Cedar Realty Trust

Cedar Realty Trust, Inc.
Public company
Traded as NYSE: CDR
S&P 600 component
Founded 1984 (1984)
Headquarters Port Washington, New York
Key people
 Bruce J. Schanzer, President
Philip R. Mays, CFO
Revenue Decrease $0.146 billion (2017)
Increase $0.019 billion (2017)
Total assets Increase $1.252 billion (2017)
Total equity Increase $0.630 billion (2017)
Number of employees
 76 (2017)
Website www.cedarrealtytrust.com
Footnotes / references
[1]

Cedar Realty Trust, Inc. is a publicly traded real estate investment trust that invests in shopping centers in the Mid-Atlantic states.

Investments

As of December 31, 2017, the company owned 61 properties containing 9.0 million square feet, including 26 properties in Pennsylvania.[1]

The company's largest tenants are as follows:[1]

Rank Tenant % of Total Revenue
1 Giant Food 9.6%
2 Shop Rite 3.7%
3 LA Fitness 3.0%
4 Stop & Shop 2.5%
5 Dollar Tree 2.2%
6 Farm Fresh Food & Pharmacy 2.0%
7 Home Depot 1.9%
8 Big Y 1.7%
9 Staples Inc. 1.6%
10 BJ's Wholesale Club 1.5%

History

The company was founded in 1984 as Cedar Shopping Centers.

In 2005, the company acquired a 27-property portfolio for $90 million[2] and Columbia Mall for $14 million.[3] It also acquired The Shops at Suffolk Downs.[4]

In 2006, the company acquired Shaw's Plaza.[5]

In 2009, RioCan Real Estate Investment Trust acquired a 15% stake in the company as part of a joint venture agreement.[6][7]

In 2010, the company acquired a 20% interest in Exeter Commons.[8] It also acquired 7 shopping centers from Pennsylvania Real Estate Investment Trust for $168 million.[9] It also sold Gabriel Brothers Plaza for $4.5 million.[10]

In 2011, the company changed its name to Cedar Realty Trust. It also sold 5 sites in Ohio anchored by Discount Drug Mart.[11]

In 2014, the company acquired Quartermaster Plaza in South Philadelphia for $92.3 million.[12] It also sold Harbor Square for $25 million.[13]

In 2015, the company acquired Lawndale Plaza in Philadelphia, Pennsylvania for $24.5 million.[14]

In 2016, the company acquired East River Park Shopping Center for $39 million[15] and The Shoppes at Arts District for $20.5 million.[16]

In 2017, the company acquired Christina Crossing for $29.3 million.[17]

References

  1. 1 2 3 "Cedar Realty Trust 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Cedar Shopping Centers buying Pa., Ohio properties". American City Business Journals. Feb 7, 2005.
  3. ↑ Milongo, Corinne (November 4, 2005). "Cedar Shopping Centers Buys Columbia Mall for $14M". CoStar Group.
  4. ↑ "Cedar Shopping Centers to acquire 'The Shops at Suffolk Downs'". American City Business Journals. July 14, 2005.
  5. ↑ "Cedar Shopping Centers buys Shaw's Plaza". American City Business Journals. July 24, 2006.
  6. ↑ VALORZI, JOHN (October 26, 2009). "RioCan makes $181-million U.S. foray". The Globe and Mail.
  7. ↑ Pardy, Sasha M. (February 10, 2010). "RioCan to Invest $500M in U.S. Retail With Cedar Shopping Centers". CoStar Group.
  8. ↑ Kostelni, Natalie (May 12, 2010). "Cedar Shopping Centers, RioCan buying Pa. shopping center". American City Business Journals.
  9. ↑ Kostelni, Natalie (August 16, 2010). "Cedar Shopping buying 7 PREIT centers". American City Business Journals.
  10. ↑ Banegura, Hilda (January 27, 2010). "Cedar Shopping Centers Sells 83,000-SF Complex". CoStar Group.
  11. ↑ Ball, Brian R. (May 3, 2011). "Cedar Shopping Centers selling 5 area sites anchored by Discount Drug Marts". American City Business Journals.
  12. ↑ Van Allen, Peter (March 26, 2014). "South Philly shopping center sells for $92.3 million". American City Business Journals.
  13. ↑ Kostelni, Natalie (February 28, 2014). "Egg Harbor Twp. center sells for $25M". American City Business Journals.
  14. ↑ "Cedar Realty Trust Acquires Lawndale Plaza In Philadelphia, PA" (Press release). PRNewswire. March 2, 2015.
  15. ↑ Jennings, Javier B. (January 6, 2016). "Cedar Realty Trust Expands D.C. Retail Portfolio". CoStar Group.
  16. ↑ Jennings, Javier B. (March 1, 2016). "Cedar Realty Trust Purchases Fully Leased Shopping Center in Hyattsville". CoStar Group.
  17. ↑ Nabar, Rohan (March 21, 2017). "Cedar Realty Trust Pays $29.3M for Christina Crossing". CoStar Group.
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