NEW YORK--(BUSINESS WIRE)--
Urban Edge Properties (NYSE:UE) today announced that it has entered into
a definitive agreement to sell 6,250,000 common shares to Cohen & Steers
Capital Management, Inc. for gross proceeds of $155 million. Settlement
is expected to occur on or about August 9, 2017.
The Company intends to use the net proceeds of this offering to fund
development and redevelopment projects, future acquisitions, as well as
for general corporate purposes.
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE listed real estate investment trust
focused on managing, acquiring, developing, and redeveloping retail real
estate in urban communities, primarily in the New York metropolitan
region. Urban Edge owns 90 properties totaling 16.6 million square feet
of gross leasable area.
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Urban Edge Properties
Mark Langer, 212-956-0082
EVP and Chief
Financial Officer
Source: Urban Edge Properties