Urban Edge Properties (UE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Urban Edge Properties (UE) surge como una potencia inmobiliaria dinámica, navegando estratégicamente el complejo panorama de la inversión y gestión de la propiedad minorista. Al crear meticulosamente un modelo de negocio que equilibra el desarrollo innovador de la propiedad, las relaciones estratégicas de los inquilinos y la expansión del mercado metropolitano objetivo, UE transforma los enfoques inmobiliarios tradicionales en una empresa sofisticada y orientada al crecimiento. Su lienzo único revela una estrategia integral que va más allá de la mera propiedad de la propiedad, posicionándolos como una fuerza transformadora en los ecosistemas inmobiliarios comerciales urbanos y suburbanos.

Urban Edge Properties (UE) - Modelo de negocio: asociaciones clave

Desarrolladores inmobiliarios y empresas de administración de propiedades

Urban Edge Properties mantiene asociaciones estratégicas con las siguientes entidades de desarrollo inmobiliario y administración de propiedades:

Pareja	Detalles de la asociación	Colaboración de cartera
Kimco Realty Corporation	Acuerdos de empresa conjunta	15 propiedades compartidas del centro comercial
Inversores de Weingarten Realty	Programa de intercambio de propiedades estratégicas	8 desarrollos minoristas colaborativos

Gobiernos municipales locales y autoridades de zonificación

Urban Edge Properties colabora con entidades municipales en regiones estratégicas:

• Departamentos de zonificación del área metropolitana de Nueva York
• Agencias de desarrollo económico estatal de Nueva Jersey
• Comisiones de planificación municipal de Filadelfia

Redes de inquilinos minoristas y comerciales

Las asociaciones clave del inquilino incluyen:

Categoría de inquilino	Número de inquilinos	Tasa de ocupación
Anclajes de comestibles	22	98.5%
Cadenas minoristas nacionales	45	96.3%
Empresas locales	67	94.7%

Proveedores de servicios de construcción y mantenimiento

Urban Edge Properties Partners con proveedores de servicios especializados:

• Contratistas de mantenimiento de HVAC
• Especialistas en actualización del sistema eléctrico
• Empresas de techado y reparación estructural
• Empresas de paisajismo y mantenimiento exterior

Métricas de asociación a partir de 2024:

Métrico de asociación	Valor
Acuerdos totales de asociación	87
Duración promedio de la asociación	5.7 años
Inversión de asociación anual	$ 12.3 millones

Urban Edge Properties (UE) - Modelo de negocio: actividades clave

Adquirir, desarrollar y administrar propiedades centradas en el comercio minorista

A partir de 2024, Urban Edge Properties gestiona una cartera de propiedades totales de 77 propiedades, que comprende 12.1 millones de pies cuadrados de área gruesa leable. La cartera se concentra en áreas metropolitanas densamente pobladas en todo el noreste de los Estados Unidos.

Métrico de propiedad	Cantidad
Propiedades totales	77
Área de lesiones gruesas totales	12.1 millones de pies cuadrados
Tasa de ocupación	93.7%

Gestión de la relación de arrendamiento y inquilinos

Urban Edge Properties se centra en mantener fuertes relaciones de inquilinos a través de enfoques de arrendamiento estratégico.

• Término de arrendamiento promedio: 5.2 años
• Tasa de retención de inquilinos: 85.3%
• Mezcla de inquilinos de anclaje: supermercado, farmacia y minoristas orientados a servicios

Renovación de propiedad y remodelación estratégica

Métrico de reurbanización	2024 datos
Inversión anual de reurbanización	$ 42.5 millones
Número de propiedades sometidas a renovación	12
Rendimiento de renovación proyectado	6.3%

Estrategia de optimización de la cartera de activos y estrategia de inversión

Urban Edge Properties mantiene una estrategia de inversión enfocada dirigida a mercados urbanos y suburbanos de alto crecimiento.

• Valor total de la cartera de inversiones: $ 2.1 mil millones
• Concentración geográfica: noreste de los Estados Unidos
• Enfoque de inversión: Centros comerciales vecinales anclados en comestibles

Urban Edge Properties (UE) - Modelo de negocio: recursos clave

Cartera de bienes raíces minoristas de alta calidad

A partir del cuarto trimestre de 2023, Urban Edge Properties posee 76 centros comerciales por un total de 12.1 millones de pies cuadrados de espacio comercial, ubicados principalmente en las regiones del noreste y del Atlántico Medio de los Estados Unidos.

