JDN Realty Corporation, an Atlanta-based REIT specializing in the development and management of retail shopping centers, announced that its interim funding agreement with its revolving bank group and a similar agreement with its term bank group expired on April 14, and the banks can consider all debt due and payable as a result. While JDN said it will continue to seek an extension of the funding agreements, the failure to consummate a deal could affect the company's performance in an "adverse manner," JDN said. JDN said it is in the process of engaging a financial advisor to seek "alternative means for financing its business."
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