Cedar Realty to redeem all 8.875% series A preferreds via B offering

By Tali David

Minneapolis, Feb. 7 - Cedar Realty Trust, Inc. will redeem all the remaining 1,407,969 outstanding shares of its 8.875% series A cumulative redeemable preferred stock, according to a press release.

The preferreds will be redeemed at $25 per share plus accrued dividends up to the redemption date.

The redemption will be funded using proceeds from its recently announced underwritten public offering of 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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