Urban Edge Properties (UE) 10-Q 2 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 28, 2017
Document Information [Abstract]
Entity Registrant Name	URBAN EDGE PROPERTIES
Entity Central Index Key	1,611,547
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		107,564,687

Consolidated and Combined Balan

Consolidated and Combined Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Real estate, at cost:
Land	$ 522,098	$ 384,217
Buildings and improvements	1,992,386	1,650,054
Construction in progress	123,009	99,236
Furniture, fixtures and equipment	5,591	4,993
Total	2,643,084	2,138,500
Accumulated depreciation and amortization	(568,980)	(541,077)
Real estate, net	2,074,104	1,597,423
Cash and cash equivalents	248,407	131,654
Restricted cash	14,422	8,532
Tenant and other receivables, net of allowance for doubtful accounts of $2,947 and $2,332, respectively	13,299	9,340
Receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of $324 and $261, respectively	85,737	87,695
Identified intangible assets, net of accumulated amortization of $26,140 and $22,361, respectively	94,964	30,875
Deferred leasing costs, net of accumulated amortization of $14,910 and $13,909, respectively	19,771	19,241
Deferred financing costs, net of accumulated amortization of $1,228 and $726, respectively	3,755	1,936
Prepaid expenses and other assets	9,245	17,442
Total assets	2,563,704	1,904,138
Liabilities:
Mortgages payable, net	1,412,397	1,197,513
Identified intangible liabilities, net of accumulated amortization of $60,937 and $72,528, respectively	187,223	146,991
Accounts payable and accrued expenses	63,388	48,842
Other liabilities	16,627	14,675
Total liabilities	1,679,635	1,408,021
Commitments and contingencies
Shareholders’ equity:
Common shares: $0.01 par value; 500,000,000 shares authorized and 107,564,687 and 99,754,900 shares issued and outstanding, respectively	1,075	997
Additional paid-in capital	683,889	488,375
Accumulated deficit	(10,479)	(29,066)
Noncontrolling interests:
Redeemable noncontrolling interests	209,202	35,451
Noncontrolling interest in consolidated subsidiaries	382	360
Partners’ capital:
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	884,069	496,117
Total liabilities and equity	2,563,704	1,904,138
Urban Edge Properties LP
Real estate, at cost:
Land	522,098	384,217
Buildings and improvements	1,992,386	1,650,054
Construction in progress	123,009	99,236
Furniture, fixtures and equipment	5,591	4,993
Total	2,643,084	2,138,500
Accumulated depreciation and amortization	(568,980)	(541,077)
Real estate, net	2,074,104	1,597,423
Cash and cash equivalents	248,407	131,654
Restricted cash	14,422	8,532
Tenant and other receivables, net of allowance for doubtful accounts of $2,947 and $2,332, respectively	13,299	9,340
Receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of $324 and $261, respectively	85,737	87,695
Identified intangible assets, net of accumulated amortization of $26,140 and $22,361, respectively	94,964	30,875
Deferred leasing costs, net of accumulated amortization of $14,910 and $13,909, respectively	19,771	19,241
Deferred financing costs, net of accumulated amortization of $1,228 and $726, respectively	3,755	1,936
Prepaid expenses and other assets	9,245	17,442
Total assets	2,563,704	1,904,138
Liabilities:
Mortgages payable, net	1,412,397	1,197,513
Identified intangible liabilities, net of accumulated amortization of $60,937 and $72,528, respectively	187,223	146,991
Accounts payable and accrued expenses	63,388	48,842
Other liabilities	16,627	14,675
Total liabilities	1,679,635	1,408,021
Commitments and contingencies
Shareholders’ equity:
Accumulated deficit	(10,585)	(30,696)
Noncontrolling interests:
Noncontrolling interest in consolidated subsidiaries	382	360
Partners’ capital:
General partner: 107,564,687 and 99,754,900 units outstanding, respectively	684,964	489,372
Limited partners: 12,830,232 and 6,378,704 units outstanding, respectively	209,308	37,081
Total partners’ capital	883,687	495,757
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	884,069	496,117
Total liabilities and equity	$ 2,563,704	$ 1,904,138

Consolidated and Combined Bala3

Consolidated and Combined Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 2,947	$ 2,332
Allowance for Doubtful Other Receivables, Current	324	261
Accumulated amortization, identified intangible assets	26,140	22,361
Accumulated amortization, deferred leasing costs	14,910	13,909
Accumulated amortization, deferred financing costs	1,228	726
Accumulated amortization, identified intangible liabilities	$ 60,937	$ 72,528
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares, issued (in shares)	107,564,687	99,754,900
Common stock, shares, outstanding (in shares)	107,564,687	99,754,900
Urban Edge Properties LP
Allowance for doubtful accounts	$ 2,947	$ 2,332
Allowance for Doubtful Other Receivables, Current	324	261
Accumulated amortization, identified intangible assets	26,140	22,361
Accumulated amortization, deferred leasing costs	14,910	13,909
Accumulated amortization, deferred financing costs	1,228	726
Accumulated amortization, identified intangible liabilities	$ 60,937	$ 72,528
General Partners, units outstanding (in units)	107,564,687	99,754,900
Limited Partners, units outstanding (in units)	12,830,232	6,378,704

Consolidated and Combined State

Consolidated and Combined Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
REVENUE
Property rentals	$ 64,708	$ 58,683	$ 127,206	$ 117,612
Tenant expense reimbursements	23,881	19,879	47,652	42,386
Income from acquired leasehold interest	0	0	39,215	0
Management and development fees	351	526	830	981
Other income	561	369	662	1,546
Total revenue	89,501	79,457	215,565	162,525
EXPENSES
Depreciation and amortization	23,701	13,558	39,529	27,473
Real estate taxes	14,711	12,723	28,103	25,972
Property operating	11,088	9,840	24,456	22,699
General and administrative	7,709	7,535	15,790	14,255
Real estate impairment loss	303	0	3,467	0
Ground rent	2,436	2,483	5,106	5,021
Transaction costs	132	34	183	84
Provision for doubtful accounts	906	494	1,099	845
Total expenses	60,986	46,667	117,733	96,349
Operating income	28,515	32,790	97,832	66,176
Gain on sale of real estate	0	15,618	0	15,618
Interest income	336	177	463	344
Interest and debt expense	(13,627)	(12,820)	(26,742)	(26,249)
Loss on extinguishment of debt	0	0	(1,274)	0
Income before income taxes	15,224	35,765	70,279	55,889
Income tax benefit (expense)	(304)	306	(624)	(30)
Net income	14,920	36,071	69,655	55,859
Less (net income) loss attributable to noncontrolling interests in:
Operating partnership	(1,326)	(2,201)	(5,464)	(3,355)
Consolidated subsidiaries	(11)	(2)	(22)	2
Net income (loss) attributable to common shareholders	$ 13,583	$ 33,868	$ 64,169	$ 52,506
Earnings per common share - Basic (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Earnings per common share - Diluted (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Weighted average shares outstanding - Basic (in shares)	104,063	99,274	101,863	99,270
Weighted average shares outstanding - Diluted (in shares)	104,260	99,668	111,224	99,592
Urban Edge Properties LP
REVENUE
Property rentals	$ 64,708	$ 58,683	$ 127,206	$ 117,612
Tenant expense reimbursements	23,881	19,879	47,652	42,386
Income from acquired leasehold interest	0	0	39,215	0
Management and development fees	351	526	830	981
Other income	561	369	662	1,546
Total revenue	89,501	79,457	215,565	162,525
EXPENSES
Depreciation and amortization	23,701	13,558	39,529	27,473
Real estate taxes	14,711	12,723	28,103	25,972
Property operating	11,088	9,840	24,456	22,699
General and administrative	7,709	7,535	15,790	14,255
Real estate impairment loss	303	0	3,467	0
Ground rent	2,436	2,483	5,106	5,021
Transaction costs	132	34	183	84
Provision for doubtful accounts	906	494	1,099	845
Total expenses	60,986	46,667	117,733	96,349
Operating income	28,515	32,790	97,832	66,176
Gain on sale of real estate	0	15,618	0	15,618
Interest income	336	177	463	344
Interest and debt expense	(13,627)	(12,820)	(26,742)	(26,249)
Loss on extinguishment of debt	0	0	(1,274)	0
Income before income taxes	15,224	35,765	70,279	55,889
Income tax benefit (expense)	(304)	306	(624)	(30)
Net income	14,920	36,071	69,655	55,859
Less (net income) loss attributable to noncontrolling interests in:
Consolidated subsidiaries	(11)	(2)	(22)	2
Net income (loss) attributable to common shareholders	$ 14,909	$ 36,069	$ 69,633	$ 55,861
Earnings per common share - Basic (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Earnings per common share - Diluted (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Weighted average shares outstanding - Basic (in shares)	113,847	105,372	110,682	105,353
Weighted average shares outstanding - Diluted (in shares)	114,044	106,041	110,870	105,866

Consolidated and Combined Stat5

Consolidated and Combined Statements of Changes in Equity - 6 months ended Jun. 30, 2017 - USD ($) $ in Thousands	Total	Urban Edge Properties LP	Urban Edge Properties LPAccumulated Earnings (Deficit)	Urban Edge Properties LPNCI in Consolidated Subsidiaries	Urban Edge Properties LPGeneral Partner	Urban Edge Properties LPLimited Partners	Common Shares	Additional Paid-In Capital	Accumulated Earnings (Deficit)	Redeemable NCI	NCI in Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2016	99,754,900						99,754,900
Beginning balance at Dec. 31, 2016	$ 496,117	$ 496,117	$ (30,696)	$ 360	$ 489,372	$ 37,081	$ 997	$ 488,375	$ (29,066)	$ 35,451	$ 360
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss) attributable to common shareholders	64,169	69,633	69,633						64,169
Net income attributable to noncontrolling interests	5,486	22		22						5,464	22
Net income attributable to noncontrolling interests		193,516	(186)		193,702
Limited partnership units issued	171,084	171,084				171,084				171,084
Common shares issued (in shares)							7,820,295
Common shares issued	193,516						$ 78	193,624	(186)
Share-based awards retained for taxes (in shares)							(10,508)
Share-based awards withheld for taxes	(287)	(287)			(287)			(287)
Distributions to Partners ($0.44 per unit)		(49,375)	(49,375)
Dividends on common shares ($0.44 per share)									(45,435)
Share-based compensation expense	3,359	3,359	39		2,177	1,143		2,177	39	1,143
Distributions to redeemable NCI ($0.44 per unit)	$ (3,940)									(3,940)
Ending balance (in shares) at Jun. 30, 2017	107,564,687						107,564,687
Ending balance at Jun. 30, 2017	$ 884,069	$ 884,069	$ (10,585)	$ 382	$ 684,964	$ 209,308	$ 1,075	$ 683,889	$ (10,479)	$ 209,202	$ 382

Consolidated and Combined Stat6

Consolidated and Combined Statements of Changes in Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Dividends on common shares (in dollars per share)			$ 0.44
Distributions to redeemable NCI (in dollars per unit)	$ 0.22	$ 0.20	0.44	$ 0.40
Urban Edge Properties LP
Distributions to redeemable NCI (in dollars per unit)			$ (0.44)
Limited Partners | Urban Edge Properties LP
Noncontrolling interest percentage	8.20%		8.20%

