XML 21 R9.htm IDEA: XBRL DOCUMENT v3.23.3
CONSOLIDATED BALANCE SHEETS - UELP - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Real estate, at cost:    
Land $ 541,961 $ 535,770
Buildings and improvements 2,517,038 2,468,385
Construction in progress 280,341 314,190
Furniture, fixtures and equipment 9,472 8,539
Total 3,348,812 3,326,884
Accumulated depreciation and amortization (842,328) (791,485)
Real estate, net 2,506,484 2,535,399
Operating lease right-of-use assets 57,377 64,161
Cash and cash equivalents 50,793 85,518
Restricted cash 27,131 43,256
Tenant and other receivables 15,823 17,523
Receivable arising from the straight-lining of rents 67,499 64,713
Identified intangible assets, net of accumulated amortization of $46,448 and $40,983, respectively 54,823 62,856
Deferred leasing costs, net of accumulated amortization of $21,928 and $20,107, respectively 27,945 26,799
Prepaid expenses and other assets 73,969 77,207
Total assets 2,881,844 2,977,432
Liabilities:    
Mortgages payable, net 1,643,333 1,691,690
Operating lease liabilities 54,197 59,789
Accounts payable, accrued expenses and other liabilities 90,017 102,519
Identified intangible liabilities, net of accumulated amortization of $45,929 and $40,816, respectively 87,000 93,328
Total liabilities 1,874,547 1,947,326
Commitments and contingencies (Note 10)
Partners’ capital:    
Accumulated other comprehensive income 1,334 629
Accumulated deficit (65,295) (36,104)
Consolidated subsidiaries 14,611 13,906
Total equity 1,007,297 1,030,106
Total liabilities and equity 2,881,844 2,977,432
Urban Edge Properties LP    
Real estate, at cost:    
Land 541,961 535,770
Buildings and improvements 2,517,038 2,468,385
Construction in progress 280,341 314,190
Furniture, fixtures and equipment 9,472 8,539
Total 3,348,812 3,326,884
Accumulated depreciation and amortization (842,328) (791,485)
Real estate, net 2,506,484 2,535,399
Operating lease right-of-use assets 57,377 64,161
Cash and cash equivalents 50,793 85,518
Restricted cash 27,131 43,256
Tenant and other receivables 15,823 17,523
Receivable arising from the straight-lining of rents 67,499 64,713
Identified intangible assets, net of accumulated amortization of $46,448 and $40,983, respectively 54,823 62,856
Deferred leasing costs, net of accumulated amortization of $21,928 and $20,107, respectively 27,945 26,799
Prepaid expenses and other assets 73,969 77,207
Total assets 2,881,844 2,977,432
Liabilities:    
Mortgages payable, net 1,643,333 1,691,690
Operating lease liabilities 54,197 59,789
Accounts payable, accrued expenses and other liabilities 90,017 102,519
Identified intangible liabilities, net of accumulated amortization of $45,929 and $40,816, respectively 87,000 93,328
Total liabilities 1,874,547 1,947,326
Commitments and contingencies (Note 10)
Partners’ capital:    
General partner: 117,639,177 and 117,450,951 units outstanding, respectively 1,014,481 1,012,466
Limited partners: 5,218,642 and 4,713,558 units outstanding, respectively 45,960 41,810
Accumulated other comprehensive income 1,334 629
Accumulated deficit (69,089) (38,705)
Total partners’ capital 992,686 1,016,200
Consolidated subsidiaries 14,611 13,906
Total equity 1,007,297 1,030,106
Total liabilities and equity $ 2,881,844 $ 2,977,432