Urban Edge Properties (UE) 10-Q 2 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
Document Information [Abstract]
Entity Registrant Name	URBAN EDGE PROPERTIES
Entity Central Index Key	1,611,547
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		113,933,724

Consolidated and Combined Balan

Consolidated and Combined Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Real estate, at cost:
Land	$ 523,798	$ 521,669
Buildings and improvements	2,005,590	2,010,527
Construction in progress	165,403	133,761
Furniture, fixtures and equipment	5,996	5,897
Total	2,700,787	2,671,854
Accumulated depreciation and amortization	(601,729)	(587,127)
Real estate, net	2,099,058	2,084,727
Cash and cash equivalents	462,774	490,279
Restricted cash	10,817	10,562
Tenant and other receivables, net of allowance for doubtful accounts of $5,854 and $4,937, respectively	21,564	20,078
Receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of $528 and $494, respectively	85,727	85,843
Identified intangible assets, net of accumulated amortization of $36,629 and $33,827, respectively	82,787	87,249
Deferred leasing costs, net of accumulated amortization of $15,390 and $14,796, respectively	20,422	20,268
Deferred financing costs, net of accumulated amortization of $1,998 and $1,740, respectively	2,985	3,243
Prepaid expenses and other assets	17,244	18,559
Total assets	2,803,378	2,820,808
Liabilities:
Mortgages payable, net	1,552,543	1,564,542
Identified intangible liabilities, net of accumulated amortization of $66,866 and $65,832, respectively	176,770	180,959
Accounts payable and accrued expenses	71,061	69,595
Other liabilities	15,574	15,171
Total liabilities	1,815,948	1,830,267
Commitments and contingencies
Shareholders’ equity:
Common shares: $0.01 par value; 500,000,000 shares authorized and 113,923,724 and 113,827,529 shares issued and outstanding, respectively	1,139	1,138
Additional paid-in capital	947,815	946,402
Accumulated deficit	(61,975)	(57,621)
Noncontrolling interests:
Operating partnership	100,036	100,218
Partners’ capital:
Consolidated subsidiaries	415	404
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	987,430	990,541
Total liabilities and equity	2,803,378	2,820,808
Urban Edge Properties LP
Real estate, at cost:
Land	523,798	521,669
Buildings and improvements	2,005,590	2,010,527
Construction in progress	165,403	133,761
Furniture, fixtures and equipment	5,996	5,897
Total	2,700,787	2,671,854
Accumulated depreciation and amortization	(601,729)	(587,127)
Real estate, net	2,099,058	2,084,727
Cash and cash equivalents	462,774	490,279
Restricted cash	10,817	10,562
Tenant and other receivables, net of allowance for doubtful accounts of $5,854 and $4,937, respectively	21,564	20,078
Receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of $528 and $494, respectively	85,727	85,843
Identified intangible assets, net of accumulated amortization of $36,629 and $33,827, respectively	82,787	87,249
Deferred leasing costs, net of accumulated amortization of $15,390 and $14,796, respectively	20,422	20,268
Deferred financing costs, net of accumulated amortization of $1,998 and $1,740, respectively	2,985	3,243
Prepaid expenses and other assets	17,244	18,559
Total assets	2,803,378	2,820,808
Liabilities:
Mortgages payable, net	1,552,543	1,564,542
Identified intangible liabilities, net of accumulated amortization of $66,866 and $65,832, respectively	176,770	180,959
Accounts payable and accrued expenses	71,061	69,595
Other liabilities	15,574	15,171
Total liabilities	1,815,948	1,830,267
Commitments and contingencies
Shareholders’ equity:
Accumulated deficit	(67,710)	(62,898)
Partners’ capital:
General partner: 113,923,724 and 113,827,529 units outstanding, respectively	948,954	947,540
Limited partners: 12,840,764 and 12,812,954 units outstanding, respectively	105,771	105,495
Total partners’ capital	987,015	990,137
Consolidated subsidiaries	415	404
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	987,430	990,541
Total liabilities and equity	$ 2,803,378	$ 2,820,808

Consolidated and Combined Bala3

Consolidated and Combined Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Allowance for doubtful accounts	$ 5,854	$ 4,937
Allowance for Doubtful Other Receivables, Current	528	494
Accumulated amortization, identified intangible assets	36,629	33,827
Accumulated amortization, deferred leasing costs	15,390	14,796
Accumulated amortization, deferred financing costs	1,998	1,740
Accumulated amortization, identified intangible liabilities	$ 66,866	$ 65,832
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, outstanding (in shares)	113,923,724	113,827,529
Urban Edge Properties LP
Allowance for doubtful accounts	$ 5,854	$ 4,937
Allowance for Doubtful Other Receivables, Current	528	494
Accumulated amortization, identified intangible assets	36,629	33,827
Accumulated amortization, deferred leasing costs	15,390	14,796
Accumulated amortization, deferred financing costs	1,998	1,740
Accumulated amortization, identified intangible liabilities	$ 66,866	$ 65,832
Common stock, shares, outstanding (in shares)	113,923,724	113,827,529
Limited Partners, units outstanding (in units)	12,840,764	12,812,954

Consolidated and Combined State

Consolidated and Combined Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUE
Property rentals	$ 69,722	$ 62,498
Tenant expense reimbursements	28,672	23,771
Management and development fees	342	479
Income from acquired leasehold interest	0	39,215
Other income	317	101
Total revenue	99,053	126,064
EXPENSES
Depreciation and amortization	21,270	15,828
Real estate taxes	15,775	13,392
Property operating	16,667	13,368
General and administrative	7,641	8,132
Casualty and impairment (gain) loss, net	(1,341)	3,164
Ground rent	2,736	2,670
Provision for doubtful accounts	1,236	193
Total expenses	63,984	56,747
Operating income	35,069	69,317
Interest income	1,524	127
Interest and debt expense	(15,644)	(13,115)
Gain (loss) on extinguishment of debt	2,524	(1,274)
Income before income taxes	23,473	55,055
Income tax expense	(434)	(320)
Net income	23,039	54,735
Less net income attributable to noncontrolling interests in:
Operating partnership	(2,328)	(4,138)
Consolidated subsidiaries	(11)	(11)
Net income (loss) attributable to common shareholders	$ 20,700	$ 50,586
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.51
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.50
Weighted average shares outstanding - Basic (in shares)	113,677	99,639
Weighted average shares outstanding - Diluted (in shares)	113,864	100,093
Urban Edge Properties LP
REVENUE
Property rentals	$ 69,722	$ 62,498
Tenant expense reimbursements	28,672	23,771
Management and development fees	342	479
Income from acquired leasehold interest	0	39,215
Other income	317	101
Total revenue	99,053	126,064
EXPENSES
Depreciation and amortization	21,270	15,828
Real estate taxes	15,775	13,392
Property operating	16,667	13,368
General and administrative	7,641	8,132
Casualty and impairment (gain) loss, net	(1,341)	3,164
Ground rent	2,736	2,670
Provision for doubtful accounts	1,236	193
Total expenses	63,984	56,747
Operating income	35,069	69,317
Interest income	1,524	127
Interest and debt expense	(15,644)	(13,115)
Gain (loss) on extinguishment of debt	2,524	(1,274)
Income before income taxes	23,473	55,055
Income tax expense	(434)	(320)
Net income	23,039	54,735
Less net income attributable to noncontrolling interests in:
Consolidated subsidiaries	(11)	(11)
Net income (loss) attributable to common shareholders	$ 23,028	$ 54,724
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.51
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.50
Weighted average shares outstanding - Basic (in shares)	126,123	107,483
Weighted average shares outstanding - Diluted (in shares)	126,582	108,254