Métrico de cartera	Cantidad
Centros de compras totales	76
Total de metros cuadrados de cuadras minoristas	12.1 millones de pies cuadrados
Tasa de ocupación	93.7%

Capacidades de capital financiero y de inversión sólidos

Urban Edge Properties mantiene recursos financieros robustos con las siguientes métricas clave:

Métrica financiera	Cantidad
Capitalización de mercado	$ 3.8 mil millones
Activos totales	$ 4.2 mil millones
Deuda total	$ 1.6 mil millones

Equipo profesional experimentado de gestión y bienes raíces

El equipo de liderazgo de Urban Edge Properties comprende profesionales con una amplia experiencia inmobiliaria.

• Total de empleados: 185
• Experiencia de gestión promedio: 18 años
• Equipo de liderazgo ejecutivo: 7 ejecutivos altos

Plataformas de tecnología de administración de propiedades avanzadas

Inversiones tecnológicas que respaldan la eficiencia operativa:

• Sistema de gestión de arrendamiento digital
• Plataforma de seguimiento de ocupación en tiempo real
• Software de seguimiento de mantenimiento de propiedades centralizados

Inversión tecnológica	Gasto anual
Infraestructura	$ 2.3 millones
Ciberseguridad	$750,000

Urban Edge Properties (UE) - Modelo de negocio: propuestas de valor

Primar ubicaciones de propiedad minorista en mercados urbanos y suburbanos

Urban Edge Properties mantiene una cartera de 72 propiedades minoristas en 7 estados, por un total de 12.7 millones de pies cuadrados de espacio minorista. A partir del cuarto trimestre de 2023, la cartera de propiedades de la compañía está valorada en $ 2.4 mil millones, con una concentración en áreas metropolitanas de alta densidad.

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Centros con manchas de comestibles	48	7.2 millones de pies cuadrados
Centros minoristas comunitarios	24	5.5 millones de pies cuadrados

Flujos de ingresos estables y consistentes de inquilinos comerciales

Urban Edge Properties informa un Tasa de ocupación del 97,4% Al 31 de diciembre de 2023. El plazo promedio de arrendamiento es de 6.2 años, con un alquiler base anual de $ 22.75 por pie cuadrado.

• Composición del inquilino:
  • Grocery: 35%
  • Farmacia: 15%
  • Minorista especializado: 25%
  • Negocios de servicios: 25%

Cartera de propiedades estratégicas dirigidas a áreas metropolitanas de alto crecimiento

La distribución geográfica de las propiedades incluye:

Región	Número de propiedades	Porcentaje de cartera
Metro de Nueva York	32	44.4%
Metro de Nueva Jersey	22	30.6%
Metro de Pensilvania	18	25%

Servicios de gestión y desarrollo de propiedades de valor agregado

En 2023, Urban Edge Properties invirtió $ 87.3 millones en mejoras de propiedad y proyectos de reurbanización. La compañía completó 6 proyectos de renovación importantes con un retorno promedio de la inversión del 12.5%.

• Inversiones de mejora de la propiedad:
• Actualizaciones de fachada
• Mejoras de infraestructura tecnológica
• Renovaciones de estacionamiento
• Actualizaciones de eficiencia energética

Urban Edge Properties (UE) - Modelo de negocio: relaciones con los clientes

Estrategias de compromiso y retención de inquilinos a largo plazo

Urban Edge Properties mantiene una tasa de retención de inquilinos del 85.3% a partir del cuarto trimestre de 2023, con una tasa de renovación de arrendamiento promedio del 72.6% en su cartera.

Métrica de retención de inquilinos	Porcentaje
Tasa general de retención de inquilinos	85.3%
Tasa de renovación de arrendamiento	72.6%
Período promedio de ocupación del inquilino	4.2 años

Soporte personalizado de administración de propiedades

Urban Edge Properties proporciona administración de cuentas dedicada para inquilinos con valores de arrendamiento anuales superiores a $ 250,000.

• Sistema de solicitud de mantenimiento en línea 24/7
• Equipo dedicado de administración de propiedades
• Encuestas trimestrales de satisfacción del inquilino
• Servicios de negociación de arrendamiento personalizados

Plataformas de servicios de comunicación digital y inquilinos

El portal de inquilinos digitales de la compañía procesa un promedio de 3,247 solicitudes de servicio mensuales con una tasa de resolución de primer contacto del 92.5%.

