Mon Sep 16 15:53:29 UTC 2024: ## Cedar Realty Trust Sells Kings Plaza Shopping Center for $14.2 Million

**Virginia Beach, VA** – Cedar Realty Trust, Inc. (NYSE:CDR), a real estate investment trust, announced the sale of Kings Plaza, a retail center in New Bedford, Massachusetts, for $14.2 million. The transaction, which closed on Thursday, September 12, 2024, generated net proceeds of $12.1 million for Cedar Realty Trust.

The sale of the 168,243 square foot shopping center is part of the company’s ongoing portfolio management and capital recycling strategy. While the company did not disclose the length of time Kings Plaza had been part of its assets, the sale is considered a straightforward asset disposition aligned with their business plan.

Cedar Realty Trust has not yet announced specific plans for the use of the proceeds from the sale. The transaction does not signal any broader shift in the company’s strategic direction or financial health.

The information regarding the sale was released in a press release filed with the Securities and Exchange Commission (SEC) on Monday, September 16, 2024. Crystal Plum, Cedar Realty Trust’s Chief Financial Officer, signed off on the filing, fulfilling the company’s regulatory obligations to keep investors and the public informed of significant corporate events.

Cedar Realty Trust, headquartered in Virginia Beach, Virginia, specializes in the ownership, operation, and redevelopment of retail properties. Their portfolio encompasses various properties across the Northeast and Mid-Atlantic regions. The company is incorporated in Maryland and has a fiscal year-end on December 31.

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