Consolidated and Combined Stat5

Consolidated and Combined Statements of Changes in Equity - 3 months ended Mar. 31, 2018 - USD ($) $ in Thousands	Total	Urban Edge Properties LP	Urban Edge Properties LPAccumulated Earnings (Deficit)	Urban Edge Properties LPConsolidated Subsidiaries	Urban Edge Properties LPGeneral Partner	Urban Edge Properties LPLimited Partners	Common Shares	Additional Paid-In Capital	Accumulated Earnings (Deficit)	Operating Partnership	Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2017	113,827,529	113,827,529			126,640,483		113,827,529
Beginning balance at Dec. 31, 2017	$ 990,541	$ 990,541	$ (62,898)	$ 404	$ 947,540	$ 105,495	$ 1,138	$ 946,402	$ (57,621)	$ 100,218	$ 404
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	20,700	23,028	23,028						20,700
Net income attributable to noncontrolling interests	2,339	11		11						2,328	11
Units redeemed for common shares (in shares)							10,000
Units redeemed for common shares	79							79
Common units issued as a result of common shares issued by Urban Edge (in shares)					102,353
Common units issued as a result of common shares issued by Urban Edge		(24)	(65)		$ 41
Reallocation of noncontrolling interests	(79)							484		(563)
Limited partnership units issued, net					37,810
Limited partnership units issued, net		0			$ 563	(563)
Common shares issued (in shares)							102,353
Common shares issued	(24)						$ 1	40	(65)
Dividends on common shares ($0.22 per share)	(24,997)								(24,997)
Distributions to redeemable NCI ($0.22 per unit)	(2,786)									(2,786)
Distributions to Partners ($0.22 per unit)		(27,783)	(27,783)
Share-based compensation expense	2,020	2,020	8		$ 1,173	839		1,173	8	839
Share-based awards retained for taxes (in shares)					(16,158)		16,158
Share-based awards withheld for taxes	$ (363)	$ (363)			$ (363)			(363)
Ending balance (in shares) at Mar. 31, 2018	113,923,724	113,923,724			126,764,488		113,923,724
Ending balance at Mar. 31, 2018	$ 987,430	$ 987,430	$ (67,710)	$ 415	$ 948,954	$ 105,771	$ 1,139	$ 947,815	$ (61,975)	$ 100,036	$ 415

Consolidated and Combined Stat6

Consolidated and Combined Statements of Changes in Equity (Parenthetical)	3 Months Ended
	Mar. 31, 2018$ / shares
Distributions to redeemable NCI (in dollars per unit)	$ 0.22
Limited Partners | Urban Edge Properties LP
Noncontrolling interest percentage	10.12962%
Accumulated Earnings (Deficit) | Urban Edge Properties LP
Distributions to redeemable NCI (in dollars per unit)	$ 0.22
Accumulated Earnings (Deficit)
Dividends on common shares (in dollars per share)	0.22
Operating Partnership
Distributions to redeemable NCI (in dollars per unit)	$ 0.22

Consolidated and Combined Stat7

Consolidated and Combined Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 23,039	$ 54,735
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,430	16,160
Income from acquired leasehold interest	0	(39,215)
Casualty and impairment loss	0	3,164
(Gain) loss on extinguishment of debt	(2,524)	1,274
Amortization of deferred financing costs	722	864
Amortization of below market leases, net	(2,633)	(2,036)
Straight-lining of rent	66	144
Share-based compensation expense	2,020	1,484
Provision for doubtful accounts	1,236	193
Change in operating assets and liabilities:
Tenant and other receivables	(5,320)	(2,748)
Deferred leasing costs	(938)	(669)
Prepaid and other assets	1,295	(1,336)
Accounts payable and accrued expenses	(4,777)	3,786
Other liabilities	385	1,426
Net cash provided by operating activities	34,001	37,226
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(29,272)	(11,151)
Acquisition of real estate	(3,965)	(36,552)
Insurance proceeds received	1,000	0
Net cash used in investing activities	(32,237)	(47,703)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(844)	(79,428)
Dividends paid to shareholders	(24,997)	(21,869)
Distributions to noncontrolling interests in operating partnership	(2,786)	(1,770)
Debt issuance costs	0	(3,567)
Taxes withheld for vested restricted shares	(363)	(260)
Payments related to the issuance of common shares	(24)	(29)
Proceeds from borrowings	0	100,000
Net cash used in financing activities	(29,014)	(6,923)
Net decrease in cash and cash equivalents and restricted cash	(27,250)	(17,400)
Cash and cash equivalents and restricted cash at beginning of period	500,841	140,186
Cash and cash equivalents and restricted cash at end of period	473,591	122,786
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payment for interest, includes amounts capitalized of $1,154 and $940, respectively	17,253	13,119
Cash payments for income taxes	618	22
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	23,074	12,270
Acquisition of real estate through issuance of OP units	0	48,800
Acquisition of real estate through assumption of debt	0	36,492
Mortgage debt forgiven in foreclosure sale	11,537	0
Write-off of fully depreciated assets	689	0
Cash and cash equivalents and restricted cash at end of period	500,841	140,186
Urban Edge Properties LP
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	23,039	54,735
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	21,430	16,160
Income from acquired leasehold interest	0	(39,215)
Casualty and impairment loss	0	3,164
(Gain) loss on extinguishment of debt	(2,524)	1,274
Amortization of deferred financing costs	722	864
Amortization of below market leases, net	(2,633)	(2,036)
Straight-lining of rent	66	144
Share-based compensation expense	2,020	1,484
Provision for doubtful accounts	1,236	193
Change in operating assets and liabilities:
Tenant and other receivables	(5,320)	(2,748)
Deferred leasing costs	(938)	(669)
Prepaid and other assets	1,295	(1,336)
Accounts payable and accrued expenses	(4,777)	3,786
Other liabilities	385	1,426
Net cash provided by operating activities	34,001	37,226
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(29,272)	(11,151)
Acquisition of real estate	(3,965)	(36,552)
Insurance proceeds received	1,000	0
Net cash used in investing activities	(32,237)	(47,703)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(844)	(79,428)
Distributions to partners	(27,783)	(23,639)
Debt issuance costs	0	(3,567)
Taxes withheld for vested restricted shares	(363)	(260)
Payments related to the issuance of common shares	(24)	(29)
Proceeds from borrowings	0	100,000
Net cash used in financing activities	(29,014)	(6,923)
Net decrease in cash and cash equivalents and restricted cash	(27,250)	(17,400)
Cash and cash equivalents and restricted cash at beginning of period	500,841	140,186
Cash and cash equivalents and restricted cash at end of period	473,591	122,786
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payment for interest, includes amounts capitalized of $1,154 and $940, respectively	17,253	13,119
Cash payments for income taxes	618	22
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	23,074	12,270
Acquisition of real estate through issuance of OP units	0	48,800
Acquisition of real estate through assumption of debt	0	36,492
Mortgage debt forgiven in foreclosure sale	11,537	0
Write-off of fully depreciated assets	689	0
Cash and cash equivalents and restricted cash at end of period	$ 500,841	$ 140,186

Consolidated and Combined Stat8

Consolidated and Combined Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Capitalized interest	$ 1,154	$ 940
Urban Edge Properties LP
Capitalized interest	$ 1,154	$ 940

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2018
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 focused on managing, developing, redeveloping, and acquiring retail real estate in urban communities, primarily in the New York metropolitan area. Urban Edge Properties LP (“UELP” or the “Operating Partnership”) is a Delaware limited partnership formed to serve as UE’s majority-owned partnership subsidiary and to own, through affiliates, all of our 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 March 31, 2018 , Urban Edge owned approximately 89.9% 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 March 31, 2018 , our portfolio consisted of 84 shopping centers, four malls and a warehouse park totaling approximately 16.7 million square feet.

