Friday, September 17, 2010

Cedar Shopping Centers buys 5 properties

Cedar Shopping Centers Inc. and RioCan Real Estate Investment Trust will buy five properties in three states for roughly $92 million.

The deal, made under an existing joint venture between Cedar and RioCan, will be funded with a mix of loans and cash.

Four of the properties are anchored by Giant Food Stores supermarkets. Three of the properties are located in Pennsylvania, one is in Maryland and another is in Virginia.

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