Cedar Realty Trust to repay revolver debt via new preferred offering

By Tali Rackner

Minneapolis, Aug. 16 – Cedar Realty Trust, Inc. plans to temporarily repay amounts outstanding under its unsecured revolving credit facility using the proceeds from a new preferred stock offering, according to a press release.

Proceeds will also be used to partially redeem the company's 7.25% series B cumulative redeemable preferred stock.

Cedar Realty Trust is a Port Washington, N.Y.-based real estate investment trust that focuses primarily on the ownership and operation of supermarket-anchored shopping centers straddling the Washington, D.C., to Boston corridor.

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