Cedar Realty Trust


Cedar Realty Trust


Cedar Realty Trust, Inc. is a real estate investment trust that invests in shopping centers. It is a subsidiary of Wheeler Real Estate Investment Trust. As of December 31, 2022, the company owned 19 properties with 2.9 million square feet of leasable space primarily in the Northeastern United States, including 7 properties in Pennsylvania. The company's major tenants are TJX Companies (4.8% of revenues), Kohl's (4.2% of revenues), Shaw's (3.8% of revenues), Dollar Tree (3.5% of revenues), and Walmart (3.5% of revenues). The only notable property owned by the company is The Shoppes at Trexler.

History

The company was founded in 1984 as Cedar Shopping Centers. In October 2003, the company became a public company via an initial public offering.

In 2005, the company acquired a 27-property portfolio for $90 million.

In 2009, RioCan Real Estate Investment Trust acquired a 15% stake in the company as part of a joint venture agreement.

In 2010, the company acquired 7 shopping centers from Pennsylvania Real Estate Investment Trust for $168 million.

In 2011, the company changed its name to Cedar Realty Trust. It also sold 5 sites in Ohio anchored by Discount Drug Mart.

In 2011, Bruce Schanzer became chief executive officer.

In July 2022, the company sold a portfolio of 33 shopping centers to a joint venture between a fund managed by DRA Advisors LLC and KPR Centers for $879 million.

In August 2022, Wheeler Real Estate Investment Trust acquired the company. M. Andrew Franklin became president and chief executive officer of the company and Crystal Plum became chief financial officer.

References


Text submitted to CC-BY-SA license. Source: Cedar Realty Trust by Wikipedia (Historical)



INVESTIGATION
 
Collection James Bond 007



Owlapps.net - since 2012 - Les chouettes applications du hibou