Cedar Shopping Centers Completes Purchase of Five Shopping Centers

Cedar Shopping Centers, Inc. CDR today announced that it, on behalf of a joint venture between Cedar (20%) and RioCan Real Estate Investment Trust of Toronto, Canada, (80%), has completed the purchase, for approximately $134.7 million, exclusive of closing costs and adjustments, of five anchored-shopping centers, constituting the initial five properties of the seven-property portfolio to be purchased from the Pennsylvania Real Estate Investment Trust PEI.