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N.Y. Real Estate Trust to Purchase Supermarket-Anchored Properties for $119 Million
PORT WASHINGTON, N.Y. -- Cedar Shopping Centers, Inc., a real estate investment trust here, said yesterday it has entered into agreements to purchase a portfolio of eight properties anchored by, or leased entirely to, supermarkets, for $95 million; and a portfolio of four redevelopment properties for approximately $24 million. The aggregate purchase price for the 12 properties, which are located in Pennsylvania, Virginia, and Michigan, is approximately $119 million, exclusive of closing costs and fees.