PARAMUS, N.J.--(BUSINESS WIRE)--
On January 15, 2015, Urban Edge Properties (NYSE:UE) (“UE”) completed
its separation from Vornado Realty Trust (NYSE:VNO) (“Vornado”),
becoming an independent public company. In the separation, Vornado
distributed one UE common share for every two Vornado common shares held
on January 7, 2015 (the “Record Date”).
UE has provided supplemental information on its website at www.uedge.com,
under the tab “Investors,” on IRS Form 8937 regarding how Vornado common
shareholders can allocate their tax basis between Vornado common shares,
which they owned prior to the distribution, and UE common shares. This
information is also available on Vornado’s website at www.vno.com.
UE common shareholders are encouraged to consult their financial
advisors and tax advisors regarding the distribution and the
applicability and effect of any U.S. federal, state and foreign tax laws.
Urban Edge Properties is an equity real estate investment trust that
owns and operates high-quality strip shopping centers and malls in high
barrier-to-entry markets.
Forward-Looking Statements
This press release may contain forward-looking statements that are
subject to risks and uncertainties. Forward-looking statements are not
guarantees of performance. They represent our intentions, plans,
expectations and beliefs and are subject to numerous assumptions, risks
and uncertainties. Our future results, financial condition and business
may differ materially from those expressed in these forward-looking
statements. You can find many of these statements by looking for words
such as “approximates,” “believes,” “expects,” “anticipates,”
“estimates,” “intends,” “plans,” “would,” “may” or other similar
expressions in this press release. We also note the following
forward-looking statements that have been included in this press
release: the impact of the spin-off on UE, the timing of and costs
associated with property improvements, financing commitments, and
general competitive factors. Many of the factors that will determine the
outcome of these and our other forward-looking statements are beyond our
ability to control or predict. For further discussion of factors that
could materially affect the outcome of our forward-looking statements
and our future results and financial condition, see “Item 1A. Risk
Factors” and “Cautionary Statement Concerning Forward-Looking
Statements” of UE on Form 10, as amended. You are cautioned not to place
undue reliance on our forward-looking statements, which speak only as of
the date of this press release. All subsequent written and oral
forward-looking statements attributable to us or any person on our
behalf are expressly qualified in their entirety by the cautionary
statements contained or referred to in this section. We do not undertake
any obligation to release publicly any revisions to our forward-looking
statement to reflect events or circumstances occurring after the date of
this press release.
For Urban Edge Properties
David Reiff, 201-571-3523
Source: Urban Edge Properties