Klein Enterprises Acquires Portfolio of Nine Grocery-Anchored Shopping Centers in Maryland, Virginia, and Pennsylvania
Acquisition increases company''s portfolio value by over 10 percent BALTIMORE , July 13, 2022 |PRNewswire-PRWeb| -- Klein Enterprises , a vertically integrated investor, developer, and operator of diversified real estate holdings, announced today the acquisition of a portfolio of nine grocery-anchored shopping centers spanning Maryland , Virginia , and Pennsylvania . The portfolio totals over 800,000 square feet and was approximately 80 percent leased at the time of closing. Klein purchased the portfolio from Cedar Realty Trust in conjunction with the broader asset acquisition of Cedar''s grocery-anchored portfolio by a joint venture between DRA Advisors and KPR. As part of the transaction, Klein is acquiring seven stabilized shopping centers and two centers actively under redevelopment, including Valley Plaza in Hagerstown, Md. and Yorktowne Plaza in Cockeysville, Md. United Bank provided debt financing for the acquisition. The properties acquired are: Full story available on Benzinga.com
Klein Enterprises Acquires Portfolio of Nine Grocery-Anchored Shopping Centers in Maryland, Virginia, and Pennsylvania
Acquisition increases company''s portfolio value by over 10 percent BALTIMORE , July 13, 2022 |PRNewswire-PRWeb| -- Klein Enterprises , a vertically integrated investor, developer, and operator of diversified real estate holdings, announced today the acquisition of a portfolio of nine grocery-anchored shopping centers spanning Maryland , Virginia , and Pennsylvania . The portfolio totals over 800,000 square feet and was approximately 80 percent leased at the time of closing. Klein purchased the portfolio from Cedar Realty Trust in conjunction with the broader asset acquisition of Cedar''s grocery-anchored portfolio by a joint venture between DRA Advisors and KPR. As part of the transaction, Klein is acquiring seven stabilized shopping centers and two centers actively under redevelopment, including Valley Plaza in Hagerstown, Md. and Yorktowne Plaza in Cockeysville, Md. United Bank provided debt financing for the acquisition. The properties acquired are: Full story available on Benzinga.com