v3.25.2
MORTGAGES PAYABLE (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Mortgages Payable
The following is a summary of mortgages payable as of June 30, 2025 and December 31, 2024.
(Amounts in thousands)Maturity
Interest Rate at June 30, 2025
June 30, 2025December 31, 2024
Mortgages secured by: 
Variable rate
Plaza at Woodbridge(1)
6/8/2027—%$— $50,905 
Total variable rate debt— 50,905 
Fixed rate
West End Commons12/10/20253.99%23,470 23,717 
Town Brook Commons12/1/20263.78%29,291 29,610 
Rockaway River Commons12/1/20263.78%25,933 26,215 
Hanover Commons12/10/20264.03%59,551 60,155 
Tonnelle Commons4/1/20274.18%94,342 95,286 
Manchester Plaza6/1/20274.32%12,500 12,500 
Millburn Gateway Center6/1/20273.97%21,270 21,525 
Totowa Commons12/1/20274.33%50,800 50,800 
Woodbridge Commons12/1/20274.36%22,100 22,100 
Brunswick Commons12/6/20274.38%63,000 63,000 
Rutherford Commons1/6/20284.49%23,000 23,000 
Hackensack Commons3/1/20284.36%66,400 66,400 
Marlton Commons12/1/20283.86%35,663 36,024 
Yonkers Gateway Center4/10/20296.30%50,000 50,000 
Ledgewood Commons5/5/20296.03%50,000 50,000 
The Shops at Riverwood6/24/20294.25%20,769 20,958 
Shops at Bruckner7/1/20296.00%37,100 37,350 
Greenbrook Commons9/1/20296.03%31,000 31,000 
Huntington Commons12/5/20296.29%43,704 43,704 
Bergen Town Center4/10/20306.30%289,454 290,000 
The Outlets at Montehiedra6/1/20305.00%72,507 73,551 
Montclair(2)
8/15/20303.15%7,250 7,250 
Garfield Commons12/1/20304.14%38,513 38,886 
The Village at Waugh Chapel(3)
12/1/20313.76%55,427 55,071 
Brick Commons12/10/20315.20%50,000 50,000 
Woodmore Towne Centre1/6/20323.39%117,200 117,200 
Newington Commons7/1/20336.00%15,613 15,719 
Shops at Caguas8/1/20336.60%80,760 81,504 
Briarcliff Commons10/1/20345.47%30,000 30,000 
Mount Kisco Commons(4)
11/15/20346.40%10,017 10,390 
Total fixed rate debt1,526,634 1,532,915 
Total mortgages payable1,526,634 1,583,820 
Total unamortized debt issuance costs(12,397)(14,067)
Total mortgages payable, net$1,514,237 $1,569,753 
(1)The Company paid off the loan prior to maturity on June 26, 2025.
(2)Bears interest at SOFR plus 257 bps. The fixed and variable components of the debt are hedged with an interest rate swap agreement, fixing the rate at 3.15%, which expires at the maturity of the loan.
(3)The mortgage payable balance includes unamortized debt mark-to-market discount of $4.6 million.
(4)The mortgage payable balance includes unamortized debt mark-to-market discount of $0.6 million.
Schedule of Principal Repayments
As of June 30, 2025, the principal repayments of the Company’s total outstanding debt for the remainder of 2025, the five succeeding years, and thereafter are as follows:
(Amounts in thousands) 
Year Ending December 31,
2025(1)
$30,891 
2026126,997 
2027272,363 
2028225,168 
2029236,619 
2030378,147 
Thereafter346,449 
(1) Remainder of 2025.