govorun
[email protected]

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VERSUS IO has completed its Series A funding round led by Earlybird Venture Capital. The round also includes additional investments from 500 Startups led by Dave McClure who initially invested $100,000 in December 2012, seed investor High-Tech Gründerfonds and angel investors Lars Dittrich and Dario Suter. To date VERSUS IO has raised $1 million in total.

PRESS RELEASE

VERSUS IO, the world’s most sophisticated product comparison platform, today announced it has completed its Series A funding round led by Earlybird Venture Capital. VERSUS IO enables users to compare consumer technology products like smartphones and tablets, cities and more. Using VERSUS IO, consumers are able to view results in a simple and clear format, without “information overload” and ultimately allowing consumers to digest complex product data quickly and efficiently.

VERSUS IO uses a unique sophisticated natural language algorithm and user interface styling that presents its results in a way that appeals to a users’ logic psyche and is incredibly useful. There are now 25 million comparisons available to consumers on the site in 18 languages. Since its launch in July 2011, VERSUS IO traffic has increased on average by 35% each month and is now attracting 2.2 million unique visitors each month.

The round also includes additional investments from 500 Startups led by Dave McClure who initially invested $100K in December 2012, seed investor High-Tech Gründerfonds and angel investors Lars Dittrich and Dario Suter. To date VERSUS IO has raised $1M in total.

“We have worked very hard to build an amazing platform and, as a result, have experienced impressive growth and extremely positive feedback from our users,” said Ramin G. Far, CEO and founder at VERSUS IO. “The closure of our Series A round is further evidence of the significant opportunities that are emerging in the comparison landscape. I can’t wait to see what the future holds.”

“We’re very excited to be investing in VERSUS IO and believe it has the potential to disrupt the product comparison scene” said Dr. Christian Nagel, Co-founder and Partner at Earlybird Venture Capital. “VERSUS IO’s exponential growth over the past year reflects a massive demand among consumers who want to make more informed purchase decisions. Ramin and his team have an ambitious and exciting growth plan and we are looking forward to being part of its execution.”

“VERSUS IO’s ability to take a sophisticated algorithm and make it so incredibly simple to use is one of the main reasons it caught me eye,” commented Dave McClure, Founding General Partner at 500 Startups. “I’ve enjoyed working closely with Ramin in recent months and I’m looking forward to the next stage of VERSUS IO’s journey. I’m predicting big things.”

ABOUT EARLYBIRD

Established in 1997 Earlybird currently manages over $700M in assets. We have backed more than 80 companies, some of which have sparked significant innovations in business and technology and resulted in large scale ($1bn+) IPOs and trade sales. Earlybird backs European companies with global ambitions and our active portfolio currently includes more than 20 companies across the consumer internet and enterprise services space such as 6Wunderkinder, Auctionata, B2X Care Solutions, Carpooling.com, Madvertise, Peak Games, Socialbakers, Smava, Traxpay, THE Football App and VERSUS IO.

PRESS CONTACT EARLYBIRD

Christine Hoefer
+49 30 46 72 470 20
[email protected]

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H.I.G. Capital has held a final closing of H.I.G. Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the fund exceeded its $1 billion target.

PRESS RELEASE

H.I.G. Capital announced today that it has held its final closing of H.I.G. Bayside Loan Opportunity Fund III (Europe). Total capital commitments to the fund exceeded its $1 billion target. The fund will invest primarily in debt obligations of small and medium-sized European companies, both existing loans acquired on the secondary markets as well as newly originated primary loans. With offices in London, Paris, Hamburg and Madrid, H.I.G. Capital has a team of 70 investment professionals in Europe.

Sami Mnaymneh and Tony Tamer, co-founders and Managing Partners of H.I.G. Capital, commented: “We are gratified by the continued support of our investors, which will allow us to continue to pursue this attractive credit strategy.” John Bolduc, Executive Managing Director of H.I.G. Bayside, added: “The bank deleveraging process in Europe has resulted in tight credit conditions, especially for smaller businesses. Our strong credit team in Europe is very well situated to address this need and to capitalize on the compelling investment opportunities available in the European loan markets today.”

About Bayside Capital
Bayside Capital, an affiliate of H.I.G. Capital, is an investment firm with approximately $4.5 billion under management. Focused on middle-market companies, Bayside Capital invests across several segments of the primary and secondary debt capital markets with an emphasis on long-term returns. With twelve offices throughout the U.S. and Europe and over 250 investment professionals to draw upon, Bayside has the experience, resources, and flexibility to provide capital solutions quickly, and the strategic and operational expertise to help support its investments.