Consolidated and Combined Stat7

Consolidated and Combined Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 69,655	$ 55,859
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,440	27,989
Income from acquired leasehold interest	(39,215)	0
Real estate impairment loss	3,467	0
Loss on extinguishment of debt	1,274	0
Amortization of deferred financing costs	1,451	1,382
Amortization of below market leases, net	(4,107)	(3,749)
Straight-lining of rent	520	(225)
Share-based compensation expense	3,359	2,721
Gain on sale of real estate	0	(15,618)
Provision for doubtful accounts	1,099	845
Change in operating assets and liabilities:
Tenant and other receivables	(4,994)	1,425
Deferred leasing costs	(2,047)	0
Prepaid and other assets	1,596	1,425
Accounts payable and accrued expenses	9,953	(6,790)
Other liabilities	1,847	1,454
Net cash provided by operating activities	83,298	66,718
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate additions	(35,994)	(27,545)
Acquisition of real estate	(211,393)	0
Proceeds from sale of operating properties	4,790	19,938
Net cash used in investing activities	(242,597)	(7,607)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(83,845)	(29,699)
Dividends paid to shareholders	(45,435)	(39,589)
Distributions to redeemable noncontrolling interests	(3,940)	(2,474)
Debt issuance costs	(3,567)	0
Taxes withheld for vested restricted shares	(287)	(33)
Proceeds from issuance of common shares	193,516	326
Proceeds from borrowings	225,500	0
Net cash provided by (used in) financing activities	281,942	(71,469)
Net increase (decrease) in cash and cash equivalents and restricted cash	122,643	(12,358)
Cash and cash equivalents and restricted cash at beginning of period	140,186	178,025
Cash and cash equivalents and restricted cash at end of period	262,829	165,667
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest (includes amounts capitalized of $1,946 and $1,631, respectively)	26,051	25,773
Cash payments for income taxes	1,237	1,249
NON-CASH INVESTING AND FINANCING ACTIVITIES
Acquisition of real estate through issuance of OP units	171,084	0
Acquisition of real estate through assumption of debt	69,659	0
Accrued capital expenditures included in accounts payable and accrued expenses	13,344	10,093
Write-off of fully depreciated assets	910	683
Cash and cash equivalents and restricted cash at end of period	140,186	178,025
Urban Edge Properties LP
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	69,655	55,859
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,440	27,989
Income from acquired leasehold interest	(39,215)	0
Real estate impairment loss	3,467	0
Loss on extinguishment of debt	1,274	0
Amortization of deferred financing costs	1,451	1,382
Amortization of below market leases, net	(4,107)	(3,749)
Straight-lining of rent	520	(225)
Share-based compensation expense	3,359	2,721
Gain on sale of real estate	0	(15,618)
Provision for doubtful accounts	1,099	845
Change in operating assets and liabilities:
Tenant and other receivables	(4,994)	1,425
Deferred leasing costs	(2,047)	0
Prepaid and other assets	1,596	1,425
Accounts payable and accrued expenses	9,953	(6,790)
Other liabilities	1,847	1,454
Net cash provided by operating activities	83,298	66,718
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate additions	(35,994)	(27,545)
Acquisition of real estate	(211,393)	0
Proceeds from sale of operating properties	4,790	19,938
Net cash used in investing activities	(242,597)	(7,607)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(83,845)	(29,699)
Distributions to partners	(49,375)	(42,063)
Debt issuance costs	(3,567)	0
Taxes withheld for vested restricted shares	(287)	(33)
Proceeds from issuance of common shares	193,516	326
Proceeds from borrowings	225,500	0
Net cash provided by (used in) financing activities	281,942	(71,469)
Net increase (decrease) in cash and cash equivalents and restricted cash	122,643	(12,358)
Cash and cash equivalents and restricted cash at beginning of period	140,186	178,025
Cash and cash equivalents and restricted cash at end of period	262,829	165,667
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest (includes amounts capitalized of $1,946 and $1,631, respectively)	26,051	25,773
Cash payments for income taxes	1,237	1,249
NON-CASH INVESTING AND FINANCING ACTIVITIES
Acquisition of real estate through issuance of OP units	171,084	0
Acquisition of real estate through assumption of debt	69,659	0
Accrued capital expenditures included in accounts payable and accrued expenses	13,344	10,093
Write-off of fully depreciated assets	910	683
Cash and cash equivalents and restricted cash at end of period	$ 140,186	$ 178,025

Consolidated and Combined Stat8

Consolidated and Combined Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Capitalized interest	$ 1,946	$ 1,631
Urban Edge Properties LP
Capitalized interest	$ 1,946	$ 1,631

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Urban Edge Properties (“UE”, “Urban Edge” or the “Company”) (NYSE: UE) is a Maryland real estate investment trust that owns, manages, acquires, develops, redevelops and operates retail real estate in high barrier-to-entry markets. Urban Edge Properties LP (“UELP” or the “Operating Partnership”) is a Delaware limited partnership formed to serve as the Company’s majority-owned partnership subsidiary and to own, through affiliates, all of the Company’s real estate properties and other assets. Unless the context otherwise requires, references to “we”, “us” and “our” refer to Urban Edge Properties and UELP and their consolidated entities/subsidiaries. The Operating Partnership’s capital includes general and common limited partnership interests in the operating partnership (“OP Units”). As of June 30, 2017 , Urban Edge owned approximately 89.3% of the outstanding common OP Units with the remaining limited OP Units held by Vornado Realty L.P., members of management, our Board of Trustees and contributors of property interests acquired. Urban Edge serves as the sole general partner of the Operating Partnership. The third party unitholders have limited rights over the Operating Partnership such that they do not have characteristics of a controlling financial interest. As such, the Operating Partnership is considered a variable interest entity (“VIE”), and the Company is the primary beneficiary which consolidates it. The Company’s only investment is the Operating Partnership. The VIE’s assets can be used for purposes other than the settlement of the VIE’s obligations and the Company’s partnership interest is considered a majority voting interest. As of June 30, 2017 , our portfolio consisted of 85 shopping centers, four malls and a warehouse park totaling 16.6 million square feet.

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions of Form 10-Q. Certain information and footnote disclosures included in our annual financial statements have been condensed or omitted. In the opinion of management, the consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of the Company and the Operating Partnership and the results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2017. Accordingly, these consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities Exchange Commission (“SEC”). The consolidated balance sheets as of June 30, 2017 and December 31, 2016 reflect the consolidation of wholly-owned subsidiaries and those entities in which we have a controlling financial interest. The consolidated statements of income for the three and six months ended June 30, 2017 and 2016 include the consolidated accounts of the Company and the Operating Partnership. All intercompany transactions have been eliminated in consolidation. Our primary business is the ownership, management, redevelopment, development and operation of retail shopping centers. We do not distinguish our primary business or group our operations on a geographical basis for purposes of measuring performance. We review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. None of our tenants accounted for more than 10% of our revenue or property operating income. We aggregate all of our properties into one reportable segment due to their similarities with regard to the nature and economics of the properties, tenants and operations, as well as long-term average financial performance.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Recently Issued Accounting Literature In May 2017, the FASB issued an update (“ASU 2017-09”) Scope of Modification Accounting , which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting will not apply if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, with early adoption permitted. We expect to adopt the standard beginning January 1, 2018. Once adopted, if we encounter a change to the terms or conditions of any of our share-based payment awards we will evaluate the need to apply modification accounting based on the new guidance. The general treatment for modifications of share-based payment awards is to record the incremental value arising from the change as additional compensation cost. In February 2017, the FASB issued an updated (“ASU 2017-05”) Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, to clarify the scope and accounting for derecognition of nonfinancial assets. ASU 2017-05 eliminated the guidance specific to real estate sales and partial sales. ASU 2017-05 defines “in-substance nonfinancial assets” and includes guidance on partial sales of nonfinancial assets. ASU 2017-05 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. We are evaluating the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued an update (“ASU 2017-01”) Clarifying the Definition of a Business , which changes the definition of a business to exclude acquisitions where substantially all of the fair value of the assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets. While there are various differences between the accounting for an asset acquisition and a business combination, the largest impact is that transaction costs are capitalized for asset acquisitions rather than expensed when they are considered business combinations. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, with early adoption permitted. We elected to early adopt ASU 2017-01 effective January 1, 2017. The adoption of this standard has resulted in asset acquisition classification for the real estate acquisitions closed in the three and six months ended June 30, 2017 , and accordingly, acquisition costs for these acquisitions have been capitalized (refer to Note 4 Acquisitions and Dispositions). In February 2016, the FASB issued an update (“ASU 2016-02”) Leases, which revises the accounting related to lease accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases with terms greater than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The provisions of ASU 2016-02 are effective for fiscal years beginning after December 15, 2018 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. We expect to adopt the standard beginning January 1, 2019. This standard will impact our consolidated financial statements by the recording of right-of-use assets and lease liabilities on our consolidated balance sheets for operating and finance leases where we are the lessee. In addition, leases where we are the lessor that meet the criteria of a finance lease will be amortized using the effective interest method with corresponding charges to interest expense and amortization expense. Leases where we are the lessor that meet the criteria of an operating lease will continue to be amortized on a straight-line basis. Lastly, internal leasing department overhead previously capitalized will be expensed within general and administrative expenses. In May 2014, the FASB issued an update (“ASU 2014-09”) Revenue from Contracts with Customers to ASC Topic 606, which supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. During the year ended December 31, 2016, the FASB issued the following updates to ASC Topic 606 to clarify and/or amend the guidance in ASU 2014-09: (i) ASU 2016-08 Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the implementation guidance on principal versus agent considerations, (ii) ASU 2016-10 Identifying Performance Obligations and Licensing, which clarifies guidance related to identifying performance obligations and licensing implementation guidance and (iii) ASU 2016-12 Narrow-Scope Improvements and Practical Expedients, which amends certain aspects of ASU 2014-09. In August 2015, the FASB issued an update (“ASU 2015-09”) Revenue from Contracts with Customers to ASC Topic 606, which defers the effective date of ASU 2014-09 for all entities by one year. ASU 2015-09 is effective beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted only for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We have commenced the process of adopting ASU 2014-09 for reporting periods beginning after December 15, 2017 using the modified retrospective approach, including evaluating all sources of revenue we expect will be impacted by the adoption of ASU 2014-09. We expect the impact, if any, to be to the presentation of certain lease and non-lease components of revenue from leases (upon the adoption of ASU 2016-02 Leases) and not the total revenue recognized overtime. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they are not relevant to the Company or the Operating Partnership, or they are not expected to have a material impact on our consolidated financial statements.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS During the six months ended June 30, 2017 , we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (1) (in thousands) January 4, 2017 Yonkers Gateway Center Yonkers NY — (2) $ 51,902 January 17, 2017 Shops at Bruckner Bronx NY 114,000 32,269 February 2, 2017 Hudson Mall Jersey City NJ 383,000 44,273 May 24, 2017 Yonkers Gateway Center Yonkers NY 437,000 (2) 101,825 May 24, 2017 The Plaza at Cherry Hill Cherry Hill NJ 413,000 53,535 May 24, 2017 Manchester Plaza Manchester MO 131,000 20,162 May 24, 2017 Millburn Gateway Center Millburn NJ 102,000 45,583 May 24, 2017 21 E Broad St / One Lincoln Plaza Westfield NJ 22,000 10,158 May 25, 2017 The Plaza at Woodbridge Woodbridge NJ 411,000 103,962 Total $ 463,669 (1) Includes $11.3 million of transaction costs incurred since January 1, 2017. (2) On January 4, 2017, we acquired fee and leasehold interests, including the lessor position under an operating lease for the whole property. On May 24, 2017, we purchased the remaining fee and leasehold interests not previously acquired, including the lessee position under the operating lease for the whole property. On January 4, 2017 , we acquired fee and leasehold interests in Yonkers Gateway Center for $51.9 million . Consideration for this purchase consisted of the issuance of $48.8 million in OP units and $2.9 million of cash. The total number of OP units issued was 1.8 million at a value of $27.09 per unit. Transaction costs associated with this acquisition were $0.2 million . On January 17, 2017 , we acquired the leasehold interest in the Shops at Bruckner for $32.3 million , consisting of the assumption of existing debt of $12.6 million and $19.4 million of cash. The property is an 114,000 sf retail center in the Bronx, NY directly across from our 376,000 sf Bruckner Commons shopping center. We own the land under the Shops at Bruckner and had been leasing it to the seller under a ground lease that ran through September 2044. Concurrent with the acquisition, we wrote-off the unamortized intangible liability balance related to the below-market ground lease as well as the existing straight-line receivable balance. As a result, we recognized $39.2 million of income from acquired leasehold interest in the six months ended June 30, 2017 . Transaction costs associated with this acquisition were $0.3 million . On February 2, 2017 , we acquired Hudson Mall, a 383,000 sf retail center in Jersey City, NJ adjacent to our existing Hudson Commons shopping center. Consideration for this purchase consisted of the assumption of the existing debt of $23.8 million and $19.9 million of cash. Transaction costs associated with this acquisition were $0.6 million . On May 24 and 25, 2017, we acquired a portfolio of seven retail assets (the "Portfolio”) comprising 1.5 million sf of gross leasable area, predominantly in the New York City metropolitan area, for $325 million . The Portfolio was privately owned for more than three decades and was 83% leased as of June 30, 2017. Consideration for this purchase consisted of the issuance of $122 million in OP units, the assumption of $33 million of existing mortgage debt, the issuance of $126 million of non-recourse, secured mortgage debt and $44 million of cash. The total number of OP units issued was 4.5 million at a value of $27.02 per unit. Transaction costs associated with this acquisition were $10.2 million . All acquisitions closed during the six months ended June 30, 2017 were accounted for as asset acquisitions in accordance with ASU 2017-01, adopted January 1, 2017. Accordingly, transaction costs incurred since January 1, 2017 related to these transactions were capitalized as part of the asset’s purchase price. The purchase prices for all acquisitions were allocated to the acquired assets and liabilities based on their relative fair values at date of acquisition. The aggregate purchase price of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets Identified intangible liabilities Debt premium Total purchase price (in thousands) Yonkers Gateway Center $ 40,699 $ — $ 25,858 $ (14,655 ) $ — $ 51,902 Shops at Bruckner — 32,979 12,029 (12,709 ) (30 ) 32,269 Hudson Mall 15,824 37,593 9,930 (17,344 ) (1,730 ) 44,273 Yonkers Gateway Center 22,642 110,635 38,162 (68,694 ) (920 ) 101,825 The Plaza at Cherry Hill 14,602 33,666 7,800 (2,533 ) — 53,535 Manchester Plaza 4,409 13,756 3,256 (1,259 ) — 20,162 Millburn Gateway Center 15,783 25,387 5,360 (947 ) — 45,583 21 E Broad St / One Lincoln Plaza 5,728 4,305 679 (554 ) — 10,158 The Plaza at Woodbridge 21,547 75,017 11,596 (4,198 ) — 103,962 Total $ 141,234 $ 333,338 $ 114,670 $ (122,893 ) $ (2,680 ) $ 463,669 Dispositions On June 30, 2017, we completed the sale of our property previously classified as held for sale in Eatontown, NJ, for $4.8 million , net of selling costs. Prior to the sale, the book value of this property exceeded its estimated fair value less costs to sell, and as such, an initial impairment charge of $3.2 million was recognized as of March 31, 2017. Our determination of fair value was based on the executed contract of sale with the third-party buyer. We recognized a $0.3 million impairment charge at closing on June 30, 2017, based on the final net sales price. On June 9, 2016, we completed the sale of a shopping center located in Waterbury, CT for $21.6 million , resulting in a gain of $15.6 million . The sale completed the reverse Section 1031 tax deferred exchange transaction with the acquisition of Cross Bay Commons.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS In connection with the separation, the Company and Vornado Realty Trust (“Vornado”) entered into a transition services agreement under which Vornado provided transition services to the Company including human resources, information technology, risk management, tax services and office space and support. The fees charged to us by Vornado for those transition services approximated the actual cost incurred by Vornado in providing such services. On June 28, 2016, the Company executed an amendment to the transition services agreement, extending Vornado’s provision of information technology, risk management services and the portion of the human resources service related to health and benefits through July 31, 2018, unless terminated earlier. Fees for these services remain the same except that they may be adjusted for inflation. As of June 30, 2017 and December 31, 2016, there were no amounts due to Vornado related to such services. During the three and six months ended June 30, 2017 , there were $0.4 million and $0.9 million , respectively, of costs paid to Vornado included in general and administrative expenses, which consisted of $0.2 million and $0.5 million , respectively, of rent expense for two of our office locations and $0.2 million and $0.4 million , respectively, of transition services fees. For the three and six months ended June 30, 2016, there were $0.5 million and $0.9 million , respectively, of costs paid to Vornado included in general and administrative expenses, which consisted of $0.3 million and $0.5 million , respectively, of rent expense for two of our office locations and $0.2 million and $0.4 million of transition services fees, respectively. Management and Development Fees In connection with the separation, the Company and Vornado entered into property management agreements under which the Company provides management, development, leasing and other services to certain properties owned by Vornado and its affiliates, including Interstate Properties (“Interstate”) and Alexander’s, Inc. (NYSE:ALX). Interstate is a general partnership that owns retail properties in which Steven Roth, Chairman of Vornado’s Board and Chief Executive Officer of Vornado, and a member of our Board of Trustees, is the managing general partner. Interstate and its partners beneficially owned an aggregate of approximately 7.1% of the common shares of beneficial interest of Vornado as of December 31, 2016 . As of, and for the three and six months ended June 30, 2017 , Vornado owned 32.4% of Alexander’s, Inc. During the three and six months ended June 30, 2017 , we recognized management and development fee income of $0.3 million and $0.8 million , respectively, and $0.5 million and $1.0 million for the same periods in 2016. As of June 30, 2017 and December 31, 2016 , there were $0.3 million of fees due from Vornado included in tenant and other receivables in our consolidated balance sheets.

