v3.25.4
MORTGAGES PAYABLE (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Mortgages Payable
The following is a summary of mortgages payable as of December 31, 2025 and December 31, 2024.
 Interest Rate atDecember 31,December 31,
(Amounts in thousands)MaturityDecember 31, 202520252024
Mortgages secured by: 
Variable rate
Plaza at Woodbridge(1)
6/8/2027—%$— $50,905 
Total variable rate debt— 50,905 
Fixed rate
West End Commons12/10/2025—%— 23,717 
Town Brook Commons12/1/20263.78%28,965 29,610 
Rockaway River Commons12/1/20263.78%25,645 26,215 
Hanover Commons12/10/20264.03%58,935 60,155 
Tonnelle Commons4/1/20274.18%93,377 95,286 
Manchester Plaza6/1/20274.32%12,500 12,500 
Millburn Gateway Center6/1/20273.97%21,013 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%35,295 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%20,577 20,958 
Shops at Bruckner7/1/20296.00%36,848 37,350 
Shoppers World(2)
8/15/20295.12%123,600 — 
Greenbrook Commons9/1/20296.03%31,000 31,000 
Huntington Commons12/5/20296.29%43,704 43,704 
Bergen Town Center4/10/20306.30%287,779 290,000 
The Outlets at Montehiedra6/1/20305.00%71,412 73,551 
Montclair(3)
8/15/20303.15%7,201 7,250 
Garfield Commons12/1/20304.14%38,134 38,886 
Shops at Caguas(4)
1/31/20316.15%79,983 81,504 
The Village at Waugh Chapel(5)
12/1/20313.76%55,784 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%15,505 15,719 
Briarcliff Commons10/1/20345.47%30,000 30,000 
Mount Kisco Commons(6)
11/15/20346.40%9,631 10,390 
Total fixed rate debt1,619,388 1,532,915 
 Total mortgages payable1,619,388 1,583,820 
Unamortized debt issuance costs(12,614)(14,067)
Total mortgages payable, net of unamortized debt issuance costs$1,606,774 $1,569,753 
(1)The Company paid off the loan prior to maturity on June 26, 2025.
(2)Bears interest at SOFR plus 170 bps. The variable component of the debt is hedged with an interest rate swap agreement, fixing the rate at 5.12%, which expires at the maturity of the loan.
(3)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.
(4)The loan was modified on October 27, 2025, reducing the interest rate from 6.60% to 6.15% and shortening the maturity date to January 31, 2031.
(5)The mortgage payable balance includes unamortized debt mark-to-market discount of $4.2 million.
(6)The mortgage payable balance includes unamortized debt mark-to-market discount of $0.5 million.
Schedule of Principal Repayments
As of December 31, 2025, the principal repayments of the Company’s total outstanding debt for the next five years and thereafter are as follows:
(Amounts in thousands) 
Year Ending December 31,
2026$126,998 
2027272,360 
2028135,165 
2029360,269 
2030378,147 
Thereafter346,449