Bayside Capital is active across a wide spectrum of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. With the ability to invest in all parts of the capital structure, Bayside is able to develop creative financing solutions and consummate transactions on an expedited basis.

Bayside Capital is a credit affiliate of H.I.G. Capital, a leading global private investment firm with more than $12 billion of equity capital under management. Since its founding in 1993, H.I.G. Capital has invested in more than 200 companies worldwide and has developed an impressive track record for creating value for its partners and investors. For more information, please refer to the Bayside Capital website at www.bayside.com.

About H.I.G. Capital
H.I.G. is a leading global private equity investment firm with more than $12 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, New York, and San Francisco in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Paris, and Rio de Janeiro, H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding in 1993, H.I.G. invested in and managed more than 200 companies worldwide. The firm’s current portfolio includes more than 80 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

Media contacts

To speak to Appu Mundassery, Managing Director, Bayside London please contact:

MHP Communications

Rory King

Direct Dial: +44 (0)20 3128 8564
Mobile: +44 (0)7584 681 490
Email: [email protected]

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HFO Investment Real Estate has appointed Tyler Johnson as a partner specializing in multi-family investments.
Tyler has been working in commercial real estate as an apartment broker for over a decade.

PRESS RELEASE

HFO Investment Real Estate is pleased to announce the addition of Tyler Johnson as a partner specializing in multi-family investments.
Tyler has been working in commercial real estate as an apartment broker for over a decade. His career began in the San Francisco Office of a national company and his transaction experience included the sale of office buildings, shopping centers, student housing developments, LIHTC and multifamily investments across the country. Tyler has brokered over $125 million in commercial real estate transactions for a wide range of clients including institutions, private equity clients, banks and governmental agencies. Since 2010 Tyler has been working in Portland where he quickly established himself as one of the best apartment brokers in the Portland metro market. Tyler’s prior awards include “Top 5 Portland Broker” and “Top Apartment Broker” for 2011 and 2012 in the Oregon/SW Washington area.
“We are delighted to have Tyler joining as a partner broker,” said HFO co-founding Partner Tim O’Brien. “Tyler is a true team player that brings hard work, integrity, in-depth knowledge and history with apartment investments to HFO’s clients.”
Tyler holds a Bachelor of Science degree in Environmental Studies from the University of Oregon. He is also an active member of the University Club and the Multnomah Athletic Club.
HFO Investment Real Estate is an investment brokerage firm with a focus exclusively on apartment properties in Oregon and Washington. HFO provides a regional and national selling platform with a unique insider’s knowledge of local apartment markets. This complete attention on apartment investments enables HFO’s clients to make better investment decisions. HFO Investment Real Estate: All Apartments – All the Time. Learn more at www.hfore.com.
Image Available: http://www.marketwire.com/library/MwGo/2013/5/13/11G005097/Images/HFO_Apartment_Broker_Tyler_Johnson-705227599285.jpg
Contact Information
Contact:
Aaron Kirk Douglas
(503) 241-5541

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Alternative asset managers such as Blackstone Group and KKR have for decades scoured the stock market for undervalued companies, writes Reuters. Now they are trying to convince investors that shares in their own firms are a bargain.

Reuters – Alternative asset managers such as Blackstone Group LP (BX.N) and KKR & Co LP (KKR.N) have for decades scoured the stock market for undervalued companies. Now they are trying to convince investors that shares in their own firms are a bargain.

As a group, their valuations tend to be weighed down by at least three factors. Because they have gone public relatively recently, their track record as public companies is relatively short. The presentation of their results is complicated and makes comparisons difficult. What is more, their founders and partners have retained significant stakes, which can be negative for their stock when investors fear a significant share sale.

Even so, shares of these firms – a list that also includes Carlyle Group LP (CG.O) and Apollo Global Management LLC (APO.N) – are unlikely to stay cheap for long, analysts say.

If these firms can keep generating strong results, turning profits from asset sales and paying out more in dividends, stock market investors are bound to pile in, they say.

“We believe the valuation gap with the traditional asset managers will converge, if not reverse, over time,” Credit Suisse analyst Howard Chen said. “The alternative asset managers are still a very young sector for public market investors.”

Even after a rally that boosted shares of the group by 40 to 110 percent in the last 12 months, alternative asset managers still trade at a big discount to traditional money managers.

Blackstone, the largest alternative asset manager, went public in 2007. It trades at close to nine times its 12-month projected earnings. That’s a steep discount to a peer group that includes traditional asset managers, which trades at almost 15 times, according to data compiled by Thomson Reuters.

