Cedar Realty Trust this week announced it has entered into definitive agreements for the sale of the company and its assets in a series of related all-cash transactions to Wheeler Real Estate Investment Trust.
The deal includes an agreement to sell a portfolio of 33 grocery-anchored shopping centers to a joint venture between a fund managed by DRA Advisors LLC and KPR Centers for $840 million.
Also as part of the agreement, Cedar Realty will sell the Revelry redevelopment project for $34 million. The REIT is negotiating the sale of the Northeast Heights redevelopment project for $46.5 million.
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