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PHILADELPHIA-A partnership formed by affiliates of Port Washington, NY-basedCedar Income Fund and New Hyde Park, NY-based Kimco Realty Corp. has bought theLoyal Plaza Shopping Center in Williamsport, PA for $18.3 million. The 293,000-sf center is 98%-leased and anchored by a 103,000-sf Kmart and a 67,000-sf Giant supermarket.

It is the sixth shopping center Cedar has acquired in eastern Pennsylvania and southern New Jersey since May 2001. All but one are supermarket-anchored.

The seller is an affiliate of Columbus, OH-based Glimcher Realty Trust, which has completed sales of six shopping centers and a single-tenant asset for a total of $65.5 million during 2002.

The buyer of Loyal Plaza assumed a $13.9-million mortgage, which carried a fixed rate of 7.18%. Glimcher used the balance to pay down a floating bridge loan facility. Net proceeds of $4.6 million, obtained in Glimcher’s June 28 sale of Arnold Plaza, a 155,240-sf, Kmart-anchored center in Arnold, MO were also used for that purpose.

Kmart is operating under Chapter 11 bankruptcy protection.

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