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	3 Months Ended
	Mar. 31, 2018
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 months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2018 . 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, 2017 , as filed with the Securities Exchange Commission (“SEC”). The consolidated balance sheets as of March 31, 2018 and December 31, 2017 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 months ended March 31, 2018 and 2017 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 and malls. We do not distinguish our primary business or group our operations on a geographical basis for purposes of measuring performance. The Company’s chief operating decision maker reviews 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	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 adopted the standard on January 1, 2018, which resulted in no impact. 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 adopted the standard on January 1, 2018, which resulted in no impact to our consolidated financial statements. 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. We are currently in the process of evaluating the inputs required to calculate the amount that will be recorded on our consolidated balance sheets for these leases. 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. Further, internal leasing department costs previously capitalized will be expensed within general and administrative expenses. Historical capitalization of internal leasing costs were $0.2 million for each of the three months ended March 31, 2018 and March 31, 2017 , respectively. ASU 2016-02 originally stated that companies would be required to bifurcate certain lease revenues between lease and non-lease components, however, the FASB issued an exposure draft in January 2018 (2018 Exposure Draft) which, if adopted as written, would allow lessors a practical expedient by class of underlying assets to account for lease and non-lease components as a single lease component if certain criteria are met. ASU 2016-02 originally required a modified retrospective method of adoption, however, the 2018 Exposure Draft indicates that companies may be permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. 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. We adopted this standard effective January 1, 2018 using the modified retrospective approach which requires applying the new standard to all existing contracts not yet completed as of the effective date. We have completed our evaluation of the standard’s impact on the Company’s revenue streams, specifically management and development fee income. The adoption of this standard did not have a material impact on our consolidated financial statements but has resulted in additional qualitative disclosures for the three months ended March 31, 2018 and 2017 (refer to Note 4 Revenues). 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.

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES We have the following revenue sources and revenue recognition policies. The table below presents our revenues disaggregated by revenue source for the quarters ended March 31, 2018 and 2017, respectively: Three Months Ended March 31, (in thousands) 2018 2017 Property rentals $ 69,722 $ 62,498 Tenant expense reimbursements 28,672 23,771 Management and development fees 342 479 Income from acquired leasehold interest — 39,215 Other income 317 101 Total Revenue $ 99,053 $ 126,064 Property Rentals We generate revenue from minimum lease payments from tenant operating leases. These rents are recognized over the noncancelable terms of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases in accordance with ASC 840. We satisfy our performance obligations over time, under the noncancelable lease term, commencing when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a lease incentive to tenants, we recognize the incentive as a reduction of rental revenue on a straight-line basis over the remaining term of the lease. The underlying leased asset remains on our consolidated balance sheet and continues to depreciate. Tenant expense reimbursements In accordance with ASC 840, revenue arises from tenant leases, which provide for the recovery of all or a portion of the operating expenses, real estate taxes and capital improvements of the respective property. This revenue is accrued in the same periods as the expenses are incurred. Other Income Other income is generated in connection with certain services provided to tenants for which we earn a fee. This revenue is recognized as the services are transferred in accordance with ASC 606. Management and development fees We generate management and development fee income from contractual property management agreements with third parties.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS During the three months ended March 31, 2018 , we closed the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) January 26, 2018 938 Spring Valley Road Maywood NJ 2,000 $ 719 February 23, 2018 116 Sunrise Highway Freeport NY 4,750 447 February 28, 2018 197 West Spring Valley Road Maywood NJ 16,300 2,799 Total $ 3,965 (1) (1) The total purchase prices for the properties acquired in the three months ended March 31, 2018 include $0.1 million of transaction costs incurred in relation to the transactions. The properties purchased during the quarter are all adjacent to existing centers owned by the Company. Consideration for these purchases consisted of cash. The aggregate purchase prices of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Total Purchase Price (in thousands) 938 Spring Valley Road $ 519 $ 200 $ 719 116 Sunrise Highway 151 296 447 197 West Spring Valley Road 1,768 1,031 2,799 Total $ 2,438 $ 1,527 $ 3,965 Real Estate Held for Sale At March 31, 2018 , our property in Allentown, PA was classified as held for sale based on the executed contract of sale with a third-party buyer and our intent to dispose of the property. The carrying amount of this property is $3.3 million , net of accumulated depreciation of $14.3 million , which is included in prepaid expenses and other assets in our consolidated balance sheets as of March 31, 2018 and December 31, 2017 , respectively. We completed the sale of the property on April 26, 2018 for $54.3 million , net of selling costs.

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2018
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 $82.8 million and $176.8 million as of March 31, 2018 , respectively, and $87.2 million and $181.0 million as of December 31, 2017 , respectively. Amortization of acquired below-market leases, net of acquired above-market leases resulted in additional rental income of $2.6 million for the three months ended March 31, 2018 and $2.0 million and for the same period in 2017 . Amortization of acquired in-place leases and customer relationships resulted in additional depreciation and amortization expense of $2.8 million for the three months ended March 31, 2018 and $0.9 million for the same period in 2017 . Certain shopping centers are subject to ground leases or ground and building leases. Amortization of these acquired below-market leases resulted in additional rent expense of $0.2 million for the three months ended March 31, 2018 and $0.4 million for the same period in 2017 . The following table sets forth the estimated annual amortization expense related to intangible assets and liabilities for the five succeeding years commencing January 1, 2019: (Amounts in thousands) Below-Market Above-Market Below-Market Year Operating Lease Income Operating Lease Expense In-Place Leases Ground Leases 2019 $ 11,544 $ 1,294 $ 8,556 $ 972 2020 11,377 1,016 7,284 972 2021 11,185 803 5,968 622 2022 10,744 426 4,176 590 2023 10,482 327 3,762 590

