Cedar Realty Trust has announced that its Board of Directors has initiated a dual-track process to review the company's strategic alternatives to maximize shareholder value. Its portfolio is primarily located in high-density urban markets from Washington, D.C. to Boston.
As part of this process, Cedar is exploring, among other alternatives, a potential sale or merger involving the entire company, and alternatively the potential sale of its core grocery-anchored shopping center portfolio and its mixed-use redevelopment projects. Namely, Bloomberg News reported that Cedar is also willing to complete a full sale of its grocery-anchored shopping centers and mixed-use redevelopment projects. The grocery-anchored portfolio could be fetched for $965 million, based on terms reviewed by Bloomberg.
The REIT had no comment about such dealings.
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