NEW YORK--(BUSINESS WIRE)--
Urban Edge Properties (NYSE:UE) today announced it has commenced an
underwritten public offering of 7,700,000 common shares of beneficial
interest pursuant to the Company’s effective shelf registration
statement previously filed on Form S-3 with the Securities and Exchange
Commission. The Company has also granted Morgan Stanley, acting as the
sole bookrunner of the offering, a thirty-day option to purchase up to
1,155,000 additional shares.
The Company intends to use the net proceeds of this offering to fund
acquisitions, development and redevelopment projects, as well as for
general corporate purposes.
Morgan Stanley is acting as the sole bookrunner for the offering. The
offering is being made only by means of a prospectus supplement and
prospectus. A copy of the prospectus supplement and prospectus relating
to these securities may be obtained, when available, by contacting
Morgan Stanley & Co. LLC – Attn: Prospectus Department – 180 Varick
Street, 2nd Floor – New York, NY.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy these securities, nor shall it
constitute an offer, solicitation or sale in any state or jurisdiction
in which such offer, solicitation, or sale is unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
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 86 properties totaling 15.2 million square feet
of gross leasable area.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this Press Release constitute
forward-looking statements as such term is defined in Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Forward-looking statements are not
guarantees of future 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. 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; these factors include,
among others, the Company's ability to complete the offering on the
terms described in the registration statement, prospectus supplement
related to this offering and the accompanying prospectus, the Company’s
ability to complete its active development, redevelopment and anchor
repositioning projects, the Company’s ability to pursue, finance and
complete acquisition opportunities, the Company's ability to engage in
the projects in its planned expansion and redevelopment pipeline and the
Company's ability to achieve the estimated unleveraged returns for such
projects and acquisitions.
For further discussion of factors that could materially affect the
outcome of our forward-looking statements, see “Risk Factors” in Part I,
Item 1A, of our Annual Report on Form 10-K for the year ended December
31, 2016, and the other documents filed by the Company with the
Securities and Exchange Commission. For these statements, we claim the
protection of the safe harbor for forward-looking statements contained
in the Private Securities Litigation Reform Act of 1995. 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 acting 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 statements to reflect events or circumstances occurring
after the date of this Press Release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170504006708/en/
Urban Edge Properties
Mark Langer, 212-956-0082
EVP and Chief
Financial Officer
Source: Urban Edge Properties