MORTGAGES PAYABLE

MORTGAGES PAYABLE	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
MORTGAGES PAYABLE	MORTGAGES PAYABLE The following is a summary of mortgages payable as of March 31, 2018 and December 31, 2017 . Interest Rate at March 31, December 31, (Amounts in thousands) Maturity March 31, 2018 2018 2017 First mortgages secured by: Variable rate Plaza at Cherry Hill (1) 5/24/2022 3.26% $ 28,930 $ 28,930 Westfield - One Lincoln Plaza (1) 5/24/2022 3.26% 4,730 4,730 Plaza at Woodbridge (1) 5/25/2022 3.26% 55,340 55,340 Hudson Commons (2) 11/15/2024 3.56% 29,000 29,000 Watchung (2) 11/15/2024 3.56% 27,000 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 3.56% 24,500 24,500 Total variable rate debt 169,500 169,500 Fixed rate Montehiedra Town Center, Senior Loan 7/6/2021 5.33% 86,094 86,236 Montehiedra Town Center, Junior Loan 7/6/2021 3.00% 30,000 30,000 Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner 5/1/2023 3.90% 12,017 12,162 Hudson Mall (5) 12/1/2023 5.07% 24,832 25,004 Yonkers Gateway Center (6) 4/6/2024 4.16% 32,848 33,227 Las Catalinas 8/6/2024 4.43% 130,000 130,000 Brick 12/10/2024 3.87% 50,000 50,000 North Plainfield 12/10/2025 3.99% 25,100 25,100 Middletown 12/1/2026 3.78% 31,400 31,400 Rockaway 12/1/2026 3.78% 27,800 27,800 East Hanover (200 - 240 Route 10 West) 12/10/2026 4.03% 63,000 63,000 North Bergen (Tonnelle Ave) (4) 4/1/2027 4.18% 100,000 100,000 Manchester Plaza 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 24,000 24,000 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge Commons 12/1/2027 4.36% 22,100 22,100 East Brunswick 12/6/2027 4.38% 63,000 63,000 East Rutherford 1/6/2028 4.49% 23,000 23,000 Hackensack 3/1/2028 4.36% 66,400 66,400 Marlton 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (2445 Springfield Ave) 12/10/2028 4.01% 45,600 45,600 Freeport (437 East Sunrise Highway) 12/10/2029 4.07% 43,100 43,100 Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco -Target (3) 11/15/2034 6.40% 14,338 14,451 Englewood (7) — —% — 11,537 Total fixed rate debt 1,396,329 1,408,817 Total mortgages payable 1,565,829 1,578,317 Unamortized debt issuance costs (13,286 ) (13,775 ) Total mortgages payable, net of unamortized debt issuance costs $ 1,552,543 $ 1,564,542 (1) Bears interest at one month LIBOR plus 160 bps. (2) Bears interest at one month LIBOR plus 190 bps. (3) The mortgage payable balance on the loan secured by Mount Kisco (Target) includes $1.0 million of unamortized debt discount as of both March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt discount is 7.28% as of March 31, 2018 . (4) 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 with a 10 -year fixed rate mortgage, at 4.18% . As a result, we recognized a loss on extinguishment of debt of $1.3 million during the three months ended March 31, 2017 comprised of a $1.1 million prepayment penalty and write-off of $0.2 million of unamortized deferred financing fees on the original loan. (5) The mortgage payable balance on the loan secured by Hudson Mall includes $1.4 million and $1.5 million of unamortized debt premium as of March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt premium is 3.76% as of March 31, 2018 . (6) The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.8 million of unamortized debt premium as of both March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt premium is 3.67% as of March 31, 2018 . (7) On January 31, 2018 , our property in Englewood, NJ was sold at a foreclosure sale and on February 23, 2018 , the court order was received approving the sale and discharging the receiver of all assets and liabilities related to the property. During 2017, our property in Englewood, NJ was transferred to a receiver. On January 31, 2018 , our property in Englewood, NJ was sold at a foreclosure sale and on February 23, 2018 , the court order was received approving the sale and discharging the receiver of all assets and liabilities related to the property. We recognized a gain on extinguishment of debt of $2.5 million as a result of the forgiveness of outstanding mortgage debt of $11.5 million , which is included in gain (loss) on extinguishment of debt in the consolidated statements of income for the three months ended March 31, 2018 . The net carrying amount of real estate collateralizing the above indebtedness amounted to approximately $1.2 billion as of March 31, 2018 . 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 March 31, 2018 , we were in compliance with all debt covenants. As of March 31, 2018 , the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2018 (1) $ 2,441 2019 4,244 2020 7,571 2021 124,448 2022 100,899 2023 344,426 Thereafter 981,800 (1) Remainder of 2018. 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 1.10% to 1.55% and an annual facility fee of 15 to 35 basis points. 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 $3.0 million and $3.2 million as of March 31, 2018 and December 31, 2017, respectively, are included in deferred financing fees in the consolidated balance sheets.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2018
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. On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act amends the Internal Revenue Code to reduce tax rates and modify policies, credits, and deductions for individuals and businesses. Effective January 1, 2018, for businesses, the Act reduces the corporate tax rate from a maximum of 35% to a flat 21% rate. Since UE has elected to qualify as a REIT under sections 856-860 of the Internal Revenue Code with intent to distribute 100% of its taxable income and did not have any activities in a Taxable REIT Subsidiary (“TRS”) prior to January 1, 2018, there was no impact to the Company’s financial statements. On December 31, 2017, the Company elected, for tax purposes, to treat the wholly-owned limited partnership that holds its Allentown property as a taxable REIT subsidiary (“TRS”). A TRS is a corporation, other than a REIT, in which we directly or indirectly hold stock, which has made a joint election with us to be treated as a TRS under Section 856(l) of the Code. A TRS is required to pay regular U.S. federal income tax, and state and local income tax where applicable, as a non-REIT “C” corporation. The Company’s consolidated financial statements for the quarter ended March 31, 2018 reflect the TRS’ federal and state corporate income taxes associated with the operating activities at its Allentown property. The tax expense recorded in association with the operating activities of Allentown was $0.2 million for the quarter ended March 31, 2018 . 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 $0.2 million and $0.3 million for the quarters ended March 31, 2018 and 2017 , respectively. 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	3 Months Ended
	Mar. 31, 2018
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 or Non-Recurring Basis There were no financial assets or liabilities measured at fair value on a recurring or non-recurring basis as of March 31, 2018 and December 31, 2017 . 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 March 31, 2018 and December 31, 2017 . As of March 31, 2018 As of December 31, 2017 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 462,774 $ 462,774 $ 490,279 $ 490,279 Liabilities: Mortgages payable (1) $ 1,565,829 $ 1,537,971 $ 1,578,317 $ 1,579,839 (1) Carrying amounts exclude unamortized debt issuance costs of $13.3 million and $13.8 million as of March 31, 2018 and December 31, 2017 , respectively. The following market spreads were used by the Company to estimate the fair value of mortgages payable: March 31, 2018 December 31, 2017 Low High Low High Mortgages payable 1.7% 2.1% 1.7% 2.1%

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2018
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. Redevelopment As of March 31, 2018 , we had approximately $205.9 million of active development, redevelopment and anchor repositioning projects underway of which $100.3 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 The Company maintains (i) general liability insurance with limits of $200 million for properties in the U.S. and Puerto Rico and (ii) all-risk property insurance with limits of $500 million per occurrence and in the aggregate for properties in the U.S. and $139 million for properties in Puerto Rico, subject to the terms, conditions, exclusions, deductibles and sub-limits when applicable for certain perils such as floods and earthquakes and (iii) numerous other insurance policies including trustees’ and officers’ insurance, workers’ compensation and automobile-related liabilities insurance. The Company’s insurance includes coverage for certified acts of 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, the Company maintains coverage for certain cybersecurity losses with limits of $5 million per occurrence and 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 typically charged directly to each of the retail properties and warehouses but not all of the cost of such premiums are recovered. The Company is responsible for deductibles, losses in excess of insurance coverage, and the portion of premiums not covered from retail properties, 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 and expect premiums across most property coverage lines to increase in light of recent events. The incurrence of uninsured losses, costs or uncovered premiums could materially and adversely affect our business, results of operations and financial condition. Certain of our loans and other agreements contain customary covenants requiring the maintenance of 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 or other counterparties insist on greater coverage than we are able to obtain, such requirement could materially and adversely affect our ability to finance our properties and expand our portfolio. Hurricane-Related Charges On September 20, 2017, Hurricane Maria made landfall, damaging our two properties in Puerto Rico. During the three months ended March 31, 2018 , the Company received $1.5 million in insurance proceeds which were partially offset by $0.2 million of hurricane related costs, resulting in net casualty gains of $1.3 million included in casualty and impairment (gain) loss, net on the accompanying consolidated statements of income. During the three months ended March 31, 2018 , the Company recognized $0.8 million of business interruption losses. Losses of $0.6 million pertained to rent abatements due to tenants that have not reopened since the hurricane, recorded as a reduction of property rentals and tenant expense reimbursements, and $0.2 million was recorded as a provision for doubtful accounts for unpaid rents. As of May 2, 2018, approximately 95% of all stores previously occupied prior to the hurricane (as measured by GLA) are open, including Marshalls, which opened on April 12, 2018. To the extent future insurance proceeds exceed the difference between the hurricane related expenses incurred and/or business interruption losses recognized, the excess will be reflected as a gain in the period those amounts are received or when receipt is deemed probable. No determination has been made as to the total amount or timing of insurance payments that may be received as a result of the hurricane. 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 $1.5 million and $1.2 million on our consolidated balance sheets as of March 31, 2018 and December 31, 2017 , respectively, for potential remediation costs for environmental contamination at certain properties. While this accrual reflects our best estimates of the potential costs of remediation at these properties, $0.3 million has currently been accrued during the quarter ended March 31, 2018 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	3 Months Ended
	Mar. 31, 2018
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) March 31, 2018 December 31, 2017 Real estate held for sale $ 3,285 $ 3,285 Other assets 3,801 3,771 Deposits for acquisitions 100 406 Prepaid expenses: Real estate taxes 5,088 7,094 Insurance 3,342 2,793 Rent, licenses/fees 1,628 1,210 Total Prepaid expenses and other assets $ 17,244 $ 18,559

