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CONSOLIDATED BALANCE SHEETS - UELP - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Jun. 30, 2023
Dec. 31, 2022
Real estate, at cost:        
Land $ 666,774 $ 635,905    
Buildings and improvements 2,741,636 2,678,076    
Construction in progress 232,690 262,275    
Furniture, fixtures and equipment 10,446 9,923    
Total 3,651,546 3,586,179    
Accumulated depreciation and amortization (864,210) (819,243)    
Real estate, net 2,787,336 2,766,936    
Operating lease right-of-use assets 55,575 56,988    
Cash and cash equivalents 78,615 101,123 $ 48,930 $ 85,518
Restricted cash 22,591 73,125 44,496 43,256
Tenant and other receivables 25,077 14,712    
Receivable arising from the straight-lining of rents 60,159 60,775    
Identified intangible assets, net of accumulated amortization of $58,266 and $51,399, respectively 114,526 113,897    
Deferred leasing costs, net of accumulated amortization of $21,628 and $21,428, respectively 27,223 27,698    
Prepaid expenses and other assets 64,594 64,555    
Total assets 3,235,696 3,279,809    
Liabilities:        
Mortgages payable, net 1,503,030 1,578,110    
Unsecured credit facility 150,000 153,000    
Operating lease liabilities 52,556 53,863    
Accounts payable, accrued expenses and other liabilities 88,523 102,997    
Identified intangible liabilities, net of accumulated amortization of $48,718 and $46,610, respectively 175,837 170,411    
Total liabilities 1,969,946 2,058,381    
Commitments and contingencies (Note 10)    
Partners’ capital:        
Accumulated other comprehensive income 689 460    
Accumulated earnings 130,033 137,113    
Consolidated subsidiaries 15,534 15,383    
Total equity 1,265,750 1,221,428 986,498 1,030,106
Total liabilities and equity 3,235,696 3,279,809    
Urban Edge Properties LP        
Real estate, at cost:        
Land 666,774 635,905    
Buildings and improvements 2,741,636 2,678,076    
Construction in progress 232,690 262,275    
Furniture, fixtures and equipment 10,446 9,923    
Total 3,651,546 3,586,179    
Accumulated depreciation and amortization (864,210) (819,243)    
Real estate, net 2,787,336 2,766,936    
Operating lease right-of-use assets 55,575 56,988    
Cash and cash equivalents 78,615 101,123 48,930 85,518
Restricted cash 22,591 73,125 44,496 43,256
Tenant and other receivables 25,077 14,712    
Receivable arising from the straight-lining of rents 60,159 60,775    
Identified intangible assets, net of accumulated amortization of $58,266 and $51,399, respectively 114,526 113,897    
Deferred leasing costs, net of accumulated amortization of $21,628 and $21,428, respectively 27,223 27,698    
Prepaid expenses and other assets 64,594 64,555    
Total assets 3,235,696 3,279,809    
Liabilities:        
Mortgages payable, net 1,503,030 1,578,110    
Unsecured credit facility 150,000 153,000    
Operating lease liabilities 52,556 53,863    
Accounts payable, accrued expenses and other liabilities 88,523 102,997    
Identified intangible liabilities, net of accumulated amortization of $48,718 and $46,610, respectively 175,837 170,411    
Total liabilities 1,969,946 2,058,381    
Commitments and contingencies (Note 10)    
Partners’ capital:        
General partner: 120,444,011 and 117,652,656 units outstanding, respectively 1,053,402 1,013,117    
Limited partners: 6,722,628 and 5,659,781 units outstanding, respectively 60,516 49,311    
Accumulated other comprehensive income 689 460    
Accumulated earnings 135,609 143,157    
Total partners’ capital 1,250,216 1,206,045    
Consolidated subsidiaries 15,534 15,383    
Total equity 1,265,750 1,221,428 $ 986,498 $ 1,030,106
Total liabilities and equity $ 3,235,696 $ 3,279,809