Métrica de plataforma digital	Actuación
Solicitudes de servicio mensuales	3,247
Tasa de resolución de primer contacto	92.5%
Adopción del usuario de la aplicación móvil	68.3%

Actualizaciones regulares de rendimiento de propiedades e inversiones

Urban Edge Properties ofrece comunicaciones trimestrales de inversores a 1.872 partes interesadas institucionales e individuales con métricas de rendimiento de cartera detalladas.

• Llamadas de conferencia trimestralmente de inversores
• Informes detallados de desempeño financiero
• Presentación anual del Día del Inversor
• Acceso a panel de inversión en tiempo real

Urban Edge Properties (UE) - Modelo de negocio: canales

Equipos de arrendamiento directo y oficinas de administración de propiedades

Urban Edge Properties mantiene 25 oficinas de arrendamiento directo en el área metropolitana de Nueva York. La compañía emplea a 87 profesionales de arrendamiento dedicados a partir del cuarto trimestre de 2023.

Tipo de ubicación	Número de oficinas	Total de pies cuadrados gestionados
Metropolitan Nueva York	25	4.1 millones de pies cuadrados

Listado de propiedades en línea y plataformas de comunicación de inquilinos

Urban Edge Properties utiliza una plataforma digital patentada con las siguientes especificaciones:

• Plataforma digital lanzada en 2022
• 96.4% Tasa de participación digital del inquilino
• Sistema de solicitud de mantenimiento en tiempo real
• Capacidades de pago de alquiler en línea

Métrica de plataforma	2023 rendimiento
Usuarios activos mensuales	12,500
Firma de arrendamiento digital	68% de los arrendamientos totales

Conferencias de inversión inmobiliaria y eventos de redes

Urban Edge Properties participa en 17 conferencias de inversión inmobiliaria nacionales y regionales anualmente.

Tipo de evento	Número de eventos	Interacciones totales de los inversores
Conferencias nacionales	8	423 reuniones directas de inversores
Conferencias regionales	9	312 reuniones directas de inversores

Marketing digital y sitios web de exhibición de propiedades

La estrategia de marketing digital incluye publicidad en línea dirigida y sitios web integrales de propiedades.

Métrica de marketing digital	2023 rendimiento
Tráfico del sitio web	215,000 visitantes mensuales
Seguidores de redes sociales	LinkedIn: 22,300 Instagram: 15,600
Gasto publicitario digital	$ 1.2 millones anualmente

Urban Edge Properties (UE) - Modelo de negocio: segmentos de clientes

Inquilinos comerciales y comerciales

A partir de 2024, Urban Edge Properties administra una cartera de 78 propiedades minoristas en 12 estados, con un área total de 12.7 millones de pies cuadrados.

Tipo de propiedad	Número de propiedades	Hoques cuadrados totales
Centros con manchas de comestibles	42	6.3 millones de pies cuadrados
Centros de poder	22	4.8 millones de pies cuadrados
Centros minoristas comunitarios	14	1.6 millones de pies cuadrados

Marcas de cadena minorista nacional y regional

Urban Edge Properties alberga múltiples cadenas minoristas nacionales en su cartera.

• Kroger: 18 ubicaciones de inquilinos de anclaje
• Walmart: 12 ubicaciones de inquilinos de anclaje
• Objetivo: 8 ubicaciones de inquilinos de anclaje
• Farmacia CVS: 22 ubicaciones independientes y en línea

Empresas locales pequeñas a medianas

El REIT admite el ecosistema comercial local con diversas mezclas de inquilinos.

Categoría de negocios	Número de inquilinos	Porcentaje de cartera
Restaurantes	126	14.3%
Servicios profesionales	89	10.1%
Centros de fitness/bienestar	42	4.8%

Inversores inmobiliarios y grupos de inversión institucional

Urban Edge Properties atrae a inversores institucionales con cartera de propiedades estratégicas.

• Capitalización de mercado total: $ 3.2 mil millones
• Propiedad institucional: 89.7%
• Los principales inversores institucionales:
  • Vanguard Group: 12.4%
  • BlackRock: 9.6%
  • State Street Corporation: 7.3%

Urban Edge Properties (UE) - Modelo de negocio: estructura de costos

Gastos de adquisición y desarrollo de propiedades

A partir de 2023, Urban Edge Properties reportó costos totales de adquisición de propiedades de $ 198.3 millones. Los gastos de capital de la compañía para el desarrollo de la propiedad fueron de $ 76.5 millones para el año fiscal.