The valuation gap is particularly glaring because Blackstone has a dividend yield of 4.5 percent. By comparison, the peer group on average has a 2 percent dividend yield.

To underscore the point, Blackrock Inc (BLK.N), the largest traditional asset manager, has a dividend yield of 2.2 percent while trading at 16.8 times its forward 12-month earnings.

At Blackstone’s annual investor day in New York earlier this month, Stephen Schwarzman, chief executive and co-founder, said: “One day you are gonna wake up as an investor … You are gonna say ‘nine?’ (of the firm’s price-to-earnings multiple) – “Who came up with nine?”

In Blackstone, he said, “You’ve got the best returns, basically, in the world. You’ve got growth that is hundreds of percent higher than companies that are valued at double the multiple.”

Alternative asset managers focus on asset classes such as private equity, real estate, corporate credit and hedge funds, and some of them lock up client money for 10 years or more.

Traditional asset managers such as Blackrock invest mainly in stocks and bonds, and their clients can generally take their money out much more easily.

With interest rates at record lows, both traditional and alternative asset managers have benefited from the pursuit of higher yield by investors.

Firms such as Blackrock, which was founded with help from Blackstone in 1988 but severed ties in 1995, has seen a surge of fund investors moving into stocks.

By the same token, alternative asset managers have enjoyed a boost from large institutional investors such as pension funds and insurance firms looking to beat the stock market and make more than two times their money on investments.

UNORTHODOX METRICS

KKR, Apollo and Carlyle, which went public in 2009, 2011 and 2012 respectively, also trade at a significant discount to the traditional money managers.

Blackstone and its peers sponsor funds that buy or invest in assets such as companies, single-family homes, distressed loans, and hedge funds. They hold them, work to increase their value and then sell them, often at a big profit.

Because some of the funds have a lifespan of 10 years or more, their assets may have been on their books since the firms went public. Although investors have updated estimates of their values, the eventual sale price may differ.

“The investment community still has not seen a full cycle for these firms, and specifically, active harvesting and distribution payout,” Credit Suisse’s Chen said.

The complexity of the earnings is also an issue, Chen said. To show their earnings potential, alternative asset managers use metrics that are not recognized under standard U.S. accounting principles. Economic net income, for example, figures prominently in their quarterly reports and reflects the estimated market value of their assets.

A second unorthodox metric is fee-related earnings. It shows how much money is generated from fees other than the so-called carried interest, the fund manager’s slice of the investment profits.

To make matters more complicated, there is no uniform calculation of these metrics. Unlike Blackstone and Carlyle, KKR includes discretionary compensation and incentive fees in its fee-related earnings. Apollo uses a different metric called management business ENI, instead of fee-related earnings.

These are just a few of the discrepancies that make it more difficult for investors to make apples-to-apples comparisons. As time goes by, however, investors are becoming increasingly educated about these differences.

Representatives of Blackstone, KKR, Apollo, Carlyle and Blackrock declined to comment for this story.

SUSTAINABLE DIVIDEND YIELD?

A third obstacle to higher valuations for alternative asset managers is the relatively small percentage of their shares that trades in the stock market. Founders and senior partners own large stakes, and that can be a drag on the stock when some of them decide to cash out, even partially.

Apollo shares, for instance, slumped more than 7 percent last week after two of its founders sold a fraction of their shares.

“The market for these names will increase over time. Lowering the insider ownership and having a bigger float and not having as many insiders over the long haul will make them more investable,” Goldman Sachs analyst Marc Irizarry said.

Irizarry also cautioned that once these firms have exited from a lot of the lucrative assets that they hold, the sustainability of their dividend yield may come into question, at least until they have more profitable investments to harvest. This means that the value of their shares will not always be on the rise.

Said Irizarry, “If all the low-hanging fruit has been picked, then the value of the stocks might not be what it is today.”

(Reporting by Greg Roumeliotis in New York; Editing by Soyoung Kim, Frank McGurty and Prudence Crowther)

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Kite Pharma, a clinical stage biotechnology company focused on developing innovative targeted immunotherapies for cancer, has closed a $20 million private placement of shares of its Series A Preferred Stock. Joined by a new investor, Alta Partners, all existing major investors participated in the financing.

PRESS RELEASE

Kite Pharma Inc. (Kite), a clinical stage biotechnology company focused on developing innovative targeted immunotherapies for cancer, today announced that it has closed a $20 million private placement of shares of its Series A Preferred Stock. In addition to the $20 million in new funds, Kite converted $15 million in outstanding promissory notes into shares of Series A Preferred Stock. Joined by a new investor, Alta Partners, all existing major investors participated in the financing, including Kite’s Founder and Executive Chairman, Arie Belldegrun , M.D., David Bonderman , Pontifax Ltd., Commercial Street Capital, and Michael Milken.

