secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2022-08-03T23:59:59+00:00
Accession:  0001611547-22-000047
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban Edge Properties Q2 2022 FFO as Adj. $0.30/share; record leasing of 716K sf
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- Net income $11.6M ($0.10/diluted) vs $12.5M ($0.11) in Q2 2021; FFO as Adj. $36.8M ($0.30) vs $34.5M ($0.28).
- Same-property NOI +1.2% (+6.0% ex. prior-year uncollectible receipts); leased occupancy 94.9%, +270bps YoY.
- Executed record 716K sf of leases at 9.6% cash rent spreads; 290K sf new leases including anchor tenants.
- Acquired The Shops at Riverwood for $32.9M (initial yield ~6%); active redevelopment $205.8M with 10% expected yield.
- Total liquidity $771M; refinanced two mortgages ($52.9M at SOFR+2.26%, $29M at Prime+50bps).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154722000047/0001611547-22-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154722000047/ue-20220803.htm
  HTML page:      https://secwatch.observer/filing/0001611547-22-000047

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