Urban Edge secures $123.6 million mortgage on Shoppers World property

NEW YORK - Urban Edge Properties (NYSE:UE), a retail REIT with a market capitalization of $2.63 billion and a solid dividend yield of 3.91%, has closed on a $123.6 million interest-only, non-recourse mortgage on a portion of its Shoppers World property in Framingham, Massachusetts, according to a press release statement issued by the company. According to InvestingPro analysis, the company maintains strong financial health with a GOOD overall score.

The four-year Secured Overnight Financing Rate loan was swapped and converted to a fixed interest rate of 5.12%. Urban Edge used part of the proceeds to pay off the $90 million outstanding balance on its line of credit, which had been bearing interest at a rate of 5.48%. This debt management aligns with the company’s strong liquidity position, as InvestingPro data shows liquid assets exceeding short-term obligations with a robust current ratio of 4.45.

Shoppers World is an open-air shopping center in Boston’s suburbs spanning 752,000 square feet. The property is anchored by several TJX Companies stores including T.J. Maxx, Marshalls, HomeSense and Sierra Trading, as well as Best Buy and Nordstrom Rack. Urban Edge acquired the property in October 2023.

"The attractive pricing of this debt is a reflection of the high quality nature of this asset and the surrounding market," said Jeff Olson, Chairman and CEO of Urban Edge Properties.

The company reported that its balance sheet has approximately $900 million of liquidity with only 9% of total indebtedness coming due through 2026.

Urban Edge Properties is a real estate investment trust that focuses on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. The company owns 72 properties totaling 17.1 million square feet of gross leasable area.

In other recent news, Urban Edge Properties reported a substantial earnings beat for the second quarter of 2025. The company’s earnings per share reached $0.46, significantly exceeding the analysts’ forecast of $0.09. However, revenue came in slightly below expectations at $114.08 million. Despite this shortfall in revenue, the strong earnings performance reflects positively on Urban Edge Properties’ operational efficiency and strategic initiatives. These developments have contributed to a positive sentiment among investors. The earnings report highlights the company’s ability to manage costs and optimize its operations effectively. Analyst firms have not provided any recent upgrades or downgrades. The results underscore the company’s resilience in a challenging market environment. Urban Edge Properties continues to focus on maintaining robust financial health and operational excellence.

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