(Logo: http://photos.prnewswire.com/prnh/20130513/MM13332LOGO)

Kite is engaged in the development of novel cancer immunotherapeutic products with a focus on engineered autologous T cell therapy (eACT), designed to restore a patient’s immune system by recognizing and eradicating tumors. In partnership with the National Cancer Institute (NCI) Surgery Branch under a Cooperative Research and Development Agreement (CRADA), Kite is advancing a pipeline of proprietary eACT product candidates directed at a wide range of cancer indications. These novel personalized and targeted immunotherapies, which capitalize on the selectivity and potency of immune cells, are aimed at providing significant and durable clinical benefit regardless of tumor origin, disease stage, and prior treatments.

“We are extremely pleased with the significant level of interest in Kite and its programs by our existing investors and by Alta Partners, a premier life sciences investment firm,” said Aya Jakobovits , Ph.D., President and Chief Executive Officer of Kite Pharma. “The new resources will allow us to advance clinical and manufacturing activities of eACT products directed to hematological and solid tumor indications.”

In connection with the financing, Farah Champsi , Managing Director of Alta Partners, and Ran Nussbaum, Managing Partner of Pontifax, have joined Kite’s Board of Directors. “We are pleased to welcome Farah and Ran, who will be adding their expertise to a very active and engaged Board,” said Arie Belldegrun. “Their experience within the life sciences industry will be valuable to us as Kite enters its next stage of development and growth.”

“Kite’s eACT technology has the potential to provide cancer patients with a treatment that offers a significant and durable impact on their disease,” said Farah Champsi . “The product pipeline directed to different tumor types, combined with the company’s experienced management team, positions Kite to become a leader in this breakthrough therapeutic modality. I am excited to work again with Drs. Belldegrun and Jakobovits to realize the potential of this product platform.”

About the eACT Platform
Clinical evidence has demonstrated that a patients’ peripheral blood T cells, which have been engineered with T cell receptor (TCRs) and Chimeric Antigen Receptors (CARs) that recognize tumor specific molecules, can traffic directly to the tumor, become activated upon engagement with the tumor antigen, and selectively eradicate tumors. Clinical studies performed at the National Cancer Institute using these types of engineered peripheral blood T cells have been associated with significant and durable objective clinical responses in cancer patients with advanced metastatic disease, including those with refractory melanoma, sarcoma, lymphoma and leukemia. These encouraging results highlight eACT as an emerging therapeutic modality that could provide new personalized targeted therapy options for cancer patients spanning the spectrum of disease from its early stages to the salvage setting.

About Kite Pharma
Kite Pharma, Inc. is a privately held development stage biotechnology company engaged in the development of novel cancer immunotherapeutic products, with focus on engineered autologous T cell therapeutics targeted to different tumor types. In addition, the company is advancing a novel therapeutic cancer vaccine aimed to trigger potent and specific immunity against multiple epithelial cancers, which has the potential to complement its eACT programs.

Kite is based in Los Angeles, CA.

Contact:
Aya Jakobovits , Ph.D.
President and Chief Executive Officer
Kite Pharma, Inc.
(310) 824-9999 x 201
[email protected]

For Media:
Joan Kureczka
Kureczka-Martin Associates
Ph: (415) 821-2413
M: (415) 690-0210
[email protected]

SOURCE Kite Pharma, Inc.
Copyright©2012 PR Newswire.
All rights reserved

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DDR Corp is to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII. The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR has executed a purchase and sale agreement to acquire Blackstone’s 95% common equity ownership interest in 30 of these shopping centers for $1.46 billion.

PRESS RELEASE

DDR Corp. (NYSE: DDR) today announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII (Blackstone). The acquisition, which is expected to close in the fourth quarter of 2013 subject to customary closing conditions, will significantly increase DDR’s cash flow generated by very high quality, large format prime power centers located in top MSA’s in the United States.