OTHER LIABILITIES

OTHER LIABILITIES	3 Months Ended
	Mar. 31, 2018
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) March 31, 2018 December 31, 2017 Deferred ground rent expense $ 6,517 $ 6,499 Deferred tax liability, net 3,073 2,828 Deferred tenant revenue 3,996 4,183 Environmental remediation costs 1,482 1,232 Other liabilities 506 429 Total Other liabilities $ 15,574 $ 15,171

INTEREST AND DEBT EXPENSE

INTEREST AND DEBT EXPENSE	3 Months Ended
	Mar. 31, 2018
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 March 31, (Amounts in thousands) 2018 2017 Interest expense $ 14,922 $ 12,251 Amortization of deferred financing costs 722 864 Total Interest and debt expense $ 15,644 $ 13,115

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 , $241.3 million of common shares remained available for issuance under this ATM equity program and there were no common shares issued under the ATM equity program during the three months ended March 31, 2018 and 2017 , respectively. 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. Dividends and Distributions During each of the three months ended March 31, 2018 and 2017 , the Company declared dividends on our common shares and OP unit distributions of $0.22 per share/unit. Noncontrolling Interests in Operating Partnership 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 Vornado Realty L.P. (“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 a 10.1% weighted-average interest in the Operating Partnership for the three months ended March 31, 2018 . 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 in Consolidated Subsidiaries 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	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION 2018 Long-Term Incentive Plan On February 22, 2018 , the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2018 Long-Term Incentive Plan ("2018 LTI Plan"), a multi-year equity compensation program, comprised of both performance-based and time-based vesting awards. Equity awards granted under the 2018 LTI Plan are weighted, in terms of grant date and fair value, 80% performance-based and 20% time-based. For the performance-based awards under the 2018 LTI Plan, participants, have the opportunity to earn awards in the form of LTIP Units if, and only if, Urban Edge’s absolute and relative total shareholder return (“TSR”) meets certain criteria over the three -year performance measurement period (the “Performance Period”) beginning on February 22, 2018 and ending on February 21, 2021 . The Company issued 328,107 LTIP Units under the 2018 LTI Plan. Under the Absolute TSR component ( 25% of the performance-based awards), 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 18% , 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 27% , and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or greater than 36% . The Relative TSR component is based on the Company’s performance compared to a peer group comprised of 14 companies. Under the Relative TSR Component ( 75% of the performance-based awards), 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 35 th percentile of the peer group, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 55 th percentile of the peer group, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or above the 75 th percentile of the peer group, with earning determined using linear interpolation if between such relative TSR thresholds. The fair value of the performance-based award portion of the 2018 LTI Plan on the date of grant was $3.6 million using a Monte Carlo simulation to estimate the fair value through a risk-neutral premise. The time-based awards under the 2018 LTI Plan, also granted in the form of LTIP Units, vest ratably over three years or four years in the case of our Chairman and Chief Executive Officer. The Company granted time-based awards under the 2018 LTI Plan that represent 33,172 LTIP units with a grant date fair value of $ 0.7 million . 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 March 31, (Amounts in thousands) 2018 2017 Share-based compensation expense components: Restricted share expense $ 587 $ 390 Stock option expense 585 623 LTIP expense 166 116 Outperformance Plan (“OPP”) expense 682 355 Total Share-based compensation expense $ 2,020 $ 1,484

EARNINGS PER SHARE AND UNIT

EARNINGS PER SHARE AND UNIT	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND UNIT	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 March 31, (Amounts in thousands, except per share amounts) 2018 2017 Numerator: Net income attributable to common shareholders $ 20,700 $ 50,586 Less: Earnings allocated to unvested participating securities (48 ) (79 ) Net income available for common shareholders - basic $ 20,652 $ 50,507 Impact of assumed conversions: OP and LTIP units — — Net income available for common shareholders - dilutive $ 20,652 $ 50,507 Denominator: Weighted average common shares outstanding - basic 113,677 99,639 Effect of dilutive securities (1) : Stock options using the treasury stock method — 314 Restricted share awards 187 140 Assumed conversion of OP and LTIP units — — Weighted average common shares outstanding - diluted 113,864 100,093 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.18 $ 0.51 Earnings per common share - Diluted $ 0.18 $ 0.50 (1) For the three months ended March 31, 2017 and the three months ended March 31, 2018 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 March 31, (Amounts in thousands, except per unit amounts) 2018 2017 Numerator: Net income attributable to unitholders $ 23,028 $ 54,724 Less: net income attributable to participating securities (48 ) (202 ) Net income available for unitholders $ 22,980 $ 54,522 Denominator: Weighted average units outstanding - basic 126,123 107,483 Effect of dilutive securities issued by Urban Edge 187 454 Unvested LTIP units 272 317 Weighted average units outstanding - diluted 126,582 108,254 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.18 $ 0.51 Earnings per unit - Diluted $ 0.18 $ 0.50

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2018
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 months ended March 31, 2018 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2018 . 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, 2017 , as filed with the Securities Exchange Commission (“SEC”).
Consolidation and Noncontrolling Interests	The consolidated balance sheets as of March 31, 2018 and December 31, 2017 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 months ended March 31, 2018 and 2017 include the consolidated accounts of the Company and the Operating Partnership. All intercompany transactions have been eliminated in consolidation.
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 adopted the standard on January 1, 2018, which resulted in no impact. 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 adopted the standard on January 1, 2018, which resulted in no impact to our consolidated financial statements. 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. We are currently in the process of evaluating the inputs required to calculate the amount that will be recorded on our consolidated balance sheets for these leases. 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. Further, internal leasing department costs previously capitalized will be expensed within general and administrative expenses. Historical capitalization of internal leasing costs were $0.2 million for each of the three months ended March 31, 2018 and March 31, 2017 , respectively. ASU 2016-02 originally stated that companies would be required to bifurcate certain lease revenues between lease and non-lease components, however, the FASB issued an exposure draft in January 2018 (2018 Exposure Draft) which, if adopted as written, would allow lessors a practical expedient by class of underlying assets to account for lease and non-lease components as a single lease component if certain criteria are met. ASU 2016-02 originally required a modified retrospective method of adoption, however, the 2018 Exposure Draft indicates that companies may be permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. The Company will continue to evaluate the impact of this guidance until it becomes effective. 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. We adopted this standard effective January 1, 2018 using the modified retrospective approach which requires applying the new standard to all existing contracts not yet completed as of the effective date. We have completed our evaluation of the standard’s impact on the Company’s revenue streams, specifically management and development fee income. The adoption of this standard did not have a material impact on our consolidated financial statements but has resulted in additional qualitative disclosures for the three months ended March 31, 2018 and 2017 (refer to Note 4 Revenues). 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.
Revenues	Property Rentals We generate revenue from minimum lease payments from tenant operating leases. These rents are recognized over the noncancelable terms of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases in accordance with ASC 840. We satisfy our performance obligations over time, under the noncancelable lease term, commencing when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a lease incentive to tenants, we recognize the incentive as a reduction of rental revenue on a straight-line basis over the remaining term of the lease. The underlying leased asset remains on our consolidated balance sheet and continues to depreciate. Tenant expense reimbursements In accordance with ASC 840, revenue arises from tenant leases, which provide for the recovery of all or a portion of the operating expenses, real estate taxes and capital improvements of the respective property. This revenue is accrued in the same periods as the expenses are incurred. Other Income Other income is generated in connection with certain services provided to tenants for which we earn a fee. This revenue is recognized as the services are transferred in accordance with ASC 606. Management and development fees We generate management and development fee income from contractual property management agreements with third parties.