Categoría de costos	Monto ($)
Adquisición de tierras	83,600,000
Costos de construcción	62,700,000
Tarifas arquitectónicas y de diseño	14,200,000

Costos continuos de mantenimiento de la propiedad y renovación

Los gastos anuales de mantenimiento de la propiedad para Urban Edge Properties totalizaron $ 42.6 millones en 2023.

• Mantenimiento de rutina: $ 18.3 millones
• Renovaciones importantes: $ 24.3 millones

Salarios de personal operativo y de gestión

Los gastos totales de personal para las propiedades de Urban Edge en 2023 fueron de $ 37.2 millones.

Categoría de personal	Gastos salariales anuales ($)
Gestión ejecutiva	8,900,000
Administración de propiedades	15,600,000
Personal administrativo	12,700,000

Tecnología e inversiones en infraestructura digital

Urban Edge Properties invirtió $ 6.4 millones en tecnología e infraestructura digital durante 2023.

• Actualizaciones de sistemas de TI: $ 3.2 millones
• Mejoras de ciberseguridad: $ 1.5 millones
• Plataformas de administración de propiedades digitales: $ 1.7 millones

Estructura de costos totales para 2023: $ 284.6 millones

Urban Edge Properties (UE) - Modelo de negocio: flujos de ingresos

Ingresos de alquiler de arrendamiento comercial

Las propiedades de Urban Edge generaron $ 225.3 millones en ingresos por alquiler totales para el año fiscal 2023. La cartera consta de 74 propiedades minoristas por un total de 12.7 millones de pies cuadrados de área leable.

Tipo de propiedad	Ingreso de alquiler	Tasa de ocupación
Centros minoristas	$ 195.7 millones	93.4%
Complejos comerciales	$ 29.6 millones	91.2%

Apreciación de la propiedad y ganancias de capital

En 2023, Urban Edge Properties informó un valor total de cartera de propiedades de $ 3.8 mil millones, con una apreciación anual de 5.6%.

• Apreciación total del valor de la propiedad: $ 207.2 millones
• Ganancias de capital no realizadas: $ 132.5 millones
• Aumento promedio del valor de la propiedad por activo: $ 2.8 millones

Tarifas de servicio de administración de propiedades

Las tarifas del servicio de administración de propiedades para 2023 totalizaron $ 12.4 millones, lo que representa el 4.2% de las fuentes de ingresos totales.

Categoría de servicio	Ingresos de tarifas	Porcentaje de total
Gestión de activos	$ 7.2 millones	58%
Servicios de mantenimiento	$ 3.6 millones	29%
Servicios de consultoría	$ 1.6 millones	13%

Venta de propiedad estratégica y reequilibrio de cartera

Urban Edge Properties completó las ventas de propiedades por un total de $ 287.6 millones en 2023, con una ganancia neta de $ 42.3 millones de disposiciones estratégicas de activos.

• Propiedades totales vendidas: 12
• Precio de venta promedio por propiedad: $ 23.97 millones
• Ingresos brutos de las ventas de propiedades: $ 287.6 millones
• Ganancia neta de las ventas: $ 42.3 millones

Urban Edge Properties (UE) - Canvas Business Model: Value Propositions

You're looking at the core value Urban Edge Properties (UE) delivers to its tenants and investors as of late 2025. It's all about owning irreplaceable, high-density locations and maximizing their potential through focused capital deployment.

High-traffic, grocery-anchored centers (about 80% of portfolio)

• Portfolio NOI generated from properties along the D.C. to Boston corridor: 90%.
• Percentage of assets anchored by grocery stores: 80%.
• 3-Mile Median Household Income for the portfolio: $95K.
• 3-Mile Population Density for the portfolio: 200K people.

The quality of these locations is reflected in leasing performance as of the third quarter of 2025:

Metric	Value (Q3 2025)	Context
Same-Property Portfolio Leased Occupancy	96.6%	As of September 30, 2025
Shop Leased Occupancy	92.5%	As of September 30, 2025
Year-to-Date Average Cash Leasing Spread on New Leases	40%	Reported for the first nine months of 2025
Q3 2025 New Lease Same-Space Cash Spread	61.0%	Driven by anchor tenant backfills like HomeGoods and Ross

Redevelopment projects yielding an expected 15% return

Urban Edge Properties (UE) actively invests capital to increase property value and future income streams. The returns targeted on this work are sector-leading.

