Cedar Realty enters $130 million one-year term loan via KeyBank

By Marisa Wong

Los Angeles, Aug. 25 – Cedar Realty Trust, Inc. operating partnership Cedar Realty Trust Partnership, LP entered into a $130 million loan agreement on Aug. 22 with KeyBanc Capital Markets as lead arranger and bookrunner and KeyBank NA as administrative agent and lender, according to an 8-K filing with the Securities and Exchange Commission.

The loan matures on Aug. 22, 2023.

Loans bear interest at adjusted term SOFR plus an applicable margin of 250 basis points that steps up on Feb. 23, 2023 to 400 bps.

Cedar Realty entered into the loan agreement in connection with the completion of its merger with Wheeler Real Estate Investment Trust, Inc.

The real estate investment trust is based in Virginia Beach, Va.

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