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Cedar Realty Trust
Cedar Realty Trust is a publicly traded REIT led by John Anderson, owning grocery-anchored shopping centers across the eastern US.
Cedar Realty Trust
Cedar Realty Trust went public in 1984 under the name Cedar Shopping Centers and has since repositioned its portfolio around grocery-anchored retail. The firm was taken private in 2009 by a joint venture led by principals including Anderson, then returned to public markets in 2013. Wealth for the trust is raised through public equity and debt markets, not a single family fortune. The trust's strategy targets anchored shopping centers in densely populated metro areas from Connecticut to Virginia. Its portfolio includes properties such as the Shoppes at Buckland Hills in Connecticut and the Shoppes at Quail Springs in Maryland. Cedar focuses on necessity retailers — supermarkets, discounters, and service tenants — rather than discretionary concepts. As of its most recent filings, Cedar Realty Trust reported owning 15 shopping centers totaling approximately 1.8 million square feet. The firm has no disclosed total deployment number for its institutional investors. Its board of directors includes James K. Hayden and other real estate professionals. A key differentiator is Cedar's pure play on grocery-anchored retail in the Northeast corridor, a defensive niche that benefits from inelastic demand for food and household goods. The REIT structure mandates dividend payouts, aligning cash flow distribution with shareholder expectations rather than reinvestment into speculative development.
General information
Firm type
Publicly Traded REIT
Year founded
1984
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Port Washington
Corporate office
Port Washington, NY, United States
Principals
John R. Anderson
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Cedar Realty Trust?
John R. Anderson serves as CEO and leads the trust's investment committee. The board of directors oversees major capital allocation decisions, including acquisitions, dispositions, and financing.
How does Cedar Realty Trust source its properties?
The trust acquires properties through direct negotiations with sellers, often targeting distressed or repositioning opportunities in its core Northeast corridor market. It also develops new shopping centers from time to time.
Is Cedar Realty Trust structured as a family office or a traditional REIT?
Cedar Realty Trust is a publicly traded REIT, not a family office. It raises capital through public equity and debt markets and is regulated by the SEC.
Does Cedar Realty Trust participate in fund commitments or only direct deals?
The trust operates as a direct owner and operator of real estate properties. It does not make fund commitments to external managers.
What investment stages does Cedar Realty Trust typically target?
Cedar focuses on stabilized properties with existing grocery anchors and long-term leases, rather than development or value-add repositioning. This core-plus strategy prioritizes predictable cash flow.
Which sectors does Cedar Realty Trust explicitly avoid?
The trust avoids luxury and discretionary retail centers, office properties, industrial assets, and residential real estate. It focuses exclusively on grocery-anchored retail in the eastern US.
How is Cedar Realty Trust related to Cedar Shopping Centers?
Cedar Realty Trust was originally named Cedar Shopping Centers when it went public in 1984. The name change reflected a narrowed focus on grocery-anchored properties after the 2013 IPO.
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