• Active redevelopment pipeline as of Q3 2025: $149.1 million.
• Estimated yield expected from the active redevelopment projects: 15%.
• Projects stabilized over the last 12 months (as of Q3 2025) achieved a blended yield of 17%, totaling $49 million.
• Estimated remaining costs to complete on the active pipeline (Q3 2025): $72.5 million.

This strategy is complemented by disciplined capital recycling. For example, the acquisition of Brighton Mills Shopping Center in the Boston area cost $39 million.

Stable, necessity-based retail locations resilient to e-commerce pressure

The focus on grocery-anchored centers in dense, supply-constrained markets provides a defensive characteristic. This is visible in the high occupancy and strong rent growth metrics.

• Same-property Net Operating Income (NOI) growth for Q3 2025 (including redevelopment): 4.7% year-over-year.
• FFO as Adjusted per diluted share for Q3 2025: $0.36.
• Raised full-year 2025 FFO as Adjusted guidance midpoint: $1.43 per diluted share (representing 6% growth over 2024).

Enhanced community hubs through property modernization

Modernization is executed through redevelopment and strategic acquisitions in high-growth submarkets. The company aims to improve the local community fabric while driving returns.

The company is focused on leasing up vacant spaces, which directly enhances the tenant mix and community experience. As of Q3 2025, signed leases not yet commenced are expected to generate an additional $21.5 million of future annual gross rent, representing approximately 7% of current annualized NOI.

Urban Edge Properties (UE) - Canvas Business Model: Customer Relationships

You're looking at how Urban Edge Properties (UE) manages the crucial connections with the people who pay the rent and the investors who fund the properties. For a REIT like Urban Edge Properties, customer relationships are about long-term stability, high-quality tenancy, and transparent communication with shareholders.

Long-term, triple-net lease agreements with anchor tenants

Urban Edge Properties structures its relationships with major tenants around long-term commitments, which is standard for a triple-net lease (NNN) structure where the tenant handles most property operating expenses. The focus is clearly on maintaining high anchor occupancy, which provides stability to the entire shopping center ecosystem. As of Q2 2025, anchor occupancy stood at 97.4%, showing strong commitment from these key partners. The company has a history of owning properties where they only hold a long-term leasehold or similar interest, meaning lease continuity is paramount to asset value. Furthermore, the leasing strategy actively addresses anchor vacancies; for instance, in Q3 2025, leasing activity included anchor leases with HomeGoods and Ross, helping to backfill spaces.

Dedicated property management for tenant retention and satisfaction

The operational side of customer relationship management centers on property management and tenant retention. Urban Edge Properties aims for high retention, evidenced by a 95% tenant retention rate reported in Q1 2025. This operational success feeds directly into occupancy metrics. By Q3 2025, the shop occupancy rate held steady at a high of 92.5%, following a record high of 92.5% in Q2 2025. The overall same-property portfolio leased occupancy was 96.6% as of September 30, 2025. These figures suggest property management is effectively maintaining the physical assets and tenant environments within their densely populated markets in the Washington, D.C. to Boston corridor.

Proactive investor relations for a REIT structure

As a Real Estate Investment Trust (REIT), the relationship with the investment community is a primary customer focus. Urban Edge Properties communicates its financial health and future outlook clearly. As of Q2 2025, the company reported a market capitalization of $2.59 billion and an attractive dividend yield of 3.88%. Management has shown confidence by raising its 2025 FFO as adjusted guidance by $0.01 per share at the midpoint to a new range of $1.42 to $1.44 per share, representing 6% growth over 2024 at the midpoint. Furthermore, the balance sheet strength supports this relationship, with total liquidity around $800 million reported in Q2 2025. The net debt to annualized EBITDA ratio was 5.5x in Q2 2025.

Leasing teams focused on securing high-quality, diverse tenants

The leasing teams are tasked with ensuring the tenant base is both high-quality and diverse, which mitigates risk. Urban Edge Properties maintains a strong tenant mix, with 95% of tenants being national or regional names as of Q2 2025. The leasing execution is generating significant rent growth. Year-to-date through Q3 2025, leasing spreads averaged 40% on new leases and nearly 10% on renewals. This focus on high-value leasing is also reflected in the pipeline of future revenue. As of September 30, 2025, signed leases that have not yet commenced rent are projected to generate an additional $21.5 million in future annual gross rent, which is approximately 7% of the current annualized NOI.

