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RioCan Reit sells entire equity position in Cedar Realty Trust

Mon, 11/02/2013 - 06:22

RioCan Real Estate Investment Trust has sold all 9.4 million shares of Cedar Realty Trust in a block trade through Goldman Sachs for total proceeds of approximately USD48m.

As previously disclosed on 6 September 2012, RioCan and Cedar announced that they agreed to dissolve their joint venture arrangement, and effective 1 February 2013, RioCan assumed all property and asset management activities for the properties that were previously managed by Cedar.

As a result of the sale of these shares held, RioCan no longer has any equity position in Cedar.
 


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