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Revenues Disaggregated by Revenue Source	for the quarters ended March 31, 2018 and 2017, respectively: Three Months Ended March 31, (in thousands) 2018 2017 Property rentals $ 69,722 $ 62,498 Tenant expense reimbursements 28,672 23,771 Management and development fees 342 479 Income from acquired leasehold interest — 39,215 Other income 317 101 Total Revenue $ 99,053 $ 126,064

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Closed Acquisitions	During the three months ended March 31, 2018 , we closed the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) January 26, 2018 938 Spring Valley Road Maywood NJ 2,000 $ 719 February 23, 2018 116 Sunrise Highway Freeport NY 4,750 447 February 28, 2018 197 West Spring Valley Road Maywood NJ 16,300 2,799 Total $ 3,965 (1) (1) The total purchase prices for the properties acquired in the three months ended March 31, 2018 include $0.1 million of transaction costs incurred in relation to the transactions.
Schedule of Aggregate Purchase Price Allocations	The aggregate purchase prices of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Total Purchase Price (in thousands) 938 Spring Valley Road $ 519 $ 200 $ 719 116 Sunrise Highway 151 296 447 197 West Spring Valley Road 1,768 1,031 2,799 Total $ 2,438 $ 1,527 $ 3,965

IDENTIFIED INTANGIBLE ASSETS 28

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2019: (Amounts in thousands) Below-Market Above-Market Below-Market Year Operating Lease Income Operating Lease Expense In-Place Leases Ground Leases 2019 $ 11,544 $ 1,294 $ 8,556 $ 972 2020 11,377 1,016 7,284 972 2021 11,185 803 5,968 622 2022 10,744 426 4,176 590 2023 10,482 327 3,762 590

MORTGAGES PAYABLE (Tables)

MORTGAGES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of mortgages payable	The following is a summary of mortgages payable as of March 31, 2018 and December 31, 2017 . Interest Rate at March 31, December 31, (Amounts in thousands) Maturity March 31, 2018 2018 2017 First mortgages secured by: Variable rate Plaza at Cherry Hill (1) 5/24/2022 3.26% $ 28,930 $ 28,930 Westfield - One Lincoln Plaza (1) 5/24/2022 3.26% 4,730 4,730 Plaza at Woodbridge (1) 5/25/2022 3.26% 55,340 55,340 Hudson Commons (2) 11/15/2024 3.56% 29,000 29,000 Watchung (2) 11/15/2024 3.56% 27,000 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 3.56% 24,500 24,500 Total variable rate debt 169,500 169,500 Fixed rate Montehiedra Town Center, Senior Loan 7/6/2021 5.33% 86,094 86,236 Montehiedra Town Center, Junior Loan 7/6/2021 3.00% 30,000 30,000 Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner 5/1/2023 3.90% 12,017 12,162 Hudson Mall (5) 12/1/2023 5.07% 24,832 25,004 Yonkers Gateway Center (6) 4/6/2024 4.16% 32,848 33,227 Las Catalinas 8/6/2024 4.43% 130,000 130,000 Brick 12/10/2024 3.87% 50,000 50,000 North Plainfield 12/10/2025 3.99% 25,100 25,100 Middletown 12/1/2026 3.78% 31,400 31,400 Rockaway 12/1/2026 3.78% 27,800 27,800 East Hanover (200 - 240 Route 10 West) 12/10/2026 4.03% 63,000 63,000 North Bergen (Tonnelle Ave) (4) 4/1/2027 4.18% 100,000 100,000 Manchester Plaza 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 24,000 24,000 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge Commons 12/1/2027 4.36% 22,100 22,100 East Brunswick 12/6/2027 4.38% 63,000 63,000 East Rutherford 1/6/2028 4.49% 23,000 23,000 Hackensack 3/1/2028 4.36% 66,400 66,400 Marlton 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (2445 Springfield Ave) 12/10/2028 4.01% 45,600 45,600 Freeport (437 East Sunrise Highway) 12/10/2029 4.07% 43,100 43,100 Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco -Target (3) 11/15/2034 6.40% 14,338 14,451 Englewood (7) — —% — 11,537 Total fixed rate debt 1,396,329 1,408,817 Total mortgages payable 1,565,829 1,578,317 Unamortized debt issuance costs (13,286 ) (13,775 ) Total mortgages payable, net of unamortized debt issuance costs $ 1,552,543 $ 1,564,542 (1) Bears interest at one month LIBOR plus 160 bps. (2) Bears interest at one month LIBOR plus 190 bps. (3) The mortgage payable balance on the loan secured by Mount Kisco (Target) includes $1.0 million of unamortized debt discount as of both March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt discount is 7.28% as of March 31, 2018 . (4) 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 with a 10 -year fixed rate mortgage, at 4.18% . As a result, we recognized a loss on extinguishment of debt of $1.3 million during the three months ended March 31, 2017 comprised of a $1.1 million prepayment penalty and write-off of $0.2 million of unamortized deferred financing fees on the original loan. (5) The mortgage payable balance on the loan secured by Hudson Mall includes $1.4 million and $1.5 million of unamortized debt premium as of March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt premium is 3.76% as of March 31, 2018 . (6) The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.8 million of unamortized debt premium as of both March 31, 2018 and December 31, 2017 , respectively. The effective interest rate including amortization of the debt premium is 3.67% as of March 31, 2018 . (7) On January 31, 2018 , our property in Englewood, NJ was sold at a foreclosure sale and on February 23, 2018 , the court order was received approving the sale and discharging the receiver of all assets and liabilities related to the property.
Schedule of principal repayments	As of March 31, 2018 , the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2018 (1) $ 2,441 2019 4,244 2020 7,571 2021 124,448 2022 100,899 2023 344,426 Thereafter 981,800 (1) Remainder of 2018.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 and December 31, 2017 . As of March 31, 2018 As of December 31, 2017 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 462,774 $ 462,774 $ 490,279 $ 490,279 Liabilities: Mortgages payable (1) $ 1,565,829 $ 1,537,971 $ 1,578,317 $ 1,579,839 (1) Carrying amounts exclude unamortized debt issuance costs of $13.3 million and $13.8 million as of March 31, 2018 and December 31, 2017 , respectively.
Schedule of interest rates used for fair value of mortgages payable	The following market spreads were used by the Company to estimate the fair value of mortgages payable: March 31, 2018 December 31, 2017 Low High Low High Mortgages payable 1.7% 2.1% 1.7% 2.1%