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES Our identified intangible assets (acquired in-place and above and below-market leases) and liabilities (acquired below-market leases), net of accumulated amortization were $95.0 million and $187.2 million as of June 30, 2017 , respectively, and $30.9 million and $147.0 million as of December 31, 2016 , respectively. Amortization of acquired below-market leases, net of acquired above-market leases resulted in additional rental income of $2.1 million and $4.1 million and for the three and six months ended June 30, 2017 , respectively, and $1.9 million and $3.8 million for the same periods in 2016 . Amortization of acquired in-place leases and customer relationships resulted in additional depreciation and amortization expense of $2.1 million and $3.1 million for the three and six months ended June 30, 2017 , respectively, and $0.4 million and $0.8 million for the same periods in 2016 . Certain shopping centers were acquired subject to ground leases or ground and building leases. Amortization of these acquired below-market leases resulted in additional rent expense of $0.1 million and $0.5 million for the three and six months ended June 30, 2017 , respectively, and $0.2 million and $0.5 million for the same periods in 2016 . The following table sets forth the estimated annual amortization expense related to intangible assets and liabilities for the five succeeding years commencing January 1, 2018: (Amounts in thousands) Below-Market Above-Market Below-Market Year Operating Lease Income Operating Lease Expense In-Place Leases Ground Leases 2018 $ 12,074 $ 1,574 $ 11,285 $ 972 2019 11,620 1,294 8,592 972 2020 11,453 1,016 7,325 972 2021 11,251 803 6,013 622 2022 10,802 426 4,224 590

MORTGAGES PAYABLE

MORTGAGES PAYABLE	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
MORTGAGES PAYABLE	MORTGAGES PAYABLE The following is a summary of mortgages payable as of June 30, 2017 and December 31, 2016 . Interest Rate at June 30, December 31, (Amounts in thousands) Maturity June 30, 2017 2017 2016 Cross-collateralized mortgage loan: Fixed Rate 9/10/2020 4.38% $ 511,739 $ 519,125 Variable Rate (1) 9/10/2020 2.36% 38,756 38,756 Total cross collateralized 550,495 557,881 First mortgages secured by: Englewood (3) 10/1/2018 6.22% 11,537 11,537 Montehiedra Town Center, Senior Loan (2) 7/6/2021 5.33% 86,658 87,308 Montehiedra Town Center, Junior Loan (2) 7/6/2021 3.00% 30,000 30,000 Plaza at Cherry Hill (8)(10) 5/24/22 2.82% 28,930 — Westfield - One Lincoln (8)(10) 5/24/22 2.82% 4,730 — Plaza at Woodbridge (8)(10) 5/25/22 2.82% 55,340 — Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner (6) 5/1/2023 3.90% 12,443 — Hudson Mall (7) 12/1/2023 5.07% 25,333 — Yonkers Gateway Center (9) 4/6/2024 4.16% 33,967 — Las Catalinas 8/6/2024 4.43% 130,000 130,000 North Bergen (Tonnelle Avenue) (5) 4/1/2027 4.18% 100,000 73,951 Manchester Plaza (10) 6/1/2027 4.32% 12,500 — Millburn Gateway Center (10) 6/1/2027 3.97% 24,000 — Mount Kisco (Target) (4) 11/15/2034 6.40% 14,672 14,883 Total mortgages payable 1,420,605 1,205,560 Unamortized debt issuance costs (8,208 ) (8,047 ) Total mortgages payable, net of unamortized debt issuance costs $ 1,412,397 $ 1,197,513 (1) Subject to a LIBOR floor of 1.00% , bears interest at LIBOR plus 136 bps . (2) As part of the planned redevelopment of Montehiedra Town Center, we committed to fund $20.0 million for leasing and capital expenditures of which $19.3 million has been funded as of June 30, 2017 . (3) On March 30, 2015, we notified the lender that due to tenants vacating, the property’s operating cash flow would be insufficient to pay its debt service. As of June 30, 2017 , we were in default and the property was transferred to receivership. Urban Edge no longer manages the property but will remain its title owner until the receiver disposes of the property. We have determined this property is held in a VIE for which we are the primary beneficiary. Accordingly, as of June 30, 2017 , we consolidated Englewood and its operations. The consolidated balance sheet included total assets and liabilities of $12.4 million and $14.5 million , respectively. (4) The mortgage payable balance on the loan secured by Mount Kisco (Target) includes $1.1 million of unamortized debt discount as of June 30, 2017 and December 31, 2016 . The effective interest rate including amortization of the debt discount is 7.34% as of June 30, 2017 . (5) On March 29, 2017, we refinanced the $74 million , 4.59% mortgage loan secured by our Tonnelle Commons property in North Bergen, NJ, increasing the principal balance to $100 million at 4.18% with a 10 -year fixed rate mortgage. As a result, we recognized a loss on extinguishment of debt of $1.3 million during the six months ended June 30, 2017 comprised of a $1.2 million prepayment penalty and write-off of $0.1 million of unamortized deferred financing fees on the original loan. (6) On January 17, 2017, we assumed the existing mortgage secured by the Shops at Bruckner in connection with our acquisition of the property’s leasehold interest. (7) On February 2, 2017, we assumed the existing mortgage secured by Hudson Mall in connection with our acquisition of the property. The mortgage payable balance on the loan secured by Hudson Mall includes $1.6 million of unamortized debt premium as of June 30, 2017 . The effective interest rate including amortization of the debt premium is 3.11% as of June 30, 2017 . (8) Bears interest at one month LIBOR plus 160 bps. (9) Reflects the $33 million existing mortgage assumed in connection with the acquisition of Yonkers Gateway Center on May 24, 2017. The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.9 million of unamortized debt premium as of June 30, 2017 . The effective interest rate including amortization of the debt premium is 0.8% as of June 30, 2017 . (10) Reflects a portion of the $126 million non-recourse, secured debt issued to fund the Portfolio acquisition closed on May 24 and 25, 2017. Refer to Note 4 Acquisitions and Dispositions for further information. The net carrying amount of real estate collateralizing the above indebtedness amounted to approximately $1.3 billion as of June 30, 2017 . Our mortgage loans contain covenants that limit our ability to incur additional indebtedness on these properties and in certain circumstances require lender approval of tenant leases and/or yield maintenance upon repayment prior to maturity. As of June 30, 2017 , we were in compliance with all debt covenants. As of June 30, 2017 , the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2017 (1) $ 9,647 2018 29,761 2019 20,397 2020 517,327 2021 123,003 2022 96,748 Thereafter 623,722 (1) Remainder of 2017. On January 15, 2015 , we entered into a $500 million Revolving Credit Agreement (the “Agreement”) with certain financial institutions. On March 7, 2017 , we amended and extended the Agreement. The amendment increased the credit facility size by $100 million to $600 million and extended the maturity date to March 7, 2021 with two six -month extension options. Borrowings under the Agreement are subject to interest at LIBOR plus 1.15% and we are required to pay an annual facility fee of 20 basis points which is expensed within interest and debt expense as incurred. Both the spread over LIBOR and the facility fee are based on our current leverage ratio and are subject to increase if our leverage ratio increases above predefined thresholds. The Agreement contains customary financial covenants including a maximum leverage ratio of 60% and a minimum fixed charge coverage ratio of 1.5x . No amounts have been drawn to date under the Agreement. Financing fees associated with the Agreement of $3.8 million and $1.9 million as of June 30, 2017 and December 31, 2016, respectively, are included in deferred financing fees in the consolidated balance sheets.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company has elected to qualify as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended, commencing with the filing of our tax return for the 2015 fiscal year. Under those sections, a REIT, that distributes at least 90% of its REIT taxable income as a dividend to its shareholders each year and which meets certain other conditions, will not be taxed on that portion of its taxable income which is distributed to its shareholders. As a REIT, we generally will not be subject to federal income taxes, provided that we distribute 100% of taxable income. It is our intention to adhere to the organizational and operational requirements to maintain our REIT status. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates (including any alternative minimum tax) and may not be able to qualify as a REIT for the four subsequent taxable years. The REIT and the other minority members are partners in the Operating Partnership. As such, the partners are required to report their share of taxable income on their tax returns. We are also subject to certain other taxes, including state and local taxes and franchise taxes which are included in general and administrative expenses in the consolidated statements of income. Our two Puerto Rico malls are subject to a 29% non-resident withholding tax which is included in income tax expense in the consolidated statements of income. The Puerto Rico tax expense recorded was $0.6 million and $30.0 thousand for the six months ended June 30, 2017 and 2016 , respectively, and $0.3 million for the quarter ended June 30, 2017 . There was a $0.3 million income tax benefit recorded for the quarter ended June 30, 2016. Both properties are held in a special partnership for Puerto Rico tax reporting (the general partner being a qualified REIT subsidiary or “QRS”).

