Cedar Realty Trust Exploring Sale, Strategic Alternatives
Photographer: David Paul Morris/Bloomberg
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Cedar Realty Trust Inc., a retail-focused real estate investment trust, is exploring strategic alternatives including a full sale, according to a person with knowledge of the matter.
The Massapequa, New York-based company is also considering selling its portfolio of grocery-anchored shopping centers and its mixed-use redevelopment projects, as it looks for ways to maximize shareholder value, the person said. The grocery-anchored portfolio may be able to obtain financing at a purchase price of $965 million, according to terms reviewed by Bloomberg News.