PREPAID EXPENSES AND OTHER AS31

PREPAID EXPENSES AND OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2018
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) March 31, 2018 December 31, 2017 Real estate held for sale $ 3,285 $ 3,285 Other assets 3,801 3,771 Deposits for acquisitions 100 406 Prepaid expenses: Real estate taxes 5,088 7,094 Insurance 3,342 2,793 Rent, licenses/fees 1,628 1,210 Total Prepaid expenses and other assets $ 17,244 $ 18,559

OTHER LIABILITIES (Tables)

OTHER LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2018
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) March 31, 2018 December 31, 2017 Deferred ground rent expense $ 6,517 $ 6,499 Deferred tax liability, net 3,073 2,828 Deferred tenant revenue 3,996 4,183 Environmental remediation costs 1,482 1,232 Other liabilities 506 429 Total Other liabilities $ 15,574 $ 15,171

INTEREST AND DEBT EXPENSE (Tabl

INTEREST AND DEBT EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, (Amounts in thousands) 2018 2017 Interest expense $ 14,922 $ 12,251 Amortization of deferred financing costs 722 864 Total Interest and debt expense $ 15,644 $ 13,115

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, (Amounts in thousands) 2018 2017 Share-based compensation expense components: Restricted share expense $ 587 $ 390 Stock option expense 585 623 LTIP expense 166 116 Outperformance Plan (“OPP”) expense 682 355 Total Share-based compensation expense $ 2,020 $ 1,484

EARNINGS PER SHARE AND UNIT (Ta

EARNINGS PER SHARE AND UNIT (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted earnings per share	The following table sets forth the computation of our basic and diluted earnings per share: Three Months Ended March 31, (Amounts in thousands, except per share amounts) 2018 2017 Numerator: Net income attributable to common shareholders $ 20,700 $ 50,586 Less: Earnings allocated to unvested participating securities (48 ) (79 ) Net income available for common shareholders - basic $ 20,652 $ 50,507 Impact of assumed conversions: OP and LTIP units — — Net income available for common shareholders - dilutive $ 20,652 $ 50,507 Denominator: Weighted average common shares outstanding - basic 113,677 99,639 Effect of dilutive securities (1) : Stock options using the treasury stock method — 314 Restricted share awards 187 140 Assumed conversion of OP and LTIP units — — Weighted average common shares outstanding - diluted 113,864 100,093 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.18 $ 0.51 Earnings per common share - Diluted $ 0.18 $ 0.50 (1) For the three months ended March 31, 2017 and the three months ended March 31, 2018 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 March 31, (Amounts in thousands, except per unit amounts) 2018 2017 Numerator: Net income attributable to unitholders $ 23,028 $ 54,724 Less: net income attributable to participating securities (48 ) (202 ) Net income available for unitholders $ 22,980 $ 54,522 Denominator: Weighted average units outstanding - basic 126,123 107,483 Effect of dilutive securities issued by Urban Edge 187 454 Unvested LTIP units 272 317 Weighted average units outstanding - diluted 126,582 108,254 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.18 $ 0.51 Earnings per unit - Diluted $ 0.18 $ 0.50

ORGANIZATION (Details)

ORGANIZATION (Details) ft² in Millions	Jan. 15, 2015	Mar. 31, 2018ft²property
Real Estate Properties [Line Items]
Area of real estate property (in sq ft) | ft²		16.7
Noncontrolling interest percentage		10.1097%
Vornado
Real Estate Properties [Line Items]
Noncontrolling interest percentage	5.40%	89.90%
Warehouses
Real Estate Properties [Line Items]
Number of real estate properties		1
Wholly owned properties | Shopping Center
Real Estate Properties [Line Items]
Number of real estate properties		84
Wholly owned properties | Mall
Real Estate Properties [Line Items]
Number of real estate properties		4

BASIS OF PRESENTATION AND PRI37

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION (Details)	3 Months Ended
	Mar. 31, 2018segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Accounting Policies [Abstract]
Capitalized internal leasing overhead	$ 0.2

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Total Revenue	$ 99,053	$ 126,064
Transferred over Time | Property rentals
Disaggregation of Revenue [Line Items]
Total Revenue	69,722	62,498
Transferred over Time | Tenant expense reimbursements
Disaggregation of Revenue [Line Items]
Total Revenue	28,672	23,771
Transferred over Time | Management and development fees
Disaggregation of Revenue [Line Items]
Total Revenue	342	479
Transferred over Time | Income from acquired leasehold interest
Disaggregation of Revenue [Line Items]
Total Revenue	0	39,215
Transferred over Time | Other income
Disaggregation of Revenue [Line Items]
Total Revenue	$ 317	$ 101

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Summary of Acquisition Activity (Details) $ in Thousands	Feb. 28, 2018USD ($)ft²	Feb. 23, 2018USD ($)ft²	Jan. 26, 2018USD ($)ft²	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Purchase Price				$ 3,965
Transaction costs				$ 100
938 Spring Valley Road
Business Acquisition [Line Items]
Square Feet (in sq ft/acres) | ft²			2,000
Purchase Price			$ 719
116 Sunrise Highway
Business Acquisition [Line Items]
Square Feet (in sq ft/acres) | ft²		4,750
Purchase Price		$ 447
197 West Spring Valley Road
Business Acquisition [Line Items]
Square Feet (in sq ft/acres) | ft²	16,300
Purchase Price	$ 2,799

ACQUISITIONS AND DISPOSITIONS41

ACQUISITIONS AND DISPOSITIONS - Aggregate Purchase Price Allocations (Details) $ in Thousands	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Land	$ 2,438
Buildings and improvements	1,527
Total Purchase Price	3,965
938 Spring Valley Road
Business Acquisition [Line Items]
Land	519
Buildings and improvements	200
Total Purchase Price	719
116 Sunrise Highway
Business Acquisition [Line Items]
Land	151
Buildings and improvements	296
Total Purchase Price	447
197 West Spring Valley Road
Business Acquisition [Line Items]
Land	1,768
Buildings and improvements	1,031
Total Purchase Price	$ 2,799

ACQUISITIONS AND DISPOSITIONS42

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) - USD ($) $ in Thousands	Apr. 23, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Carrying amount of property, net		$ 2,099,058	$ 2,084,727
Accumulated depreciation and amortization of real estate property		(601,729)	(587,127)
Allentown, PA | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Subsequent Event
Business Acquisition [Line Items]
Consideration received on sale or property	$ 54,300
Allentown, PA | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Carrying amount of property, net		3,300	3,300
Accumulated depreciation and amortization of real estate property		$ (14,300)	$ (14,300)

IDENTIFIED INTANGIBLE ASSETS 43

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Identified intangible assets, net of accumulated amortization	$ 82,787		$ 87,249
Identified intangible liabilities, net of accumulated amortization	176,770		$ 180,959
Amortization of acquired below-market leases, net of above-market leases	2,600	$ 2,000
Amortization expense of intangible assets	2,800	900
Amortization of below-market Lease	$ 200	$ 400

IDENTIFIED INTANGIBLE ASSETS 44

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Schedule of Estimated Annual Amortization Expense (Details) $ in Thousands	Mar. 31, 2018USD ($)
Below-Market Operating Leases
2,018	$ 11,544
2,019	11,377
2,020	11,185
2,021	10,744
2,022	10,482
Below-Market Ground Leases
2,018	972
2,019	972
2,020	622
2,021	590
2,022	590
Above-Market Operating Leases
Operating Leases
2,018	1,294
2,019	1,016
2,020	803
2,021	426
2,022	327
In-Place Leases
Operating Leases
2,018	8,556
2,019	7,284
2,020	5,968
2,021	4,176
2,022	$ 3,762