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurement and Disclosures defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis There were no financial assets or liabilities measured at fair value on a recurring basis as of June 30, 2017 and December 31, 2016 . Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis There were no financial assets or liabilities measured at fair value on a non-recurring basis as of June 30, 2017 and December 31, 2016 . Financial Assets and Liabilities not Measured at Fair Value Financial assets and liabilities that are not measured at fair value on the consolidated balance sheets include cash and cash equivalents and mortgages payable. Cash and cash equivalents are carried at cost, which approximates fair value. The fair value of mortgages payable is calculated by discounting the future contractual cash flows of these instruments using current risk-adjusted rates available to borrowers with similar credit ratings, which are provided by a third-party specialist. The fair value of cash and cash equivalents is classified as Level 1 and the fair value of mortgages payable is classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2017 and December 31, 2016 . As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 248,407 $ 248,407 $ 131,654 $ 131,654 Liabilities: Mortgages payable (1) $ 1,420,605 $ 1,443,347 $ 1,205,560 $ 1,216,989 (1) Carrying amounts exclude unamortized debt issuance costs of $8.2 million and $8.0 million as of June 30, 2017 and December 31, 2016, respectively. The following interest rates were used by the Company to estimate the fair value of mortgages payable: June 30, 2017 December 31, 2016 Low High Low High Mortgages payable 1.8% 2.2% 2.0% 2.3%

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES There are various legal actions against us in the ordinary course of business. In our opinion, after consultation with legal counsel, the outcome of such matters will not have a material adverse effect on our financial condition, results of operations or cash flows. Loan Commitments: In January 2015, we completed the modification of the $120.0 million , 6.04% mortgage loan secured by Montehiedra Town Center. As part of the planned redevelopment of the property, we committed to fund $20.0 million for leasing and building capital expenditures of which $19.3 million has been funded as of June 30, 2017 . Redevelopment: As of June 30, 2017 , we had approximately $173.7 million of active development, redevelopment and anchor repositioning projects underway of which $94.0 million remains to be funded. Based on current plans and estimates we anticipate the remaining amounts will be expended over the next two years. Insurance We maintain general liability insurance with limits of $200 million for properties in the U.S. and Puerto Rico and all-risk property and rental value insurance coverage with limits of $500 million for properties in the U.S. and $139 million for properties in Puerto Rico, with sub-limits for certain perils such as floods and earthquakes on each of our properties. Our insurance includes coverage for terrorism acts but excludes coverage for nuclear, biological, chemical or radiological terrorism events as defined by the Terrorism Risk Insurance Program Reauthorization Act, which expires in December 2020. In addition, we maintain coverage for cybersecurity with limits of $5 million in the aggregate providing first and third party coverage including network interruption, event management, cyber extortion and claims for media content, security and privacy liability. Insurance premiums are charged directly to each of the retail properties and warehouses. We will be responsible for deductibles and losses in excess of insurance coverage, which could be material. We continue to monitor the state of the insurance market and the scope and costs of coverage for acts of terrorism. However, we cannot anticipate what coverage will be available on commercially reasonable terms in the future. Our mortgage loans are non-recourse and contain customary covenants requiring adequate insurance coverage. Although we believe that we currently have adequate insurance coverage for purposes of these agreements, we may not be able to obtain an equivalent amount of coverage at reasonable costs in the future. If lenders insist on greater coverage than we are able to obtain it could adversely affect our ability to finance our properties and expand our portfolio. Environmental Matters Each of our properties has been subjected to varying degrees of environmental assessment at various times. Based on these assessments and the projected remediation costs, we have accrued costs of $1.4 million on our consolidated balance sheets for potential remediation costs for environmental contamination at two properties. While this accrual reflects our best estimates of the potential costs of remediation at these properties, $0.1 million has currently been expended and there can be no assurance that the actual costs will not exceed this amount. With respect to our other properties, the environmental assessments did not reveal any material environmental contamination. However, there can be no assurance that the identification of new areas of contamination, changes in the extent or known scope of contamination, the discovery of additional sites, or changes in cleanup requirements would not result in significant costs to us.

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2017 December 31, 2016 Other assets $ 2,301 $ 2,161 Deposits for acquisitions — 6,600 Prepaid expenses: Real estate taxes 3,822 5,198 Insurance 1,622 2,545 Rent, licenses/fees 1,500 938 Total Prepaid expenses and other assets $ 9,245 $ 17,442

OTHER LIABILITIES

OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES	OTHER LIABILITIES The following is a summary of the composition of other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2017 December 31, 2016 Deferred ground rent expense $ 6,392 $ 6,284 Deferred tax liability, net 3,859 3,802 Deferred tenant revenue 4,743 3,280 Environmental remediation costs 1,232 1,309 Other liabilities 401 — Total Other liabilities $ 16,627 $ 14,675

INTEREST AND DEBT EXPENSE

INTEREST AND DEBT EXPENSE	6 Months Ended
	Jun. 30, 2017
Other Income and Expenses [Abstract]
INTEREST AND DEBT EXPENSE	13. INTEREST AND DEBT EXPENSE The following table sets forth the details of interest and debt expense: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Interest expense $ 13,040 $ 12,097 $ 25,291 $ 24,867 Amortization of deferred financing costs 587 723 1,451 1,382 Total Interest and debt expense $ 13,627 $ 12,820 $ 26,742 $ 26,249

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	6 Months Ended
	Jun. 30, 2017
Noncontrolling Interest [Abstract]
EQUITY AND NONCONTROLLING INTEREST	NONCONTROLLING INTEREST At-The-Market Program In 2016, the Company established an at-the-market (“ATM”) equity program, pursuant to which the Company may offer and sell from time to time its common shares, par value $0.01 per share, with an aggregate gross sales price of up to $250.0 million through a consortium of broker dealers acting as sales agents. As of June 30, 2017, $241.3 million of common shares remained available for issuance under this ATM equity program. During the six months ended June 30, 2017 and 2016, there were no common shares issued under this ATM equity program. Actual future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common shares and our capital needs. We have no obligation to sell the remaining shares available under the active ATM equity program. Underwritten Public Offering On May 10, 2017, the Company issued 7.7 million common shares of beneficial interest in an underwritten public offering pursuant to the Company’s effective shelf registration statement previously filed on Form S-3 with the SEC on August 5, 2016. This offering generated cash proceeds of $193.5 million , net of $1.3 million of issuance costs. Units of the Operating Partnership The Operating Partnership issued 1.8 million OP units in connection with the acquisition of Yonkers Gateway Center on January 4, 2017 , at a value of $27.09 per unit. On May 24 and 25, 2017, the Operating Partnership issued 2.6 million OP units and 1.9 million OP units, respectively, in connection with the Portfolio acquisition at a value of $27.02 per unit (refer to Note 4 Acquisitions and Dispositions). Dividends and Distributions During the three months ended June 30, 2017 and 2016, the Company declared dividends on our common shares and OP unit distributions of $0.22 and $0.20 per share/unit, respectively. During the six months ended June 30, 2017 and 2016 , the Company declared common stock dividends and OP unit distributions of $0.44 and $0.40 per share/unit, respectively. Redeemable Noncontrolling Interests Redeemable noncontrolling interests reflected on the consolidated balance sheets of the Company are comprised of OP units and limited partnership interests in the Operating Partnership in the form of LTIP unit awards. In connection with the separation, the Company issued 5.7 million OP units, representing a 5.4% interest in the Operating Partnership to VRLP in exchange for interests in VRLP properties contributed by VRLP. LTIP unit awards were granted to certain executives pursuant to our 2015 Omnibus Share Plan (the “Omnibus Share Plan”). OP units were issued to contributors in exchange for their property interests in connection with the Company’s acquisition of Yonkers Gateway Center and the Portfolio acquisition. The total of the OP units and LTIP units represent an 8.9% and 8.2% weighted-average interest in the Operating Partnership for the three and six months ended June 30, 2017 , respectively. Holders of outstanding vested LTIP units may, from and after two years from the date of issuance, redeem their LTIP units for cash, or for the Company’s common shares on a one -for-one basis, solely at our election. Holders of outstanding OP units may, at a determinable date, redeem their units for cash or the Company’s common shares on a one -for-one basis, solely at our election. Noncontrolling Interest The noncontrolling interest relates to the 5% interest held by others in our property in Walnut Creek, CA (Mount Diablo). The net income attributable to noncontrolling interest is presented separately in our consolidated statements of income.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION 2017 Outperformance Plan On February 24, 2017 , the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2017 Outperformance Plan (“2017 OPP”), a multi-year performance-based equity compensation program. Under the 2017 OPP, participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units if, and only if, we outperform a predetermined total shareholder return (“TSR”) and/or outperform the market with respect to a relative TSR in any year during the requisite performance periods as described below. The aggregate notional amount of the 2017 OPP grant is $12.0 million . Awards under the 2017 OPP may be earned if we (i) achieve a TSR level greater than 7% per annum, or 21% over the three -year performance measurement period, and/or (ii) achieve a TSR equal to or above, that of the 50 th percentile of a retail REIT peer group comprised of 14 of our peer companies, over a three -year performance measurement period. Distributions on awards accrue during the measurement period, except that 10% of such distributions are paid in cash. If the designated performance objectives are achieved, LTIP units are also subject to time-based vesting requirements. Awards earned under the 2017 OPP vest 50% in year three, 25% in year four and 25% in year five. The fair value of the 2017 OPP on the date of grant was $4.1 million using a Monte Carlo simulation to estimate the fair value based on the probability of satisfying the market conditions and the projected share price at the time of payment, discounted to the valuated date over a three -year performance period. Assumptions include historic volatility ( 19.7% ), risk-free interest rates ( 1.5% ), and historic daily return as compared to our Peer Group. Such amount is being amortized into expense over a five -year period from the date of grant, using a graded vesting attribution model. Share-Based Compensation Expense Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Share-based compensation expense components: Restricted share expense $ 518 $ 383 $ 908 $ 616 Stock option expense 646 653 1,269 1,229 LTIP expense 147 100 263 283 Outperformance Plan (“OPP”) expense 564 288 919 593 Total Share-based compensation expense $ 1,875 $ 1,424 $ 3,359 $ 2,721

