Wheeler Real Estate Investment Trust, Inc.

Overview

Deal Type Mergers & Acquisitions
Size $291.3 Million
Client & Transactional Partners Wheeler Real Estate Investment Trust, Inc.
Cedar Realty Trust, Inc.
Our Role Exclusive Buy-Side Advisor

Summary

On August 22, 2022, Wheeler Real Estate Investment Trust, Inc. (WHLR) completed its previously announced acquisition of Cedar Realty Trust, Inc. (CDR) in an all-cash transaction that valued the CDR assets at $291.3 million. WHLR acquired CDR’s remaining portfolio of 19 multi-tenant retail properties across six states. As a result of the transaction, CDR is now wholly owned by WHLR, with CDR’s 7.25% Series B Preferred Stock and 6.50% Series C remaining listed on the New York Stock Exchange. KeyBank’s Institutional Real Estate Group provided a $130 million first-mortgage secured bridge loan to facilitate the acquisition. KeyBanc Capital Markets served as Exclusive Buy-Side Advisor on the transaction.

Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust, Inc. is a fully integrated, self-managed commercial real estate investment company focused on owning and operating income producing retail properties with a primary focus on grocery-anchored centers. WHLR’s portfolio contains well located, potentially dominant retail properties in secondary and tertiary markets that generate attractive, risk adjusted returns.

Cedar Realty Trust is a fully integrated real estate investment trust which focuses on the ownership, operation, and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, D.C. to Boston. CDR's portfolio comprised 53 properties with approximately 7.6 million square feet of gross leasable area leading up to the acquisition.

Recent Deals

September 2022

$600 Million

Delayed Draw Term Loan

$700 Million

Bridge Revolver

Joint Lead Arranger
Joint Bookrunner

Debt Capital Markets

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September 2022

Welltower 

$750 Million

Unitranche Joint Venture

First mortgage financing available for seniors housing & skilled nursing facilities

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September 2022

Welltower 

$5.2 Billion

Senior Unsecured Credit Facility

Joint Lead Arranger
Administrative Agent

welltower
September 2022

OMNI

$27 Million

Vitalia Senior Residences, Ohio

Life Company

omni
August 2022

Ventana al Sur

$49.3 Million

New Construction of Seniors Housing

Construction

ventana-al-sur
August 2022

 

$1 Billion

Senior Secured Credit Facility

Joint Lead Arranger
Joint Bookrunner

Debt Capital Markets

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August 2022

Claysburg II Tower 

$21 Million

Private Placement Permanent Loan to finance acquisition and rehabilitation of Claysburg II Tower

Private Placement

claysburg-ii-tower
August 2022

Cadenza 

$28.5 Million

New construction of 160 affordable units

Bridge
Construction
Low Income Housing Tax Credits

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August 2022

 

$3 Billion

Senior Secured Credit Facility; Term Loan

Joint Lead Arranger
Joint Bookrunner
Documentation Agent

Debt Capital Markets

earthstone-energy-inc-
August 2022


$124 Million

Senior Secured Credit Facilities

Coordinating Lead Arranger
Sole Bookrunner
Administrative Agent
Depository Bank
Collateral Agent
Issuing Bank

Debt Capital Markets

amp-energy
August 2022

 

$1.5 Billion

Senior Secured Credit Facility

Administrative Agent
Coordinating Lead Arranger
Sole Bookrunner

Debt Capital Markets

diversified-energy-company-plc-1
July 2022

 

$280 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

Debt Capital Markets

intralot-inc-
July 2022

has acquired

 

$75.8 Million

Senior Secured Credit Facilities

Debt Advisor

Debt Capital Markets
Mergers & Acquisitions

traffic-control-&-protection-inc
July 2022

Lofts on Main

$14.3 Million

Adaptive Reuse and New Construction

Construction

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July 2022

 

$10 Million

Senior Secured Credit Facilities

Sole Lender

rudis

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