v3.25.2
CONSOLIDATED BALANCE SHEETS - UELP - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Dec. 31, 2023
Real estate, at cost:        
Land $ 648,943 $ 660,198    
Buildings and improvements 2,813,916 2,791,728    
Construction in progress 292,704 289,057    
Furniture, fixtures and equipment 12,561 11,296    
Total 3,768,124 3,752,279    
Accumulated depreciation and amortization (906,157) (886,886)    
Real estate, net 2,861,967 2,865,393    
Operating lease right-of-use assets 62,116 65,491    
Cash and cash equivalents 52,962 41,373 $ 78,615 $ 101,123
Restricted cash 65,239 49,267 22,591 73,125
Tenant and other receivables 25,272 20,672    
Receivable arising from the straight-lining of rents 62,228 61,164    
Identified intangible assets, net of accumulated amortization of $66,352 and $65,027, respectively 95,096 109,827    
Deferred leasing costs, net of accumulated amortization of $20,741 and $22,488, respectively 30,356 27,799    
Prepaid expenses and other assets 58,315 70,554    
Total assets 3,313,551 3,311,540    
Liabilities:        
Mortgages payable, net 1,514,237 1,569,753    
Unsecured credit facility 90,000 50,000    
Operating lease liabilities 59,376 62,585    
Accounts payable, accrued expenses and other liabilities 85,910 89,982    
Identified intangible liabilities, net of accumulated amortization of $55,347 and $50,275, respectively 171,424 177,496    
Total liabilities 1,920,947 1,949,816    
Commitments and contingencies (Note 10)    
Partners’ capital:        
Accumulated other comprehensive (loss) income (190) 177    
Accumulated earnings 145,043 126,670    
Consolidated subsidiaries 18,287 18,574    
Total equity 1,392,604 1,361,724 1,265,750 1,221,428
Total liabilities and equity 3,313,551 3,311,540    
Urban Edge Properties LP        
Real estate, at cost:        
Land 648,943 660,198    
Buildings and improvements 2,813,916 2,791,728    
Construction in progress 292,704 289,057    
Furniture, fixtures and equipment 12,561 11,296    
Total 3,768,124 3,752,279    
Accumulated depreciation and amortization (906,157) (886,886)    
Real estate, net 2,861,967 2,865,393    
Operating lease right-of-use assets 62,116 65,491    
Cash and cash equivalents 52,962 41,373 78,615 101,123
Restricted cash 65,239 49,267 22,591 73,125
Tenant and other receivables 25,272 20,672    
Receivable arising from the straight-lining of rents 62,228 61,164    
Identified intangible assets, net of accumulated amortization of $66,352 and $65,027, respectively 95,096 109,827    
Deferred leasing costs, net of accumulated amortization of $20,741 and $22,488, respectively 30,356 27,799    
Prepaid expenses and other assets 58,315 70,554    
Total assets 3,313,551 3,311,540    
Liabilities:        
Mortgages payable, net 1,514,237 1,569,753    
Unsecured credit facility 90,000 50,000    
Operating lease liabilities 59,376 62,585    
Accounts payable, accrued expenses and other liabilities 85,910 89,982    
Identified intangible liabilities, net of accumulated amortization of $55,347 and $50,275, respectively 171,424 177,496    
Total liabilities 1,920,947 1,949,816    
Commitments and contingencies (Note 10)    
Partners’ capital:        
General partner: 125,791,099 and 125,450,684 units outstanding, respectively 1,160,844 1,151,234    
Limited partners: 6,610,906 and 6,386,837 units outstanding, respectively 62,439 59,466    
Accumulated other comprehensive (loss) income (190) 177    
Accumulated earnings 151,224 132,273    
Total partners’ capital 1,374,317 1,343,150    
Consolidated subsidiaries 18,287 18,574    
Total equity 1,392,604 1,361,724 $ 1,265,750 $ 1,221,428
Total liabilities and equity $ 3,313,551 $ 3,311,540