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Developers Diversified


and Coventry Real Estate Advisors formed a joint venture with Harbor Cos. to develop Bloomfield Park in suburban Detroit.

The Cleveland-based company said that the first phase of the devlopment, which has a proforma cost of about $250 million, will comprisea 560,000 square foot retail lifestyle center, plus residential and office uses. The remaining phases is expected to consist additional retail, residential and office uses.

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The property, on an 88-acre site in Bloomfield Hills, Mich., will be developed through a joint venture of Developers Diversified and Coventry Real Estate Fund II.

The fund and Developers Diversified have agreed to jointly acquire and develop value-added retail properties in the U.S.

This story was created through a joint venture between and IRIS.