DDR intends to fund this acquisition through a combination of the assumption of $398 million in existing debt, nearly $150 million from the repayment of preferred equity and mezzanine loans previously funded by DDR and proceeds from the issuance of common equity and unsecured debt. As part of the consideration, DDR has the right, subject to certain conditions, to issue common shares to Blackstone in an amount not to exceed $250 million.
The portfolio being purchased is comprised primarily of market dominant prime power centers located in the top 40 MSA’s of the United States, and includes all ten properties that DDR has a current right of first offer to acquire, such as fortress shopping centers Shoppers World in Boston, Woodfield Village Green in Chicago, Fairfax Towne Center in Washington DC, and Riverdale Village in Minneapolis. The 14 properties not being acquired will remain in the venture owned 95% by Blackstone and 5% by DDR, and DDR will continue to manage and lease those properties pursuant to its existing agreements with Blackstone.
The properties to be acquired include power centers DDR has acquired, developed, leased and managed through various ventures since 1995. The portfolio features very strong trade area demographics with an average household income of $91,000 and population of 543,000 people, 14% and 21%, respectively, above the current DDR prime portfolio. The acquisition greatly improves DDR’s pro rata MSA exposure with approximately 50% of the portfolio value generated by power centers located in top 20 MSA’s in the United States, and approximately 80% of the value coming from the top 40 MSA’s. Average base rent is $13.81 per square foot, 5% below the DDR prime portfolio, which creates organic growth opportunities when rents can be marked to market. The portfolio is comprised of 11.8 million total square feet, is 95% leased, and consists of large format centers with an average size of approximately 400,000 square feet, 20% larger than the average DDR prime power center. In addition to growth opportunities from marking rents to market, DDR intends to leverage its operating platform to create incremental value in the coming years through redevelopment and remerchandising projects, tenant downsizings and center expansions.
Consistent with DDR’s long-term strategic objectives, the acquisition will be prudently capitalized with permanent equity and long-term debt. The $398 million of assumed debt is comprised of mortgage debt with a weighted average interest rate of 5.9% and a weighted average maturity of three years, including a $260 million loan maturing in 2015 with an interest rate of 6.4% secured by four high quality shopping centers with a current LTV of approximately 50%. The acquisition also provides opportunities to unencumber 21 of the 30 assets and to significantly improve the quality and scale of the Company’s portfolio of wholly-owned, unencumbered power centers. As a result of this transaction and strong year-to-date operating metrics, the Company is revising 2013 guidance for Operating FFO at this time to a range between $1.08 and $1.11 per diluted share.
“We are very pleased to add these outstanding assets to our wholly-owned portfolio,” stated Daniel B. Hurwitz , chief executive officer of DDR. “It was our goal to accomplish this upon the initial formation of the venture with Blackstone, and we thank them for being outstanding partners. We look forward to our continued relationship.”
“This acquisition will significantly advance many of our strategic objectives, and is yet another example of our ability to mitigate risk on attractive investment activity through prudent underwriting and funding,” commented David J. Oakes , president and chief financial officer of DDR. “The acquisition will be funded responsibly, and will position us well for strong relative growth in cash flow generated by high quality shopping centers over the long term.”
The shopping centers being acquired include:

Total

GLA
Center
MSA
ST
(000s)

Riverdale Village
Minneapolis
MN
941
Shoppers World
Boston
MA
778
Woodfield Village Green
Chicago
IL
674
Great Northern Plaza
Cleveland-Akron
OH
669
FlatAcres / Parker Pavilions
Denver
CO
631
MacArthur Marketplace
Dallas-Fort Worth
TX
599
Belden Park Crossings
Cleveland-Akron
OH
594
Connecticut Commons
Hartford
CT
566
Midway Marketplace
Minneapolis
MN
487
Pioneer Hills
Denver
CO
479
Merriam Town Center
Kansas City
KS
474
Marketplace of Brown Deer
Milwaukee
WI
405
Marketplace At Towne Center
Dallas-Fort Worth
TX
404
Overland Pointe Marketplace
Kansas City
KS
382
Grandville Marketplace
Grand Rapids
MI
351
Township Marketplace
Pittsburgh
PA
299
Harbison Court
Columbia
SC
298
Carillon Place
Naples
FL
283
Shoppers World Brookfield
Milwaukee
WI
265
Lake Walden Square
Tampa
FL
257
Turner Hill Marketplace
Atlanta
GA
255
Fairfax Towne Center
Washington DC
VA
253
Lake Brandon Village
Tampa
FL
244
Riverchase Promenade
Birmingham
AL
228
Piedmont Plaza
Orlando
FL
208
Jo-Ann Plaza
Buffalo
NY
203
Cool Springs Pointe
Nashville
TN
201
McKinney Marketplace
Dallas-Fort Worth
TX
184
Frisco Marketplace
Dallas-Fort Worth
TX
108
Shops At Turner Hill
Atlanta
GA
32

