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Inland Raises Stake in Cedar

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Inland American Real Estate Trust Inc. has raised its stake in Cedar Shopping Centers Inc. to 12.3 percent, according to a filing with the Securities and Exchange Commission Wednesday.

Inland American beneficially owns 5.4 million shares, or a 12.3 percent stake based on 44.2 million shares outstanding as of Nov. 2.

Previously, the company reported owning about 5 million shares, or an 11.3 percent stake in the Port Washington, N.Y.-based shopping-center real estate investment trust.

Last month, Inland American, a REIT affiliate of Inland Real Estate Group of Cos., said it may seek control of Cedar through a cash tender offer, a possible merger or acquisition or through representation on the company's board.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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