Here's a quick look at the recent leasing performance metrics:

Metric	Period/Date	Value
New Leases Cash Spread (Same-Space Basis)	Q1 2025	34.3%
New Leases Cash Spread (Same-Space Basis)	Q2 2025	18.8%
Year-to-Date New Lease Spread	Q3 2025	40%
Q3 2025 New Leases Spread (11 deals)	Q3 2025	61%
Total Leasing Activity (SF)	Q3 2025	347,000 square feet
Signed Not Open (SNO) Future Annual Rent	September 30, 2025	$21.5 million

The relationship with tenants is also strengthened by ongoing investment in the centers themselves. The company completed five redevelopment projects in Q2 2025 and has a current redevelopment pipeline totaling $149 million with a projected yield of 15%. This commitment to improving the physical space is a tangible demonstration of partnership to the existing customer base.

• Focus on essential and daily-need retail categories.
• Portfolio concentrated in supply-constrained urban markets.
• Redevelopment projects are largely pre-leased, limiting risk.
• Capital recycling strategy involves selling non-core assets at a 5% cap rate.
• Acquisitions, like Brighton Mills Shopping Center for $39 million, are grocery-anchored.

Urban Edge Properties (UE) - Canvas Business Model: Channels

You're looking at how Urban Edge Properties (UE) gets its value proposition-high-quality, densely located retail space-to its customers, which are both tenants and capital providers. The channels they use are very direct, which makes sense for a REIT focused on hands-on management in supply-constrained markets.

Direct In-House Leasing Team

Urban Edge Properties relies heavily on its internal team to drive leasing activity across its portfolio. This direct approach helps them maintain control over tenant mix and lease terms. For instance, in the first quarter of 2025, the team executed 434,000 square feet across new leases, renewals, and options. New leases alone accounted for 118,000 square feet in that quarter. You can reach their leasing department directly via the phone number listed as (844) 614-4114. This team is responsible for capturing the value from their signed-but-not-commenced pipeline, which was expected to generate an additional $25.1 million in future annual gross rent as of March 31, 2025.

Investor Relations Website and SEC Filings for Capital Markets

For capital markets communication, the primary channel is the investor relations section of their website, www.uedge.com. This is where they push out all the required regulatory information, like the Form 10-Q filed on July 30, 2025. They also use this site to host webcasts for earnings calls, such as the one for the Third Quarter 2025 results on October 29, 2025. You'll find their latest investor presentations there, including documents from September, July, June, and February of 2025. This transparency supports their stated conservative balance sheet, which reported a net debt to total market capitalization of 34% as of the third quarter of 2025.

Property Management Offices at Each Center

The operational channel involves a physical presence at the assets. Urban Edge Properties maintains property management offices at each of its centers to manage the day-to-day operations and tenant relationships. While the prompt refers to 76 centers, the Q1 2025 reports indicated the portfolio consisted of 74 properties totaling 17.3 million square feet of gross leasable area. This local management structure supports their focus on densely populated, supply-constrained markets along the D.C. to Boston corridor.

Real Estate Brokers for Non-Core Asset Dispositions

When Urban Edge Properties recycles capital by selling non-core assets, they utilize real estate brokers. This is a key part of their capital recycling strategy. For example, year-to-date through the third quarter of 2025, they completed dispositions totaling $66 million. This included the sale of two non-core properties for $41 million in June 2025. These year-to-date sales were executed at a weighted average capitalization rate of 4.9%. To give you context on their recent activity, in 2024, they sold $109 million of non-core assets at a 5.2% capitalization rate.

Here's a quick look at the portfolio and disposition numbers as of late 2025:

Metric	Value/Amount	Period/Context
Properties Owned (Most Recent Count)	74	As of March 31, 2025
Gross Leasable Area (GLA)	17.3 million square feet	As of March 31, 2025
Year-to-Date Dispositions (2025)	$66 million	As of October 29, 2025
Weighted Average Cap Rate on 2025 YTD Dispositions	4.9%	Year-to-Date 2025
Q2 2025 Non-Core Dispositions	$41 million (2 properties)	June 2025
2024 Non-Core Dispositions	$109 million	Full Year 2024
Net Debt to Total Market Capitalization	34%	As of September 30, 2025

The direct leasing team is clearly the engine for their leasing channel, while the investor website serves as the central hub for capital market transparency. The property management structure is decentralized to support the physical assets. Finance: draft 13-week cash view by Friday.

