(For more retail coverage, click GlobeSt.com/RETAIL.)
SHENANDOAH, PA-No money traded hands in Cedar Shopping Center'sacquisition of Gold Star Plaza Shopping Center here. In atransaction valued at $7.9 million, the Port Washington, NY-basedretail REIT has assumed approximately $3.9 million of existing debton the asset and issued 270,000 Operating Partnership Units inCedar Shopping Centers Partnership LP to the seller, theKingston-based Mark Development Co.
The OP units "are like stock," Leo Ullman, Cedar's president,chairman and CEO, tells GlobeSt.com. "Except they don't includevoting rights."
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