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Filed Pursuant to Rule 424(b)(7)
Registration No. 333-37067
PRICING SUPPLEMENT NO. 7, dated July 10, 1998
This Pricing Supplement is used in reliance on Rule 434 under the Securities Act
of 1933, as amended (the "Act"), and supplements the Prospectus dated October
24, 1997 and the Prospectus Supplement dated October 24, 1997. For purposes of
Section 10(a) of the Act, the final prospectus relating to the securities
offered hereby consists of this Pricing Supplement, the Prospectus and the
Prospectus Supplement and the documents incorporated therein by reference.
$100,000,000
Developers Diversified Realty Corporation
7.50% Senior Notes Due July 15, 2018
of the Medium-Term Notes
Due 9 Months or More From Date of Issue
Principal Amount: $100,000,000
Issue Price: 100%
Original Issue Date: July 15, 1998
Maturity Date: July 15, 2018
Interest Rate: 7.50%
Interest Payment Dates: May 15 and November 15
Form: Book Entry
Agents' Commission: .750%
Agents' Capacity: Principal
Net Proceeds to Company: $99,250,000
Agents' Underwriting
Commitments: Lehman Brothers Inc. $ 25,000,000
Morgan Stanley & Co. Incorporated $ 25,000,000
Goldman, Sachs & Co. $ 25,000,000
BancAmerica Robertson Stephens $ 25,000,000
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Total $100,000,000
CUSIP: 25159N AW5
In accordance with the terms of the Distribution Agreement dated October 24,
1997, among the Company and the Agents and the other agents named therein, the
aggregate initial offering price of Medium-Term Notes authorized for issuance
and sale thereunder and under the Prospectus and Prospectus Supplement, has been
increased by $2 million in order to accommodate the sale of the Notes. The
Agents have agreed to reimburse the Company for expenses incurred in connection
with the offering of the Notes in an amount not to exceed $106,000.
This Pricing Supplement supplements the Prospectus and Prospectus Supplement
with respect to both (1) the initial offering of Medium-Term Notes and (2)
market-making transactions in Medium-Term Notes by the Agents.
