Cedar Realty Trust Issues Statement
PORT WASHINGTON, N.Y., Oct. 25, 2017 /PRNewswire/ -- Cedar Realty Trust, Inc. (NYSE: CDR) ("Cedar" or the "Company") today issued the following statement in response to the press release issued by Snow Park Capital Partners, LP:
Cedar Realty Trust welcomes open communications with all shareholders, and appreciates constructive input that may advance our goal of enhancing value. Cedar Realty Trust's Board and management team regularly evaluate strategic options to ensure the Company is best positioned to achieve our objective of driving shareholder value. Cedar closely monitors the market and regularly explores sales of single assets and subsets of its portfolio. Notably, over the last six years the Company has divested its interest in approximately 80 of the 140 assets it owned as of June 2011. As an active buyer and seller in the shopping center market, we have a clear view of the value of our shopping centers, on a one-off and portfolio basis, and therefore have an informed view of today's retail real estate market. The Board and management team are committed to creating long-term value for shareholders and will continue to take action to achieve that objective.
About Cedar Realty Trust
Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust which focuses primarily on the ownership and operation of grocery-anchored shopping centers straddling the Washington D.C. to Boston corridor. The Company's portfolio (excluding properties treated as "held for sale") comprises 61 properties, with approximately 9.0 million square feet of gross leasable area.
Statements made in this press release that are not strictly historical are "forward-looking" statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance and outcomes to differ materially from those expressed or implied in forward-looking statements. Please refer to the documents filed by Cedar Realty Trust, Inc. with the Securities and Exchange Commission (the "SEC"), specifically the Company's Annual Report on Form 10-K for the year ended December 31, 2016, as it may be updated or supplemented in the Company's Quarterly Reports on Form 10-Q and the Company's other filings with the SEC, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements.
For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.cedarrealtytrust.com.
Cedar Realty Trust, Inc.
SOURCE Cedar Realty Trust, Inc.
Released October 25, 2017