Cedar Realty Trust Announces Completion of Sale of Grocery-Anchored Portfolio and Redevelopment Property to DRA Advisors and KPR Centers

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Jul 08, 2022

Cedar Realty Trust (NYSE: CDR) (the “Company”) today announced that it has completed the previously announced sale of a portfolio of 33 grocery-anchored shopping centers and a redevelopment property to a joint venture between a fund managed by DRA Advisors LLC and KPR Centers for total gross proceeds of approximately $879 million, including assumed debt. The Company previously sold its Riverview Plaza redevelopment property for gross proceeds of approximately $34 million.