Cedar Realty Trust
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| Public | |
| Traded as | : CDR S&P 600 Component |
| Founded | 1984 |
| Headquarters | Port Washington, New York, United States |
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Number of locations
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65 operating properties |
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Area served
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Northeast megalopolis, United States |
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Number of employees
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71 (Dec. 2013) |
| Website | www |
Footnotes / references
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Cedar Realty Trust is a publicly traded, American real estate investment trust (REIT) which specifically manages and owns supermarket anchored shopping centers. The company is headquartered in Port Washington, New York and incorporated in Maryland. As of December 2013[update], the company's primary property footprint was in the Washington, D.C. to Boston metropolitan corridor, where it owned 65 "operating properties" amounting to ~9.4 million sq. ft. of gross leasable area (GLA), and occupied by 899 . Cedar's properties are found in Connecticut, Maryland, Massachusetts, New Jersey, New York, Virginia and Pennsylvania.
Cedar Realty Trust was formerly known as "Cedar Shopping Centers".
As noted in the opening, Cedar has set itself up as a REIT which is an IRS-recognized taxable structure under which most of its assets must be in and revenue from real estate or related sources. Essentially all of Cedar's revenue comes from rents and payments on long-term leases from of their various properties. As of December 2013[update], >90% of Cedar's gross leasable area was occupied. Cedar's focus on "grocery-anchored community shopping centers" is predicated on the notion that people need to eat and purchase staples and will continue to need to do so into the future, thus providing a long term stable base for revenues.
Cedar operates under a structure where substantially all of its assets have been contributed to a limited partnership, Cedar Realty Trust Partnership, L.P., which itself is a Delaware corporation. As of December 2013[update], Cedar was the only partner in the Partnership and owned >99% of the contributed assets.
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