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE AND UNIT Urban Edge Earnings per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of Urban Edge common shares and participating securities is calculated according to dividends declared and participating rights in undistributed earnings. Restricted shares issued pursuant to our share-based compensation program are considered participating securities, and as such have non-forfeitable rights to receive dividends. The following table sets forth the computation of our basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income attributable to common shareholders $ 13,583 $ 33,868 $ 64,169 $ 52,506 Less: Earnings allocated to unvested participating securities (39 ) (43 ) (107 ) (61 ) Net income available for common shareholders - basic $ 13,544 $ 33,825 $ 64,062 $ 52,445 Impact of assumed conversions: OP and LTIP units — — 5,463 — Net income available for common shareholders - dilutive $ 13,544 $ 33,825 $ 69,525 $ 52,445 Denominator: Weighted average common shares outstanding - basic 104,063 99,274 101,863 99,270 Effect of dilutive securities (1) : Stock options using the treasury stock method 21 272 30 157 Restricted share awards 176 122 158 98 Assumed conversion of OP and LTIP units — — 9,173 67 Weighted average common shares outstanding - diluted 104,260 99,668 111,224 99,592 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.13 $ 0.34 $ 0.63 $ 0.53 Earnings per common share - Diluted $ 0.13 $ 0.34 $ 0.63 $ 0.53 (1) For the three and six months ended June 30, 2016 and the three months ended June 30, 2017 the effect of the redemption of OP and LTIP units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods. Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per unit amounts) 2017 2016 2017 2016 Numerator: Net income attributable to unitholders $ 14,909 $ 36,069 $ 69,633 $ 55,861 Less: net income attributable to participating securities (39 ) (45 ) (104 ) (64 ) Net income available for unitholders $ 14,870 $ 36,024 $ 69,529 $ 55,797 Denominator: Weighted average units outstanding - basic 113,847 105,372 110,682 105,353 Effect of dilutive securities issued by Urban Edge 197 394 188 255 Unvested LTIP units — 275 — 258 Weighted average units outstanding - diluted 114,044 106,041 110,870 105,866 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.13 $ 0.34 $ 0.63 $ 0.53 Earnings per unit - Diluted $ 0.13 $ 0.34 $ 0.63 $ 0.53

SUBSEQUENT EVENT (Notes)

SUBSEQUENT EVENT (Notes)	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Pursuant to the Subsequent Events Topic of the FASB ASC, we have evaluated subsequent events and transactions that occurred after our June 30, 2017 consolidated balance sheet date for potential recognition or disclosure in our consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Accounting	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions of Form 10-Q. Certain information and footnote disclosures included in our annual financial statements have been condensed or omitted. In the opinion of management, the consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of the Company and the Operating Partnership and the results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2017. Accordingly, these consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2016, as filed with the Securities Exchange Commission (“SEC”).
Consolidation and Noncontrolling Interests	The consolidated balance sheets as of June 30, 2017 and December 31, 2016 reflect the consolidation of wholly-owned subsidiaries and those entities in which we have a controlling financial interest. The consolidated statements of income for the three and six months ended June 30, 2017 and 2016 include the consolidated accounts of the Company and the Operating Partnership. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Recently Issued Accounting Literature	Recently Issued Accounting Literature In May 2017, the FASB issued an update (“ASU 2017-09”) Scope of Modification Accounting , which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting will not apply if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. ASU 2017-09 is effective for annual periods beginning after December 15, 2017, with early adoption permitted. We expect to adopt the standard beginning January 1, 2018. Once adopted, if we encounter a change to the terms or conditions of any of our share-based payment awards we will evaluate the need to apply modification accounting based on the new guidance. The general treatment for modifications of share-based payment awards is to record the incremental value arising from the change as additional compensation cost. In February 2017, the FASB issued an updated (“ASU 2017-05”) Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets, to clarify the scope and accounting for derecognition of nonfinancial assets. ASU 2017-05 eliminated the guidance specific to real estate sales and partial sales. ASU 2017-05 defines “in-substance nonfinancial assets” and includes guidance on partial sales of nonfinancial assets. ASU 2017-05 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2017, with early adoption permitted. We are evaluating the impact this standard will have on our consolidated financial statements. In January 2017, the FASB issued an update (“ASU 2017-01”) Clarifying the Definition of a Business , which changes the definition of a business to exclude acquisitions where substantially all of the fair value of the assets acquired are concentrated in a single identifiable asset or a group of similar identifiable assets. While there are various differences between the accounting for an asset acquisition and a business combination, the largest impact is that transaction costs are capitalized for asset acquisitions rather than expensed when they are considered business combinations. ASU 2017-01 is effective for annual periods beginning after December 15, 2017, with early adoption permitted. We elected to early adopt ASU 2017-01 effective January 1, 2017. The adoption of this standard has resulted in asset acquisition classification for the real estate acquisitions closed in the three and six months ended June 30, 2017 , and accordingly, acquisition costs for these acquisitions have been capitalized (refer to Note 4 Acquisitions and Dispositions). In February 2016, the FASB issued an update (“ASU 2016-02”) Leases, which revises the accounting related to lease accounting. Under the new guidance, lessees will be required to recognize a lease liability and a right-of-use asset for all leases with terms greater than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The provisions of ASU 2016-02 are effective for fiscal years beginning after December 15, 2018 and should be applied through a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. Early adoption is permitted. We expect to adopt the standard beginning January 1, 2019. This standard will impact our consolidated financial statements by the recording of right-of-use assets and lease liabilities on our consolidated balance sheets for operating and finance leases where we are the lessee. In addition, leases where we are the lessor that meet the criteria of a finance lease will be amortized using the effective interest method with corresponding charges to interest expense and amortization expense. Leases where we are the lessor that meet the criteria of an operating lease will continue to be amortized on a straight-line basis. Lastly, internal leasing department overhead previously capitalized will be expensed within general and administrative expenses. In May 2014, the FASB issued an update (“ASU 2014-09”) Revenue from Contracts with Customers to ASC Topic 606, which supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition. ASU 2014-09 requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. During the year ended December 31, 2016, the FASB issued the following updates to ASC Topic 606 to clarify and/or amend the guidance in ASU 2014-09: (i) ASU 2016-08 Principal versus Agent Considerations (Reporting Revenue Gross versus Net), which clarifies the implementation guidance on principal versus agent considerations, (ii) ASU 2016-10 Identifying Performance Obligations and Licensing, which clarifies guidance related to identifying performance obligations and licensing implementation guidance and (iii) ASU 2016-12 Narrow-Scope Improvements and Practical Expedients, which amends certain aspects of ASU 2014-09. In August 2015, the FASB issued an update (“ASU 2015-09”) Revenue from Contracts with Customers to ASC Topic 606, which defers the effective date of ASU 2014-09 for all entities by one year. ASU 2015-09 is effective beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted only for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. We have commenced the process of adopting ASU 2014-09 for reporting periods beginning after December 15, 2017 using the modified retrospective approach, including evaluating all sources of revenue we expect will be impacted by the adoption of ASU 2014-09. We expect the impact, if any, to be to the presentation of certain lease and non-lease components of revenue from leases (upon the adoption of ASU 2016-02 Leases) and not the total revenue recognized overtime. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they are not relevant to the Company or the Operating Partnership, or they are not expected to have a material impact on our consolidated financial statements.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of Closed Acquisitions	During the six months ended June 30, 2017 , we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (1) (in thousands) January 4, 2017 Yonkers Gateway Center Yonkers NY — (2) $ 51,902 January 17, 2017 Shops at Bruckner Bronx NY 114,000 32,269 February 2, 2017 Hudson Mall Jersey City NJ 383,000 44,273 May 24, 2017 Yonkers Gateway Center Yonkers NY 437,000 (2) 101,825 May 24, 2017 The Plaza at Cherry Hill Cherry Hill NJ 413,000 53,535 May 24, 2017 Manchester Plaza Manchester MO 131,000 20,162 May 24, 2017 Millburn Gateway Center Millburn NJ 102,000 45,583 May 24, 2017 21 E Broad St / One Lincoln Plaza Westfield NJ 22,000 10,158 May 25, 2017 The Plaza at Woodbridge Woodbridge NJ 411,000 103,962 Total $ 463,669 (1) Includes $11.3 million of transaction costs incurred since January 1, 2017. (2) On January 4, 2017, we acquired fee and leasehold interests, including the lessor position under an operating lease for the whole property. On May 24, 2017, we purchased the remaining fee and leasehold interests not previously acquired, including the lessee position under the operating lease for the whole property.
Schedule of Aggregate Purchase Price Allocations	The aggregate purchase price of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets Identified intangible liabilities Debt premium Total purchase price (in thousands) Yonkers Gateway Center $ 40,699 $ — $ 25,858 $ (14,655 ) $ — $ 51,902 Shops at Bruckner — 32,979 12,029 (12,709 ) (30 ) 32,269 Hudson Mall 15,824 37,593 9,930 (17,344 ) (1,730 ) 44,273 Yonkers Gateway Center 22,642 110,635 38,162 (68,694 ) (920 ) 101,825 The Plaza at Cherry Hill 14,602 33,666 7,800 (2,533 ) — 53,535 Manchester Plaza 4,409 13,756 3,256 (1,259 ) — 20,162 Millburn Gateway Center 15,783 25,387 5,360 (947 ) — 45,583 21 E Broad St / One Lincoln Plaza 5,728 4,305 679 (554 ) — 10,158 The Plaza at Woodbridge 21,547 75,017 11,596 (4,198 ) — 103,962 Total $ 141,234 $ 333,338 $ 114,670 $ (122,893 ) $ (2,680 ) $ 463,669

IDENTIFIED INTANGIBLE ASSETS 28

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of estimated annual amortization expense	The following table sets forth the estimated annual amortization expense related to intangible assets and liabilities for the five succeeding years commencing January 1, 2018: (Amounts in thousands) Below-Market Above-Market Below-Market Year Operating Lease Income Operating Lease Expense In-Place Leases Ground Leases 2018 $ 12,074 $ 1,574 $ 11,285 $ 972 2019 11,620 1,294 8,592 972 2020 11,453 1,016 7,325 972 2021 11,251 803 6,013 622 2022 10,802 426 4,224 590

MORTGAGES PAYABLE (Tables)

MORTGAGES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of mortgages payable	The following is a summary of mortgages payable as of June 30, 2017 and December 31, 2016 . Interest Rate at June 30, December 31, (Amounts in thousands) Maturity June 30, 2017 2017 2016 Cross-collateralized mortgage loan: Fixed Rate 9/10/2020 4.38% $ 511,739 $ 519,125 Variable Rate (1) 9/10/2020 2.36% 38,756 38,756 Total cross collateralized 550,495 557,881 First mortgages secured by: Englewood (3) 10/1/2018 6.22% 11,537 11,537 Montehiedra Town Center, Senior Loan (2) 7/6/2021 5.33% 86,658 87,308 Montehiedra Town Center, Junior Loan (2) 7/6/2021 3.00% 30,000 30,000 Plaza at Cherry Hill (8)(10) 5/24/22 2.82% 28,930 — Westfield - One Lincoln (8)(10) 5/24/22 2.82% 4,730 — Plaza at Woodbridge (8)(10) 5/25/22 2.82% 55,340 — Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner (6) 5/1/2023 3.90% 12,443 — Hudson Mall (7) 12/1/2023 5.07% 25,333 — Yonkers Gateway Center (9) 4/6/2024 4.16% 33,967 — Las Catalinas 8/6/2024 4.43% 130,000 130,000 North Bergen (Tonnelle Avenue) (5) 4/1/2027 4.18% 100,000 73,951 Manchester Plaza (10) 6/1/2027 4.32% 12,500 — Millburn Gateway Center (10) 6/1/2027 3.97% 24,000 — Mount Kisco (Target) (4) 11/15/2034 6.40% 14,672 14,883 Total mortgages payable 1,420,605 1,205,560 Unamortized debt issuance costs (8,208 ) (8,047 ) Total mortgages payable, net of unamortized debt issuance costs $ 1,412,397 $ 1,197,513 (1) Subject to a LIBOR floor of 1.00% , bears interest at LIBOR plus 136 bps . (2) As part of the planned redevelopment of Montehiedra Town Center, we committed to fund $20.0 million for leasing and capital expenditures of which $19.3 million has been funded as of June 30, 2017 . (3) On March 30, 2015, we notified the lender that due to tenants vacating, the property’s operating cash flow would be insufficient to pay its debt service. As of June 30, 2017 , we were in default and the property was transferred to receivership. Urban Edge no longer manages the property but will remain its title owner until the receiver disposes of the property. We have determined this property is held in a VIE for which we are the primary beneficiary. Accordingly, as of June 30, 2017 , we consolidated Englewood and its operations. The consolidated balance sheet included total assets and liabilities of $12.4 million and $14.5 million , respectively. (4) The mortgage payable balance on the loan secured by Mount Kisco (Target) includes $1.1 million of unamortized debt discount as of June 30, 2017 and December 31, 2016 . The effective interest rate including amortization of the debt discount is 7.34% as of June 30, 2017 . (5) On March 29, 2017, we refinanced the $74 million , 4.59% mortgage loan secured by our Tonnelle Commons property in North Bergen, NJ, increasing the principal balance to $100 million at 4.18% with a 10 -year fixed rate mortgage. As a result, we recognized a loss on extinguishment of debt of $1.3 million during the six months ended June 30, 2017 comprised of a $1.2 million prepayment penalty and write-off of $0.1 million of unamortized deferred financing fees on the original loan. (6) On January 17, 2017, we assumed the existing mortgage secured by the Shops at Bruckner in connection with our acquisition of the property’s leasehold interest. (7) On February 2, 2017, we assumed the existing mortgage secured by Hudson Mall in connection with our acquisition of the property. The mortgage payable balance on the loan secured by Hudson Mall includes $1.6 million of unamortized debt premium as of June 30, 2017 . The effective interest rate including amortization of the debt premium is 3.11% as of June 30, 2017 . (8) Bears interest at one month LIBOR plus 160 bps. (9) Reflects the $33 million existing mortgage assumed in connection with the acquisition of Yonkers Gateway Center on May 24, 2017. The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.9 million of unamortized debt premium as of June 30, 2017 . The effective interest rate including amortization of the debt premium is 0.8% as of June 30, 2017 . (10) Reflects a portion of the $126 million non-recourse, secured debt issued to fund the Portfolio acquisition closed on May 24 and 25, 2017. Refer to Note 4 Acquisitions and Dispositions for further information. The
Schedule of principal repayments	f June 30, 2017 , the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2017 (1) $ 9,647 2018 29,761 2019 20,397 2020 517,327 2021 123,003 2022 96,748 Thereafter 623,722 (1)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of financial instrument carrying amounts and fair values	The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2017 and December 31, 2016 . As of June 30, 2017 As of December 31, 2016 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 248,407 $ 248,407 $ 131,654 $ 131,654 Liabilities: Mortgages payable (1) $ 1,420,605 $ 1,443,347 $ 1,205,560 $ 1,216,989
Schedule of interest rates used for fair value of mortgages payable	The following interest rates were used by the Company to estimate the fair value of mortgages payable: June 30, 2017 December 31, 2016 Low High Low High Mortgages payable 1.8% 2.2% 2.0% 2.3%

