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Article: Cedar Shopping Centers Completes $31 Million Purchase of a Supermarket- Anchored Center in New Bedford, MA and a Property in Kent, OH and Terminates Contract to Purchase Bay City, MI Center.
- Article from:
- PR Newswire
- Article date:
- December 22, 2005
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Copyright informationCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PORT WASHINGTON, N.Y., Dec. 22 /PRNewswire-FirstCall/ -- Cedar Shopping Centers, Inc. today announced that it had completed the purchase of Fieldstone Marketplace and Kent Plaza shopping centers for an aggregate purchase price of approximately $31 million.
Fieldstone Marketplace is a 194,000 sq. ft. community shopping center anchored by a 68,000 sq. ft. Shaw's supermarket. The purchase price was $26.2 million, exclusive of closing costs and adjustments. The purchase was effected by assumption of a first mortgage of approximately $19 million and payment of approximately $7.2 million in cash drawn from the Company's revolving credit facility.
Kent Plaza Shopping Center ...
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