11,752

About DDR Corp.
DDR is an owner and manager of 445 value-oriented shopping centers representing 116 million square feet in 39 states, Puerto Rico and Brazil. The Company’s assets are concentrated in high barrier-to-entry markets with stable populations and high growth potential and its portfolio is actively managed to create long-term shareholder value. DDR is a self-administered and self-managed REIT operating as a fully integrated real estate company, and is publicly traded on the New York Stock Exchange under the ticker symbol DDR. Additional information about the Company is available at www.ddr.com.
Safe Harbor
DDR considers portions of the information in this press release to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, with respect to the Company’s expectation for future periods. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. For this purpose, any statements contained herein that are not historical fact may be deemed to be forward-looking statements. There are a number of important factors that could cause our results to differ materially from those indicated by such forward-looking statements, including, among other factors, our ability to successfully complete the proposed acquisition of properties from the Blackstone joint venture, local conditions such as oversupply of space or a reduction in demand for real estate in the area; competition from other available space; dependence on rental income from real property; the loss of, significant downsizing of or bankruptcy of a major tenant; constructing properties or expansions that produce a desired yield on investment; our ability to buy or sell assets on commercially reasonable terms; our ability to complete acquisitions or dispositions of assets under contract; our ability to secure equity or debt financing on commercially acceptable terms or at all, including in connection with the proposed acquisition of properties from the Blackstone joint venture; our ability to enter into definitive agreements with regard to our financing and joint venture arrangements or our failure to satisfy conditions to the completion of these arrangements; and the success of our capital recycling strategy. For additional factors that could cause the results of the Company to differ materially from those indicated in the forward-looking statements, please refer to the Company’s Form 10-K for the year ended December 31, 2012, as amended. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
SOURCE DDR Corp.

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Creating original content is the big trend with major tech companies like Netflix and Hulu. But recently, others such as Amazon and Microsoft have thrown their hats into the original content creation ring. Nancy Tellem, a former CBS executive, will oversee the creation of original entertainment content for Xbox Live. Tellem will be in charge of a new studio in Los Angeles. Microsoft is already rumored to be reviving the canceled Heroes series. This is not a bad idea as we already know that Netflix has revived the popular Arrested Development TV show that was canceled by Fox.

This week a few shows that were popular in the LGBT community were canceled: Smash (NBC), New Normal (NBC) and Happy Endings (ABC). The last one, Happy Endings, is rumored to be picked up by the USA network. This would be a perfect show for Microsoft because while Heroes is one of those shows that certainly fits the traditional Xbox demographic, Happy Endings is one of those shows that can appeal to the existing demographic as well as a new one.

The show has been described by some as a modern take on the popular program Friends. The show is about the daily antics of a diverse group of friends. While not exclusively about gays, it does include a gay character that plays one of the main roles.

Happy Endings will allow Microsoft to appeal to a more diverse demographic, something they need as the Xbox enters a new era of competition among TV connected devices and services. Xbox will face some serious competition in the living room this year, and Microsoft should be as aggressive as possible in creating original content. Picking up canceled TV shows that had a popular cult following (as Happy Endings) is a great start.

Solar company SunPower plans to roll out its first energy storage product, possibly lithium-ion batteries, in a bid to expand its share of the rooftop solar market, company executives said on Wednesday during the company’s analyst day. CEO Tom Werner told analysts that selling energy increasingly will require more comprehensive solutions, including energy storage technologies, and explained “this is a fundamental change in how solar companies compete.”

Adding energy storage reflects the evolution of the company, which started off as a solar cell and panel maker before it entered the power plant development business. SunPower has carried out pilot energy storage projects in recent years and worked with different energy storage technologies, including advanced lead acid and zinc bromide batteries.

But lithium-ion batteries “will likely be the first technology to have an impact,” said Jack Peurach, executive vice president of products. The emergence of electric cars plays a role in making lithium-ion battery the front runner for being paired with solar, he added.

SunPower executives didn’t provide details, such as the timing and battery suppliers, for its energy storage plans. But the discussion puts SunPower on a growing roster of solar energy companies that are offering or plan to offer energy storage.

SolarCity, for example,  has been bundling lithium-ion batteries from Tesla Motors with its solar energy systems and applying for a California program that subsidizes energy storage installations. One Roof Energy is working with battery maker Silent Power to roll out products. Korean conglomerate Hanwha Group, which runs a solar panel manufacturing subsidiary, is an investor in both OneRoof and Silent Power. SunEdison has done a pilot project with a battery system from startup Seeo.

