Cedar Realty draws $75 million on revolver for financial flexibility

By Marisa Wong

Los Angeles, March 30 – Cedar Realty Trust, Inc. said it has drawn $75 million on its revolving credit facility to preserve financial flexibility and out of an abundance of caution.

After giving effect to this borrowing, the company has about $20 million of remaining borrowing capacity under the revolver, according to a press release.

The company said that its bank group continues to be highly supportive and that it has no debt maturities until February 2021.

Cedar is a Port Washington, N.Y.-based real estate investment trust that owns grocery-anchored shopping centers in high-density urban markets from Washington, D.C., to Boston.

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