BRYN MAWR, PA-Locally based WP Realty has completed its sale of a six-property shopping center portfolio to Cedar Shopping Centers Inc. Port Washington, NY-based Cedar paid $117 million for the centers, which are located in four states and have an aggregate of approximately 870,000 sf.

The price includes the assumption of approximately $86 million of existing first-mortgage financing on the properties with a weighted average interest rate of less than 6%. The remainder of the purchase price is funded from Cedar's secured revolving credit facility.

Two of the properties are in Massachusetts. The 138,000-sf West Bridgewater Plaza in West Bridgewater is anchored by a Shaw's supermarket and Big Lots. The 168,000-sf Kings Plaza in New Bedford is adjacent to Fieldstone Marketplace, which Cedar acquired earlier from WP. The Kings Plaza anchors are AJ Wright, Ocean State Job Lot and Work Out World.