Energy storage will be part of SunPower’s plan to expand its reach in the commercial and residential market, where it sells power purchase agreements or leases via its dealers or its own project development business. The company designs the power purchase agreements for its commercial and government customers and leases for homeowners. Power purchase agreements and leases work in similar ways: business or home owners sign a long-term contract of up to 20 years and pay a monthly fee for the solar electricity from the SunPower solar energy systems on their rooftops.

SunPower’s foray into the energy storage business will prompt more comparison with SolarCity, which started in 2006 as purely a solar installer. SolarCity is most active in the residential and commercial markets, but it scored the first utility project last year. As a result, the two companies have been competing more intensely in recent years.

In fact, a lawsuit filed by SunPower against SolarCity and five people last year highlighted that rivalry. The lawsuit accused five former SunPower employees of stealing confidential data and brought the data with them when they went to work for SolarCity. The two companies settled on Dec. 31, 2012, and a judge dismissed the lawsuit in January, SolarCity said in its 2012 annual report. It didn’t disclose the amount of the settlement.

SunPower executives didn’t say whether they will sell energy storage in the United States first or in other regions. Werner said that, for now, energy storage makes financial sense only in markets that offers government incentives. That would include California, Germany and Japan.

Related research and analysis from GigaOM Pro:
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• After Solyndra: analyzing the solar industry
• A 2011 Green IT Forecast
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With hectic schedules, it can be hard to keep track of everything in your news feed. That’s why we created the TalkAndroid Daily Dose. This is where we recap the day’s hottest stories so you can get yourself up to speed in quick fashion. Happy reading!!

Google I/O

Re-experience all three exciting hours of the Google I/O 2013 keynote right here

Google I/O 2013 Keynote: Android activations account for nearly 1/7th of the world’s population with 900 million total activations

Google I/O 2013 Keynote: Play Store will bring more personalized recommendation, apps that will be “Designed for Tablets” and new All Access music subscription service

Google announces unlocked Samsung Galaxy S 4 with stock Android coming June 26 for $649

Google Play Developer Console gets a major injection of new features

Google announces Google Play for Education at Google I/O 2013

New Google Maps makes the Map the UI just a little better and easier for all

Google Search gets expanded functionality for users, brings new cards and improved Voice Search abilities

Google Hangouts officially announced at Google I/O, now live in the Google Play Store

Google Hangouts requires permissions to receive, read, and send SMS messages, could support be added soon?

Gmail and Google Wallet can now help you get money to people in your life

Google TV gets bumped to Android 4.2.2 and the latest version of Chrome

Hands on with the Map Diving simulator

Hands on with NVIDIA Shield

Quick look at the Google Street View Trekker

Hands on with WeVideo’s video editing solution for Chromebooks

Apps

HTC Backup now available for AT&T users as free download from Google Play

Karateka Classic: Director’s Cut launches tomorrow for Android and iOS for a buck

YouTube for Google TV updated, features new homescreen UI

Google

Google Sync Services quietly adds a couple new settings

Android games begin to integrate with Google Play Games service, more to come

Google Glass

New concept video surfaces, showcases how awesome, yet practical the head can truly be

Phones

Samsung Galaxy S 4 breaks the S 3 record by selling 4 million units in 5 days

Samsung officially outs Blue Arctic Galaxy S 4 in Japan

Samsung Galaxy S 4 Mini leaks once again, release set for end of May

Samsung Galaxy S III comes to StraightTalk using Sprint’s LTE network

Japan’s NTT DoCoMo releases summer 2013 device portfolio including Sony Xperia A

ZTE reveals Grand X2 In with Intel CloverTrail+ processor capable of taking 24 photos per second

Tablets

HP Announces Slatebook 10 x2, a convertible tablet with Tegra 4

Updates

Sony Xperia Z smartphone receives minor software update

Samsung start rolling out Jellybean 4.1.2 update to Galaxy Ace 2 users

Miscellaneous

Former Nokia consultant launches Adaia, aiming to make the first fully seaworthy Android phone

Yup, Android 4.3 is confirmed thanks to a search result listing on a developer website

 

Come comment on this article: TalkAndroid Daily Dose for May 15, 2013

Angelina Jolie’s announcement of undergoing a double mastectomy (surgically removing both breasts) even though she had no breast cancer is not the innocent, spontaneous, “heroic choice” that has been portrayed in the mainstream media. Natural News has learned it all…

After years of political gridlock in D.C., lawmakers of competing parties are finally coming to agreement on one thing: The Obama administration is rife with corruption, as a spate of scandals which have rocked the White House since the president’s second inauguration…

To be sure, there are many Americans who, through no fault of their own, have become disabled through physical or mental illness over which they had no control. That’s what Social Security’s disability benefit was established to address – to help Americans with legitimate…

One of the issues I have with Chromebooks is that they are limited. For example, I could never use one full time because there really isn’t a way to edit video. Well things are going to change this summer when WeVideo launches their new app as part of Chrome packaged apps. Now WeVideo already offers an online editor, as well as an editor for Android devices, which I reviewed a couple of days ago.