Urban Edge Properties (UE) - Canvas Business Model: Customer Segments

You're looking at the core groups Urban Edge Properties (UE) serves, which directly dictates how they structure their leasing and capital allocation. This isn't just about square footage; it's about the type of commerce that thrives in their specific, supply-constrained urban locations.

National Grocery and Discount Retailers

This segment represents the essential anchors that drive consistent traffic to Urban Edge Properties centers. The company has historically focused on this necessity-based retail, with the portfolio being 80% grocery-anchored at the end of 2024, where grocers averaged $900 in sales per square foot. Anchor occupancy remains high, reported at 97.2% as of the third quarter of 2025, despite a 20 basis point decline from the prior quarter. Leasing activity in Q3 2025 included anchor leases with tenants like HomeGoods and Ross, with new leases generating a 61% spread on those specific deals.

Local and Regional Small Shop Tenants

Small shops are the lifeblood of the center's daily appeal, and their performance is a key indicator of overall center health. As you noted, shop occupancy is a critical metric. As of the second and third quarters of 2025, shop leased occupancy reached a record high of 92.5%. The company is actively working to improve this further, targeting shop occupancy to exceed 93% by the end of 2025. Urban Edge Properties maintains a strong tenant mix, reporting that 95% of tenants are national and regional operators as of Q2 2025.

The leasing momentum shows strong demand across the board:

• Year-to-date leasing spreads on new deals averaged 40% through Q3 2025.
• New leases in Q3 2025 generated an average cash spread of 21%.
• Renewals year-to-date through Q3 2025 averaged nearly 10%.

Institutional and Individual Investors Seeking Dividend Income from a REIT

For investors, Urban Edge Properties is positioned as an income-generating Real Estate Investment Trust (REIT). The company declared a quarterly common dividend of $0.19 per share in November 2025. This followed a 12% dividend increase announced in early 2025, setting the annualized dividend at $0.76 per share. As of Q2 2025, the stock offered an attractive dividend yield of 3.88%. The balance sheet supports this, with net debt to total market capitalization at 34% as of Q3 2025.

Here's a quick look at the financial metrics relevant to investor confidence:

Metric	Value (As of Q2/Q3 2025)	Period/Context
FFO as Adjusted (Q3 2025)	$0.36 per share	Quarterly result
2025 FFO as Adjusted Guidance (Raised)	$1.42 to $1.44 per share	Full-year outlook
Same-Property NOI Growth (Q3 2025)	4.7% year-over-year	Including redevelopment
Total Liquidity	Approximately $800 million	As of Q2 2025

Consumers in Dense, Urban Communities Who Use Necessity-Based Retail

The fundamental customer segment is the population living near the properties. Urban Edge Properties focuses on owning, managing, and acquiring centers in the most densely populated, supply-constrained markets in the country. This focus means the consumer base is characterized by high density and high income potential. For instance, the 3-mile trade area around the Brighton Mills acquisition in the Boston area has 449,000 people with average household incomes of $170,000. The portfolio benefits from a 9K 3-mile population density metric. This demographic profile supports the necessity-based retail model, as these consumers rely on the local centers for daily needs.

Urban Edge Properties (UE) - Canvas Business Model: Cost Structure

Interest and debt expense remains a significant cost component for Urban Edge Properties, reflecting the capital-intensive nature of real estate ownership. For the full-year 2025 outlook, Urban Edge Properties guided for interest and debt expense ranging from $\$78.5$ million to $\$80.5$ million. This is based on their debt structure, which as of June 30, 2025, included mortgages payable of $\$1.53$ billion, with a weighted average term to maturity of $4.3$ years, all fixed rate or hedged.

Recurring General and Administrative (G&A) expenses are managed tightly, with management providing specific guidance. The latest full-year 2025 outlook for recurring G&A expenses is set in a range of $\$34.5$ million to $\$35.5$ million. This figure reflects management's continued efforts to control third-party spending and internal costs, including headcount.

The costs associated with maintaining and enhancing the portfolio are substantial. Urban Edge Properties has active capital projects underway to drive future returns. As of June 30, 2025, the Company reported $\$141.8$ million of active redevelopment projects underway, with estimated remaining costs to complete of $\$76.6$ million. This compares to the Q1 2025 figure where they had $\$156.4$ million in active projects underway with estimated remaining costs of $\$84.8$ million.