PREPAID EXPENSES AND OTHER AS31

PREPAID EXPENSES AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of the composition of prepaid expenses and other assets	The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2017 December 31, 2016 Other assets $ 2,301 $ 2,161 Deposits for acquisitions — 6,600 Prepaid expenses: Real estate taxes 3,822 5,198 Insurance 1,622 2,545 Rent, licenses/fees 1,500 938 Total Prepaid expenses and other assets $ 9,245 $ 17,442

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
Schedule of the composition of other liabilities	The following is a summary of the composition of other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2017 December 31, 2016 Deferred ground rent expense $ 6,392 $ 6,284 Deferred tax liability, net 3,859 3,802 Deferred tenant revenue 4,743 3,280 Environmental remediation costs 1,232 1,309 Other liabilities 401 — Total Other liabilities $ 16,627 $ 14,675

INTEREST AND DEBT EXPENSE (Tabl

INTEREST AND DEBT EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2017
Other Income and Expenses [Abstract]
Schedule of interest and debt expense	The following table sets forth the details of interest and debt expense: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Interest expense $ 13,040 $ 12,097 $ 25,291 $ 24,867 Amortization of deferred financing costs 587 723 1,451 1,382 Total Interest and debt expense $ 13,627 $ 12,820 $ 26,742 $ 26,249

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of share-based compensation expense	Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2017 2016 2017 2016 Share-based compensation expense components: Restricted share expense $ 518 $ 383 $ 908 $ 616 Stock option expense 646 653 1,269 1,229 LTIP expense 147 100 263 283 Outperformance Plan (“OPP”) expense 564 288 919 593 Total Share-based compensation expense $ 1,875 $ 1,424 $ 3,359 $ 2,721

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per unit: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per unit amounts) 2017 2016 2017 2016 Numerator: Net income attributable to unitholders $ 14,909 $ 36,069 $ 69,633 $ 55,861 Less: net income attributable to participating securities (39 ) (45 ) (104 ) (64 ) Net income available for unitholders $ 14,870 $ 36,024 $ 69,529 $ 55,797 Denominator: Weighted average units outstanding - basic 113,847 105,372 110,682 105,353 Effect of dilutive securities issued by Urban Edge 197 394 188 255 Unvested LTIP units — 275 — 258 Weighted average units outstanding - diluted 114,044 106,041 110,870 105,866 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.13 $ 0.34 $ 0.63 $ 0.53 Earnings per unit - Diluted $ 0.13 $ 0.34 $ 0.63 $ 0.53 Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income attributable to common shareholders $ 13,583 $ 33,868 $ 64,169 $ 52,506 Less: Earnings allocated to unvested participating securities (39 ) (43 ) (107 ) (61 ) Net income available for common shareholders - basic $ 13,544 $ 33,825 $ 64,062 $ 52,445 Impact of assumed conversions: OP and LTIP units — — 5,463 — Net income available for common shareholders - dilutive $ 13,544 $ 33,825 $ 69,525 $ 52,445 Denominator: Weighted average common shares outstanding - basic 104,063 99,274 101,863 99,270 Effect of dilutive securities (1) : Stock options using the treasury stock method 21 272 30 157 Restricted share awards 176 122 158 98 Assumed conversion of OP and LTIP units — — 9,173 67 Weighted average common shares outstanding - diluted 104,260 99,668 111,224 99,592 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.13 $ 0.34 $ 0.63 $ 0.53 Earnings per common share - Diluted $ 0.13 $ 0.34 $ 0.63 $ 0.53 (1) For the three and six months ended June 30, 2016 and the three months ended June 30, 2017 the effect of the redemption of OP and LTIP units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods. Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per unit amounts) 2017 2016 2017 2016 Numerator: Net income attributable to unitholders $ 14,909 $ 36,069 $ 69,633 $ 55,861 Less: net income attributable to participating securities (39 ) (45 ) (104 ) (64 ) Net income available for unitholders $ 14,870 $ 36,024 $ 69,529 $ 55,797 Denominator: Weighted average units outstanding - basic 113,847 105,372 110,682 105,353 Effect of dilutive securities issued by Urban Edge 197 394 188 255 Unvested LTIP units — 275 — 258 Weighted average units outstanding - diluted 114,044 106,041 110,870 105,866 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.13 $ 0.34 $ 0.63 $ 0.53 Earnings per unit - Diluted $ 0.13 $ 0.34 $ 0.63 $ 0.53

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands, ft² in Millions	Jan. 15, 2015	Jun. 30, 2017USD ($)ft²property	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)ft²property	Jun. 30, 2016USD ($)
Real Estate Properties [Line Items]
Area of real estate property (in sq ft) | ft²		16.6		16.6
Noncontrolling interest percentage		8.90%		8.20%
Transaction costs | $		$ 132	$ 34	$ 183	$ 84
Vornado
Real Estate Properties [Line Items]
Noncontrolling interest percentage	5.40%			89.30%
Warehouses
Real Estate Properties [Line Items]
Number of real estate properties		1		1
Wholly owned properties | Shopping Center
Real Estate Properties [Line Items]
Number of real estate properties		85		85
Wholly owned properties | Mall
Real Estate Properties [Line Items]
Number of real estate properties		4		4

BASIS OF PRESENTATION AND PRI37

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION (Details)	6 Months Ended
	Jun. 30, 2017segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Summary of Acquisition Activity (Details) $ in Thousands	Feb. 02, 2017USD ($)ft²	Jan. 17, 2017USD ($)ft²	Jan. 04, 2017USD ($)	Jun. 30, 2017USD ($)ft²	May 25, 2017USD ($)ft²	May 24, 2017USD ($)ft²
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²				376,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net				$ 463,669
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities				122,893
Purchase Price				$ 463,669
Yonkers Gateway Center
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²						437,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 51,902
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities			14,655
Purchase Price			$ 51,902
Yonkers Gateway Center (Ackerman) [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net						$ 101,825
Shops at Bruckner
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²		114,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 32,269
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities		12,709
Purchase Price		$ 32,269
Hudson Mall
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²	383,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 44,273
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities	17,344
Purchase Price	$ 44,273
The Plaza at Cherry Hill
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²						413,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net						$ 53,535
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities						$ 2,533
Manchester Plaza
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²						131,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net						$ 20,162
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities						$ 1,259
Millburn Gateway Center
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²						102,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net						$ 45,583
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities						$ 947
21 E Broad St / One Lincoln Plaza
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²						22,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net						$ 10,158
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities						$ 554
The Plaza at Woodbridge
Business Acquisition [Line Items]
Area of Land (in sq ft/acres) | ft²					411,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 103,962
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Liabilities					$ 4,198

ACQUISITIONS AND DISPOSITIONS39

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) $ / shares in Units, $ in Thousands, shares in Millions	May 25, 2017USD ($)ft²$ / sharesshares	May 25, 2017USD ($)ft²$ / sharesshares	May 24, 2017ft²shares	Feb. 02, 2017USD ($)ft²	Jan. 17, 2017USD ($)ft²	Jan. 04, 2017USD ($)$ / sharesshares	Jun. 09, 2016USD ($)	Jun. 30, 2017USD ($)ft²	Mar. 31, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)ft²	Jun. 30, 2016USD ($)
Business Acquisition [Line Items]
Business acquisition, consideration paid								$ 463,669
Area of land (in sq ft/acres) | ft²								376,000			376,000
Income from acquired leasehold interest								$ 0		$ 0	$ 39,215	$ 0
Real estate impairment loss								303		0	3,467	0
Gain on sale of real estate								0		$ 15,618	0	$ 15,618
Eatontown, NJ | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Real estate sold								4,800			$ 4,800
Real estate impairment loss								$ 303	$ 3,200
Yonkers Gateway Center
Business Acquisition [Line Items]
Business acquisition, consideration paid						$ 51,902
Business acquisition, equity interest issued or issuable, value						48,800
Cash acquisition price						$ 2,900
Business acquisition, equity interest issued or issuable, units (in shares) | shares						1.8
Business acquisition, unit price (in dollars per share) | $ / shares						$ 27.09
Business acquisition, transaction costs						$ 200
Area of land (in sq ft/acres) | ft²			437,000
Shops at Bruckner
Business Acquisition [Line Items]
Business acquisition, consideration paid					$ 32,269
Cash acquisition price					19,400
Business acquisition, transaction costs					$ 300
Area of land (in sq ft/acres) | ft²					114,000
Shops at Bruckner | Mortgages
Business Acquisition [Line Items]
Business acquisition, debt assumed					$ 12,600
Hudson Mall
Business Acquisition [Line Items]
Business acquisition, consideration paid				$ 44,273
Cash acquisition price				19,900
Business acquisition, transaction costs				$ 600
Area of land (in sq ft/acres) | ft²				383,000
Hudson Mall | Mortgages
Business Acquisition [Line Items]
Business acquisition, debt assumed				$ 23,800
Ackerman Portfolio
Business Acquisition [Line Items]
Business acquisition, consideration paid	$ 325,000
Business acquisition, equity interest issued or issuable, value	122,000	$ 122,000
Cash acquisition price	$ 44,000
Business acquisition, equity interest issued or issuable, units (in shares) | shares	4.5	1.9	2.6
Business acquisition, unit price (in dollars per share) | $ / shares	$ 27.02	$ 27.02
Business acquisition, transaction costs	$ 10,200	$ 10,200
Business acquisition, debt assumed	$ 33,000	$ 33,000
Area of land (in sq ft/acres) | ft²	1,500,000	1,500,000
Percentage of leased area	83.00%	83.00%
Ackerman Portfolio | Mortgages
Business Acquisition [Line Items]
Business acquisition, non-recourse debt issued	$ 126,000
Cross Bay Commons [Member] | Waterbury, CT
Business Acquisition [Line Items]
Real estate sold							$ 21,600
Gain on sale of real estate							$ 15,600