This new Chrome app goes one step further, allowing you to edit video using local files. Basically, you don’t have to upload your files to their server, which means you don’t have to be connected to the internet when editing. You will have your choice of rendering locally, which could take some time with a Chromebook, but you can upload your finished product and have WeVideo render it and share it directly to sites such as YouTube. Since their server can render much faster than even the best desktops and laptops, this could be a really good solution. I am looking forward to trying this out as soon as it becomes available. Hit the break to see it in action.

Click here to view the embedded video.

 

Come comment on this article: Hands on with WeVideo’s video editing solution for Chromebooks

Did you ever wonder how Google gets all that great street view detail in National Parks? Well they do it with the Street View Trekker. It’s a backpack that weighs 40 pounds, has 15 five-megapixel cameras, a hard drive, and two batteries. It’s pretty hefty so I can’t imagine going very far with one of these. Google brought one of them to I/O to give everyone a chance to see what it’s like to wear one with a simulator. Hit the break to see it in action.

Click here to view the embedded video.

Come comment on this article: Quick look at the Google Street View Trekker at Google I/O

The last time I was able to see Shield, it was at CES, but it was behind plexiglass. This time around, at Google I/O, we got a closer look. This is going to really satisfy the hunger for gamers with the ability to play Android games and PC games streamed from your desktop. Android fanatics will love that it comes with stock Android Jelly Bean, but it also packs a Tegra 4 CPU, a NVIDIA GeForce GTX GPU, 2GB of RAM, and a 5-inch 720p display. It’s priced at $349 and you can pre-order starting May 20th. Hit the break to see it action.

Click here to view the embedded video.

Come comment on this article: Hands on with NVIDIA Shield at Google I/O

With the release of Google Play Games today comes a list of games already being integrated with the service. Hit the break for a list of games already offering all that Google Play Games has to offer— of course more will be added as time goes on, but this is what we know of so far.

Beach Buggy Blitz (Free) (48 achievements)

Chip Chain (Free) (43 achievements)

Eternity Warriors 2 (Free) (29 achievements)

Eufloria (Free/$4.99) (? achievements)

Farm Invasion USA (Free/$5.20) (20 achievements)

Kingdom Rush ($1.99) (? achievements)

Modern Combat 4: Zero Hour ($6.99) (49 achievements)

Osmos ($2.99) (? achievements)

Plague Inc. (Free) (54 achievements)

Riptide GP ($1.99) (? achievements)

Super Stickman Golf 2 (Free) (60 achievements)

Triple Town (Free) (26 achievements)

World of Goo ($4.99 $0.99) (22 achievements)

If you know of any other games already integrated with Google Play Games, hit us up in the comments to let us know.

Come comment on this article: Android games begin to integrate with Google Play Games service, more to come

Without an official announcement today at the Google I/O keynote, Google has quietly rolled out a nice looking update to their YouTube app for Google TV. A new UI is featured, which makes navigation a bit easier and more user friendly.

Improved Playback video controls are also included, and subscription options are much easier to use as well. Check out the link to the app in the Google Play Store after the break.

Play Store Download Link

Come comment on this article: YouTube for Google TV updated, features new homescreen UI

The Raspberry Pi foundation on Tuesday announced the availability of a $25 camera module for its popular Raspberry Pi computers. The module can be purchased from distributors RS Components or Premier Farnell/Element14, and is compatible with both the Model A and Model B versions of the Raspberry Pi. The 5-megapixel camera is capable of taking pictures at a 2592 x 1944 resolution and can record full 1080p HD video at 30 frames per second. The module’s ribbon cable must be plugged into the CSi port that is located between the Ethernet and HDMI ports on the unit. The Raspberry Pi must also be on the latest firmware to recognize the camera, which can then be enabled in the configuration settings. A video demonstration follows below.

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Pirate Bay cofounder Peter Sunde is apparently tired of being accused of breaking the law, so now he wants to start making the law instead. TorrentFreak reports that Sunde is planning to run for the European Parliament next year as a candidate for Finland’s Pirate Party. Sunde is hoping to follow in the footsteps of the Swedish Pirate Party that now has two members as elected European members of Parliament.

Continue reading…