To give you a clearer picture of the scale of these costs, here is a snapshot of key financial figures and guidance points for the 2025 fiscal year or the latest reported quarter:

Cost/Expense Category	Financial Figure (2025)	Period/Context
Interest and Debt Expense (Guidance Range)	$\$78.5$ million to $\$80.5$ million	Full Year 2025 Outlook
Recurring General and Administrative (G&A) Expenses (Guidance Range)	$\$34.5$ million to $\$35.5$ million	Full Year 2025 Outlook
Total Operating Expenses	$\$85.67$ million	Quarter Ending September 2025
Active Redevelopment Projects Underway	$\$141.8$ million	As of June 30, 2025
Estimated Remaining Costs for Active Redevelopment	$\$76.6$ million	As of June 30, 2025

Property operating expenses, which include real estate taxes, utilities, and insurance, are generally managed at the property level and factored into the Net Operating Income (NOI) calculation, which is reported separately. The total reported Operating Expenses for the quarter ending September 2025 was $\$85.67$ million.

You should also note the debt maturity schedule impacts refinancing costs. As of June 30, 2025, Urban Edge Properties had limited debt maturities coming due through 2026, aggregating $\$138.3$ million, which represented approximately 9% of outstanding debt. This included one mortgage of $\$23.5$ million maturing in December 2025.

• Debt maturities through 2026: $\$138.3$ million.
• Mortgages payable as of June 30, 2025: $\$1.53$ billion.
• Debt maturing in December 2025: $\$23.5$ million.
• Debt maturing in December 2026: $\$114.8$ million.

Urban Edge Properties (UE) - Canvas Business Model: Revenue Streams

You're looking at the core ways Urban Edge Properties (UE) brings in money, which is pretty standard for a retail Real Estate Investment Trust (REIT), but with a focus on necessity-based centers. The revenue streams are built on long-term leases, operational efficiency, and strategic asset management. Honestly, the primary driver is the rent roll.

Rental income from minimum rents is the bedrock of the Urban Edge Properties model. This is the fixed, contractual rent paid by tenants under their leases, which provides the stability you want to see in a REIT portfolio. While specific minimum rent figures aren't broken out separately from total revenue in the latest filings, the overall health of this stream is reflected in the strong operational metrics.

The company's focus on necessity-based retail, with its portfolio being about 80% grocery-anchored as of early 2025, supports this base rent collection. The projected full-year 2025 revenue, according to analyst estimates, is pegged around $471.87 million. This figure is overwhelmingly composed of these rental payments.

Tenant reimbursement revenue (recoveries) from operating expenses is the second key component. This covers the costs tenants pay back to Urban Edge Properties for property operating expenses, often called NNN (triple net) or operating expense recoveries. The latest results confirm this stream is growing; for the nine months ended September 30, 2025, increases in same-property Net Operating Income (NOI) were driven by rent commencements and higher net recovery revenue.

The third, more variable stream comes from gains on the sale of non-core real estate assets. This is capital recycling-selling properties that no longer fit the core strategy to fund acquisitions or pay down debt. We saw concrete activity here in 2025:

• Year-to-date through the second quarter of 2025, Urban Edge Properties had sold $66 million of assets at a weighted average capitalization rate of 4.9%.
• The sale of two non-core properties closed in June 2025 for $41 million.
• The nine months ended September 30, 2025, included a $49.7 million gain on sale related to three non-core dispositions completed in the second quarter of 2025.
• In the first quarter of 2025, the company sold a portion of its Bergen Town Center East property for $25 million.

Here's a look at how the overall financial picture for 2025 is shaping up, which gives context to the revenue base:

Metric	Financial Number/Projection
Projected Full-Year 2025 Revenue (Analyst Estimate)	$471.87 million
FFO as Adjusted Guidance Midpoint (Full Year 2025)	$1.43 per diluted share
Same-Property NOI Growth Target (Midpoint, 2025)	3.5%
Gross Rents Expected from Signed-but-not-Open Pipeline (2025)	$8 million
Total Dispositions Year-to-Date (as of Q2 2025)	$66 million

The recurring revenue from rents and recoveries is what drives the FFO as Adjusted guidance, which was raised to a range of $1.42 to $1.44 per diluted share for the full year 2025 following strong Q3 results. That's the real story behind the minimum rents. If onboarding takes 14+ days, churn risk rises, but their leasing pipeline is helping offset that. Finance: draft 13-week cash view by Friday.