ACQUISITIONS AND DISPOSITIONS40

ACQUISITIONS AND DISPOSITIONS - Aggregate Purchase Price Allocations (Details) - USD ($) $ in Thousands	Jun. 30, 2017	May 25, 2017	May 24, 2017	Feb. 02, 2017	Jan. 17, 2017	Jan. 04, 2017
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium	$ (2,680)
Yonkers Gateway Center	141,234
Shops at Bruckner	333,338
Hudson Mall	114,670
Yonkers Gateway Center	(122,893)
Assets Acquired and Liabilities Assumed, Net	$ 463,669
The Plaza at Woodbridge
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium		$ 0
Yonkers Gateway Center		21,547
Shops at Bruckner		75,017
Hudson Mall		11,596
Yonkers Gateway Center		(4,198)
Assets Acquired and Liabilities Assumed, Net		$ 103,962
21 E Broad St / One Lincoln Plaza
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium			$ 0
Yonkers Gateway Center			5,728
Shops at Bruckner			4,305
Hudson Mall			679
Yonkers Gateway Center			(554)
Assets Acquired and Liabilities Assumed, Net			10,158
Millburn Gateway Center
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium			0
Yonkers Gateway Center			15,783
Shops at Bruckner			25,387
Hudson Mall			5,360
Yonkers Gateway Center			(947)
Assets Acquired and Liabilities Assumed, Net			45,583
Manchester Plaza
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium			0
Yonkers Gateway Center			4,409
Shops at Bruckner			13,756
Hudson Mall			3,256
Yonkers Gateway Center			(1,259)
Assets Acquired and Liabilities Assumed, Net			20,162
The Plaza at Cherry Hill
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium			0
Yonkers Gateway Center			14,602
Shops at Bruckner			33,666
Hudson Mall			7,800
Yonkers Gateway Center			(2,533)
Assets Acquired and Liabilities Assumed, Net			53,535
Yonkers Gateway Center
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium						$ 0
Yonkers Gateway Center						40,699
Shops at Bruckner						0
Hudson Mall						25,858
Yonkers Gateway Center						(14,655)
Assets Acquired and Liabilities Assumed, Net						$ 51,902
Shops at Bruckner
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium					$ (30)
Yonkers Gateway Center					0
Shops at Bruckner					32,979
Hudson Mall					12,029
Yonkers Gateway Center					(12,709)
Assets Acquired and Liabilities Assumed, Net					$ 32,269
Hudson Mall
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium				$ (1,730)
Yonkers Gateway Center				15,824
Shops at Bruckner				37,593
Hudson Mall				9,930
Yonkers Gateway Center				(17,344)
Assets Acquired and Liabilities Assumed, Net				$ 44,273
Ackerman Portfolio
Business Acquisition [Line Items]
Debt Instrument, Unamortized Premium			(920)
Yonkers Gateway Center			22,642
Shops at Bruckner			110,635
Hudson Mall			38,162
Yonkers Gateway Center			(68,694)
Yonkers Gateway Center (Ackerman) [Member]
Business Acquisition [Line Items]
Assets Acquired and Liabilities Assumed, Net			$ 101,825

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Amortization of acquired below-market leases, net of above-market leases	$ 2,100,000	$ 1,900,000	$ 4,100,000	$ 3,800,000
Amortization of Intangible Assets	2,100,000	400,000	3,100,000	800,000
Amortization of below-market Lease	100,000	200,000	500,000	500,000
General and administrative expense	7,709,000	7,535,000	15,790,000	14,255,000
Management and development fees	351,000	526,000	830,000	981,000
Affiliated Entity | Vornado
Related Party Transaction [Line Items]
General and administrative expense	400,000	500,000	900,000	900,000
Affiliated Entity | Separation Transaction | Vornado
Related Party Transaction [Line Items]
Payables to related party	0		0
Affiliated Entity | Management Agreement | Vornado
Related Party Transaction [Line Items]
Management and development fee income	$ 300,000	500,000	$ 800,000	1,000,000
Affiliated Entity | Management Agreement | Vornado | Accounts Receivable
Related Party Transaction [Line Items]
Management fees receivable					$ 300,000
Affiliated Entity | Management Agreement | Vornado | Interstate
Related Party Transaction [Line Items]
Noncontrolling interest percentage	7.10%		7.10%
Affiliated Entity | Management Agreement | Alexander's, Inc. | Vornado
Related Party Transaction [Line Items]
Noncontrolling interest percentage	32.40%		32.40%
Affiliated Entity | Transition Services | Vornado
Related Party Transaction [Line Items]
General and administrative expense	$ 200,000	200,000	$ 400,000	400,000
Affiliated Entity | Rent Expense | Vornado
Related Party Transaction [Line Items]
General and administrative expense	$ 200,000	$ 300,000	$ 500,000	$ 500,000

IDENTIFIED INTANGIBLE ASSETS 42

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Identified intangible assets, net of accumulated amortization	$ 94,964		$ 94,964		$ 30,875
Identified intangible liabilities, net of accumulated amortization	187,223		187,223		$ 146,991
Amortization of acquired below-market leases, net of above-market leases	2,100	$ 1,900	4,100	$ 3,800
Amortization expense of intangible assets	2,100	400	3,100	800
Amortization of below-market Lease	$ 100	$ 200	$ 500	$ 500

IDENTIFIED INTANGIBLE ASSETS 43

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Schedule of Estimated Annual Amortization Expense (Details) $ in Thousands	Jun. 30, 2017USD ($)
Below-Market Operating Leases
2,018	$ 12,074
2,019	11,620
2,020	11,453
2,021	11,251
2,022	10,802
Below-Market Ground Leases
2,018	972
2,019	972
2,020	972
2,021	622
2,022	590
Above-Market Operating Leases
Operating Leases
2,018	1,574
2,019	1,294
2,020	1,016
2,021	803
2,022	426
In-Place Leases
Operating Leases
2,018	11,285
2,019	8,592
2,020	7,325
2,021	6,013
2,022	$ 4,224

MORTGAGES PAYABLE - Summary of

MORTGAGES PAYABLE - Summary of Mortgages Payable (Details) $ in Thousands	May 25, 2017USD ($)	Mar. 29, 2017USD ($)	Mar. 07, 2017USD ($)	Jun. 30, 2017USD ($)property	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)property	Jun. 30, 2016USD ($)	May 24, 2017USD ($)	Mar. 28, 2017USD ($)	Feb. 02, 2017	Dec. 31, 2016USD ($)property	Jan. 31, 2015USD ($)
Debt Instrument [Line Items]
Line of Credit Facility, Increase (Decrease), Net			$ 100,000
Total mortgages payable, net of unamortized debt issuance costs				$ 1,412,397		$ 1,412,397					$ 1,197,513
Loss on extinguishment of debt				0	$ 0	1,274	$ 0
Unamortized debt premium				2,680		2,680
Ackerman Portfolio
Debt Instrument [Line Items]
Unamortized debt premium								$ 920
Business acquisition, debt assumed	$ 33,000
Ackerman Portfolio | Yonkers Gateway Center
Debt Instrument [Line Items]
Business acquisition, debt assumed	30,000
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Variable interest entity, carrying amount of assets				12,400		12,400
Variable interest entity, carrying amount of liabilities				14,500		14,500
Mortgages
Debt Instrument [Line Items]
Total mortgages payable				1,420,605		1,420,605					1,205,560
Unamortized debt issuance costs				(8,208)		(8,208)					(8,047)
Total mortgages payable, net of unamortized debt issuance costs				$ 1,412,397		$ 1,412,397					$ 1,197,513
Mortgages | Ackerman Portfolio
Debt Instrument [Line Items]
Business acquisition, non-recourse debt issued	126,000
Mortgages | Ackerman Portfolio | Westfield - One Lincoln
Debt Instrument [Line Items]
Business acquisition, non-recourse debt issued	126,000
Mortgages | Ackerman Portfolio | The Plaza at Woodbridge
Debt Instrument [Line Items]
Business acquisition, non-recourse debt issued	$ 126,000
Mortgages | Cross Collateralized
Debt Instrument [Line Items]
Number of real estate properties | property				39		39					40
Total mortgages payable				$ 550,495		$ 550,495					$ 557,881
Mortgages | Cross Collateralized | Fixed Rate
Debt Instrument [Line Items]
Interest rate				4.38%		4.38%
Total mortgages payable				$ 511,739		$ 511,739					519,125
Mortgages | Cross Collateralized | Variable Rate
Debt Instrument [Line Items]
Interest rate				2.36%		2.36%
Total mortgages payable				$ 38,756		$ 38,756					38,756
Mortgages | Cross Collateralized | Variable Rate | LIBOR
Debt Instrument [Line Items]
LIBOR Floor						1.00%
Interest rate spread on variable rate						136.00%
Mortgages | First Mortgage | Englewood
Debt Instrument [Line Items]
Interest rate				6.22%		6.22%
Total mortgages payable				$ 11,537		$ 11,537					11,537
Mortgages | First Mortgage | Montehiedra Town Center
Debt Instrument [Line Items]
Interest rate												6.04%
Face amount of debt instrument												$ 120,000
Mortgages | First Mortgage | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate				5.33%		5.33%
Total mortgages payable				$ 86,658		$ 86,658					87,308
Mortgages | First Mortgage | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate				3.00%		3.00%
Total mortgages payable				$ 30,000		$ 30,000					30,000
Mortgages | First Mortgage | The Plaza at Cherry Hill | Junior Loan
Debt Instrument [Line Items]
Interest rate				2.82%		2.82%
Total mortgages payable				$ 28,930		$ 28,930					0
Mortgages | First Mortgage | The Plaza at Cherry Hill | Junior Loan | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate						160.00%
Mortgages | First Mortgage | Westfield - One Lincoln | Junior Loan
Debt Instrument [Line Items]
Interest rate				2.82%		2.82%
Total mortgages payable				$ 4,730		$ 4,730					0
Mortgages | First Mortgage | Westfield - One Lincoln | Junior Loan | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate						160.00%
Mortgages | First Mortgage | The Plaza at Woodbridge | Junior Loan
Debt Instrument [Line Items]
Interest rate				2.82%		2.82%
Total mortgages payable				$ 55,340		$ 55,340					0
Mortgages | First Mortgage | Bergen Town Center
Debt Instrument [Line Items]
Interest rate				3.56%		3.56%
Total mortgages payable				$ 300,000		$ 300,000					300,000
Mortgages | First Mortgage | Shops at Bruckner
Debt Instrument [Line Items]
Interest rate				3.90%		3.90%
Total mortgages payable				$ 12,443		$ 12,443					0
Mortgages | First Mortgage | Hudson Mall
Debt Instrument [Line Items]
Interest rate				5.07%		5.07%
Total mortgages payable				$ 25,333		$ 25,333					0
Effective interest rate										3.11%
Unamortized debt premium				$ 1,600		$ 1,600
Mortgages | First Mortgage | Yonkers Gateway Center
Debt Instrument [Line Items]
Interest rate				4.16%		4.16%
Total mortgages payable				$ 33,967		$ 33,967					0
Effective interest rate										0.80%
Unamortized debt premium				$ 900		$ 900
Mortgages | First Mortgage | Las Catalinas
Debt Instrument [Line Items]
Interest rate				4.43%		4.43%
Total mortgages payable				$ 130,000		$ 130,000					130,000
Mortgages | First Mortgage | North Bergen (Tonnelle Avenue), NJ [Member]
Debt Instrument [Line Items]
Interest rate									4.59%
Total mortgages payable		$ 100,000		100,000		100,000			$ 74,000		73,951
Loss on extinguishment of debt				1,300
Prepayment penalty				1,200
Write-off of unamortized deferred financing fees				100
Mortgages | First Mortgage | Manchester Plaza
Debt Instrument [Line Items]
Interest rate		4.32%
Total mortgages payable				12,500		12,500					0
Mortgages | First Mortgage | Millburn Gateway Plaza
Debt Instrument [Line Items]
Interest rate		3.97%
Total mortgages payable				$ 24,000		$ 24,000					0
Mortgages | First Mortgage | Mount Kisco (Target)
Debt Instrument [Line Items]
Interest rate				6.40%		6.40%
Total mortgages payable				$ 14,672		$ 14,672					14,883
Unamortized debt discount				$ 1,100		$ 1,100					$ 1,100
Effective interest rate				7.34%		7.34%
Mortgages | First Mortgage | Fixed Rate | North Bergen (Tonnelle Avenue), NJ [Member]
Debt Instrument [Line Items]
Interest rate		4.18%
Debt instrument, term		10 years

MORTGAGES PAYABLE - Schedule of

MORTGAGES PAYABLE - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2017USD ($)
Debt Disclosure [Abstract]
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year	$ 9,647
2,016	29,761
2,017	20,397
2,018	517,327
2,019	123,003
2,020	96,748
Thereafter	$ 623,722

MORTGAGES PAYABLE - Additional

MORTGAGES PAYABLE - Additional Information (Details)	Jan. 15, 2015USD ($)extension_option	Jun. 30, 2017USD ($)	Mar. 29, 2017	Mar. 28, 2017	Mar. 07, 2017USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Jan. 31, 2015USD ($)
Debt Instrument [Line Items]
Net carrying amount of real estate collateralizing indebtedness		$ 1,297,700,000
Debt Issuance Costs, Gross		3,800,000				$ 1,900,000
Mortgages payable, net		1,412,397,000				1,197,513,000
Mortgages
Debt Instrument [Line Items]
Mortgages payable, net		1,412,397,000				1,197,513,000
Unamortized debt issuance costs		(8,208,000)				$ (8,047,000)
Mortgages | First Mortgage | North Bergen (Tonnelle Avenue), NJ [Member]
Debt Instrument [Line Items]
Interest rate				4.59%
Mortgages | First Mortgage | Montehiedra Town Center
Debt Instrument [Line Items]
Face amount of debt instrument								$ 120,000,000
Interest rate								6.04%
Intercompany Loans | Montehiedra Town Center
Debt Instrument [Line Items]
Face amount of debt instrument							$ 20,000,000	$ 20,000,000
Mortgages payable, net		$ 19,300,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 600,000,000
Revolving Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 500,000,000
Number of extension options | extension_option	2
Term of each extension option	6 months
Annual facility fee (in percent)	20.00%
Revolving Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Financial covenants, maximum leverage ratio	0.6
Revolving Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Financial covenants, minimum fixed charge coverage ratio	1.5
Revolving Credit Agreement | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate	1.15%
Senior Loan | Mortgages | First Mortgage | Montehiedra Town Center
Debt Instrument [Line Items]
Interest rate		5.33%
Junior Loan | Mortgages | First Mortgage | Montehiedra Town Center
Debt Instrument [Line Items]
Interest rate		3.00%
Variable Rate | Mortgages | Cross Collateralized
Debt Instrument [Line Items]
Interest rate		2.36%
Variable Rate | LIBOR | Mortgages | Cross Collateralized
Debt Instrument [Line Items]
Interest rate spread on variable rate		136.00%
Fixed Rate | Mortgages | First Mortgage | North Bergen (Tonnelle Avenue), NJ [Member]
Debt Instrument [Line Items]
Interest rate			4.18%
Fixed Rate | Mortgages | Cross Collateralized
Debt Instrument [Line Items]
Interest rate		4.38%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)mall	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)mall	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Income Tax Contingency [Line Items]
Income tax benefit (expense)	$ (304)	$ 306	$ (624)	$ (30)
Deferred tax liability	$ (6,392)		$ (6,392)		$ (6,284)
Puerto Rico
Income Tax Contingency [Line Items]
Number of malls | mall	2		2
Vornado
Income Tax Contingency [Line Items]
Percentage of taxable income distributed as dividends to stockholders			100.00%
Commonwealth of Puerto Rico
Income Tax Contingency [Line Items]
Non-resident withholding tax percentage			29.00%
Gross receipts tax percentage			0.50%
Income tax benefit (expense)	$ 300	$ 300	$ 600	$ 0

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income tax expense:
Total income tax expense	$ 304	$ (306)	$ 624	$ 30

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Financial assets measured at fair value on a recurring basis	$ 0		$ 0		$ 0
Financial liabilities measured at fair value on a recurring basis	0		0		0
Assets, Fair Value Disclosure, Nonrecurring	0		0		0
Liabilities, Fair Value Disclosure, Nonrecurring	0		0		0
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate impairment loss	303,000	$ 0	3,467,000	$ 0
Mortgages
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized Debt Issuance Expense	$ 8,208,000		$ 8,208,000		$ 8,047,000

FAIR VALUE MEASUREMENTS - Balan

FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Measurement [Domain]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 248,407
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure		$ 131,654
Debt Instrument, Fair Value Disclosure	1,420,605	1,205,560
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	248,407	131,654
Debt Instrument, Fair Value Disclosure	$ 1,443,347	$ 1,216,989

FAIR VALUE MEASUREMENTS - Inter

FAIR VALUE MEASUREMENTS - Interest Rates Used for Fair Value of Mortgages Payable (Details) - Mortgages	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2017
Low
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value input, interest rate	2.00%	1.80%
High
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value input, interest rate	2.30%	2.20%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2017USD ($)property	Jun. 30, 2017USD ($)property	Dec. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Jan. 31, 2015USD ($)
Loss Contingencies [Line Items]
Insurance coverage, general liability insurance, limit per occurrence	$ 200,000,000	$ 200,000,000
Insurance coverage, rental value insurance, limit per occurrence	$ 500,000,000	500,000,000
Environmental remediation expense		$ 1,400,000
Number of properties with environmental contamination | property	2	2
Mortgages payable, net	$ 1,412,397,000	$ 1,412,397,000	$ 1,197,513,000
Real estate redevelopment in process	173,700,000	173,700,000
Estimated cost to complete development and redevelopment projects	94,000,000	$ 94,000,000
Development In Process, Estimated Duration To Complete		2 years
Cost of Services, Environmental Remediation	100,000
Mortgages
Loss Contingencies [Line Items]
Mortgages payable, net	1,412,397,000	$ 1,412,397,000	$ 1,197,513,000
Montehiedra Town Center | Mortgages | First Mortgage
Loss Contingencies [Line Items]
Face amount of debt instrument					$ 120,000,000
Interest rate					6.04%
Montehiedra Town Center | Intercompany Loans
Loss Contingencies [Line Items]
Face amount of debt instrument				$ 20,000,000	$ 20,000,000
Mortgages payable, net	19,300,000	19,300,000
Puerto Rico
Loss Contingencies [Line Items]
Insurance coverage, rental value insurance, limit per occurrence	139,000,000	139,000,000
Cybersecurity Insurance [Member]
Loss Contingencies [Line Items]
Insurance Coverage, Limit Per Occurrence	$ 5,000,000	$ 5,000,000

PREPAID EXPENSES AND OTHER AS53

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	$ 2,301	$ 2,161
Deposits for acquisitions	0	6,600
Prepaid expenses:
Real estate taxes	3,822	5,198
Insurance	1,622	2,545
Rent, licenses/fees	1,500	938
Total Prepaid expenses and other assets	$ 9,245	$ 17,442

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Deferred tax liability, net	$ 6,392	$ 6,284
Deferred ground rent expense	3,859	3,802
Deferred tenant revenue	4,743	3,280
Environmental remediation costs	1,232	1,309
Other liabilities	401	0
Total Other liabilities	$ 16,627	$ 14,675

INTEREST AND DEBT EXPENSE (Deta

INTEREST AND DEBT EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Income and Expenses [Abstract]
Interest expense	$ 13,040	$ 12,097	$ 25,291	$ 24,867
Amortization of deferred financing costs	587	723	1,451	1,382
Total Interest and debt expense	$ 13,627	$ 12,820	$ 26,742	$ 26,249

EQUITY AND NONCONTROLLING INT56

EQUITY AND NONCONTROLLING INTEREST (Details)	May 25, 2017$ / sharesshares	May 25, 2017$ / sharesshares	May 24, 2017shares	May 10, 2017USD ($)shares	Jan. 04, 2017$ / sharesshares	Jan. 15, 2015	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016$ / sharesshares	Jun. 30, 2017USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / shares	Dec. 31, 2016$ / shares	Aug. 08, 2016USD ($)$ / shares
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share) | $ / shares							$ 0.01		$ 0.01		$ 0.01
Proceeds from issuance of common shares | $									$ 193,516,000	$ 326,000
Distributions to redeemable NCI (in dollars per unit) | $ / shares							$ 0.22	$ 0.20	$ 0.44	$ 0.40
Common limited partnership units issued (in shares) | shares							5,700,000		5,700,000
Noncontrolling interest percentage							8.90%		8.20%
Conversion rate to common shares									1
LTIP Units
Noncontrolling Interest [Line Items]
Award vesting period									2 years
Vornado
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage						5.40%			89.30%
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage						5.00%
Yonkers Gateway Center
Noncontrolling Interest [Line Items]
Business acquisition, equity interest issued or issuable, units (in shares) | shares					1,800,000
Business acquisition, unit price (in dollars per share) | $ / shares					$ 27.09
Ackerman Portfolio
Noncontrolling Interest [Line Items]
Business acquisition, equity interest issued or issuable, units (in shares) | shares	4,500,000	1,900,000	2,600,000
Business acquisition, unit price (in dollars per share) | $ / shares	$ 27.02	$ 27.02
ATM
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share) | $ / shares												$ 0.01
Aggregate shares subscription price | $												$ 250,000,000
Common stock remaining amount available for issuance | $							$ 241,300,000		$ 241,300,000
Common shares issued during period (in shares) | shares							0	0
Underwritten Public Offering
Noncontrolling Interest [Line Items]
Proceeds from issuance of common shares | $				$ 193,500,000
Sale of stock, number of shares issued (in shares) | shares				7,700,000

SHARE-BASED COMPENSATION - Outp

SHARE-BASED COMPENSATION - Outperformance Plan (Details) - 2017 OPP - OPP Units $ in Millions	Feb. 24, 2017USD ($)company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate notional amount	$ 12
OPP award threshold, TSR level required	7.00%
OPP award threshold, TSR level required for multi-year period	21.00%
OPP award threshold, TSR multi-year duration	3 years
Number of REIT peer groups | company	14
Expected dividend rate	10.00%
Grant date fair value of plan	$ 4.1
Fair value assumptions, expected term	3 years
Fair value assumptions, historic volatility rate	19.70%
Fair value assumptions, risk-free interest rate	1.50%
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition From Grant Date	5 years
Year three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage	50.00%
Year four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage	25.00%
Year five
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage	25.00%

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - General and Administrative Expense - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 1,875	$ 1,424	$ 3,359	$ 2,721
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	564	288	919	593
Omnibus Share Plan 2015 [Member] | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	518	383	908	616
Omnibus Share Plan 2015 [Member] | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	646	653	1,269	1,229
Omnibus Share Plan 2015 [Member] | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 147	$ 100	$ 263	$ 283

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Numerator:
Net income (loss) attributable to common shareholders	$ 13,583	$ 33,868	$ 64,169	$ 52,506
Less: Earnings allocated to unvested participating securities	(39)	(43)	(107)	(61)
Net Income (Loss) Available to Common Stockholders, Basic	13,544	33,825	64,062	52,445
OP and LTIP units	0	0	5,463	0
Net income available for common shareholders - dilutive	$ 13,544	$ 33,825	$ 69,525	$ 52,445
Denominator:
Weighted average common shares outstanding - basic (in shares)	104,063	99,274	101,863	99,270
Effect of dilutive securities:
Assumed conversion of OP and LTIP units (in shares)	0	0	9,173	67
Weighted average common shares outstanding - diluted (in shares)	104,260	99,668	111,224	99,592
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Earnings per common share - Diluted (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Urban Edge Properties LP
Numerator:
Net income (loss) attributable to common shareholders	$ 14,909	$ 36,069	$ 69,633	$ 55,861
Less: Earnings allocated to unvested participating securities	(39)	(45)	(104)	(64)
Net Income (Loss) Available to Common Stockholders, Basic	$ 14,870	$ 36,024	$ 69,529	$ 55,797
Denominator:
Weighted average common shares outstanding - basic (in shares)	113,847	105,372	110,682	105,353
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	197	394	188	255
Assumed conversion of OP and LTIP units (in shares)	0	275	0	258
Weighted average common shares outstanding - diluted (in shares)	114,044	106,041	110,870	105,866
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Earnings per common share - Diluted (in dollars per share)	$ 0.13	$ 0.34	$ 0.63	$ 0.53
Stock Options
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	21	272	30	157
Restricted Stock
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	176	122	158	98