MORTGAGES PAYABLE - Summary of

MORTGAGES PAYABLE - Summary of Mortgages Payable (Details) - USD ($) $ in Thousands	Mar. 29, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Feb. 23, 2018	Mar. 28, 2017
Debt Instrument [Line Items]
Total mortgages payable, net of unamortized debt issuance costs		$ 1,552,543		$ 1,564,542
Gain on extinguishment of debt		2,524	$ (1,274)
Mortgages
Debt Instrument [Line Items]
Unamortized debt issuance costs		(13,300)
Mortgages | First Mortgage
Debt Instrument [Line Items]
Total mortgages payable		1,565,829		1,578,317
Unamortized debt issuance costs		(13,286)		(13,775)
Total mortgages payable, net of unamortized debt issuance costs		1,552,543		1,564,542
Mortgages | First Mortgage | Variable rate
Debt Instrument [Line Items]
Total mortgages payable		$ 169,500		169,500
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill
Debt Instrument [Line Items]
Interest rate		3.26%
Total mortgages payable		$ 28,930		$ 28,930
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		160.00%		160.00%
Mortgages | First Mortgage | Variable rate | Westfield - One Lincoln Plaza
Debt Instrument [Line Items]
Interest rate		3.26%
Total mortgages payable		$ 4,730		$ 4,730
Mortgages | First Mortgage | Variable rate | Westfield - One Lincoln Plaza | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		160.00%		160.00%
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge
Debt Instrument [Line Items]
Interest rate		3.26%
Total mortgages payable		$ 55,340		$ 55,340
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		160.00%		160.00%
Mortgages | First Mortgage | Variable rate | Hudson Commons
Debt Instrument [Line Items]
Interest rate		3.56%
Total mortgages payable		$ 29,000		$ 29,000
Mortgages | First Mortgage | Variable rate | Hudson Commons | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		190.00%
Mortgages | First Mortgage | Variable rate | Watchung, NJ
Debt Instrument [Line Items]
Interest rate		3.56%
Total mortgages payable		$ 27,000		27,000
Mortgages | First Mortgage | Variable rate | Watchung, NJ | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		190.00%
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY
Debt Instrument [Line Items]
Interest rate		3.56%
Total mortgages payable		$ 24,500		24,500
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate		190.00%
Mortgages | First Mortgage | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable		$ 1,396,329		1,408,817
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate		5.33%
Total mortgages payable		$ 86,094		86,236
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate		3.00%
Total mortgages payable		$ 30,000		30,000
Mortgages | First Mortgage | Fixed rate | Bergen Town Center
Debt Instrument [Line Items]
Interest rate		3.56%
Total mortgages payable		$ 300,000		300,000
Mortgages | First Mortgage | Fixed rate | Shops at Bruckner
Debt Instrument [Line Items]
Interest rate		3.90%
Total mortgages payable		$ 12,017		12,162
Mortgages | First Mortgage | Fixed rate | Hudson Mall
Debt Instrument [Line Items]
Interest rate		5.07%
Total mortgages payable		$ 24,832		25,004
Effective interest rate		3.76%
Unamortized debt premium		$ 1,400		1,500
Mortgages | First Mortgage | Fixed rate | Yonkers Gateway Center
Debt Instrument [Line Items]
Interest rate		4.16%
Total mortgages payable		$ 32,848		33,227
Effective interest rate		3.67%
Unamortized debt premium		$ 800		800
Mortgages | First Mortgage | Fixed rate | Las Catalinas
Debt Instrument [Line Items]
Interest rate		4.43%
Total mortgages payable		$ 130,000		130,000
Mortgages | First Mortgage | Fixed rate | Brick, NJ
Debt Instrument [Line Items]
Interest rate		3.87%
Total mortgages payable		$ 50,000		50,000
Mortgages | First Mortgage | Fixed rate | North Plainfield
Debt Instrument [Line Items]
Interest rate		3.99%
Total mortgages payable		$ 25,100		25,100
Mortgages | First Mortgage | Fixed rate | Middletown, NJ
Debt Instrument [Line Items]
Interest rate		3.78%
Total mortgages payable		$ 31,400		31,400
Mortgages | First Mortgage | Fixed rate | Rockaway
Debt Instrument [Line Items]
Interest rate		3.78%
Total mortgages payable		$ 27,800		27,800
Mortgages | First Mortgage | Fixed rate | East Hanover (200 - 240 Route 10 West), NJ
Debt Instrument [Line Items]
Interest rate		4.03%
Total mortgages payable		$ 63,000		63,000
Mortgages | First Mortgage | Fixed rate | North Bergen (Tonnelle Avenue), NJ
Debt Instrument [Line Items]
Interest rate	4.18%	4.18%				4.59%
Total mortgages payable	$ 100,000	$ 100,000		100,000		$ 74,000
Debt instrument, term	10 years
Gain on extinguishment of debt			(1,300)
Prepayment penalty			1,100
Write-off of unamortized deferred financing fees			$ 200
Mortgages | First Mortgage | Fixed rate | Manchester Plaza
Debt Instrument [Line Items]
Interest rate		4.32%
Total mortgages payable		$ 12,500		12,500
Mortgages | First Mortgage | Fixed rate | Millburn
Debt Instrument [Line Items]
Interest rate		3.97%
Total mortgages payable		$ 24,000		24,000
Mortgages | First Mortgage | Fixed rate | Totowa, NJ
Debt Instrument [Line Items]
Interest rate		4.33%
Total mortgages payable		$ 50,800		50,800
Mortgages | First Mortgage | Fixed rate | Woodbridge Commons
Debt Instrument [Line Items]
Interest rate		4.36%
Total mortgages payable		$ 22,100		22,100
Mortgages | First Mortgage | Fixed rate | East Brunswick, NJ
Debt Instrument [Line Items]
Interest rate		4.38%
Total mortgages payable		$ 63,000		63,000
Mortgages | First Mortgage | Fixed rate | East Rutherford, NJ
Debt Instrument [Line Items]
Interest rate		4.49%
Total mortgages payable		$ 23,000		23,000
Mortgages | First Mortgage | Fixed rate | Hackensack, NJ
Debt Instrument [Line Items]
Interest rate		4.36%
Total mortgages payable		$ 66,400		66,400
Mortgages | First Mortgage | Fixed rate | Marlton, NJ
Debt Instrument [Line Items]
Interest rate		3.86%
Total mortgages payable		$ 37,400		37,400
Mortgages | First Mortgage | Fixed rate | East Hanover Warehouses
Debt Instrument [Line Items]
Interest rate		4.09%
Total mortgages payable		$ 40,700		40,700
Mortgages | First Mortgage | Fixed rate | Union (2445 Springfield Avenue), NJ
Debt Instrument [Line Items]
Interest rate		4.01%
Total mortgages payable		$ 45,600		45,600
Mortgages | First Mortgage | Fixed rate | Freeport (437 East Sunrise Highway), NY
Debt Instrument [Line Items]
Interest rate		4.07%
Total mortgages payable		$ 43,100		43,100
Mortgages | First Mortgage | Fixed rate | Garfield, NJ
Debt Instrument [Line Items]
Interest rate		4.14%
Total mortgages payable		$ 40,300		40,300
Mortgages | First Mortgage | Fixed rate | Mount Kisco (Target)
Debt Instrument [Line Items]
Interest rate		6.40%
Total mortgages payable		$ 14,338		14,451
Unamortized debt discount		$ (1,000)		(1,000)
Effective interest rate		7.28%
Mortgages | First Mortgage | Fixed rate | Englewood
Debt Instrument [Line Items]
Interest rate		0.00%
Total mortgages payable		$ 0		$ 11,537	$ 11,500
Gain on extinguishment of debt		$ 2,500

MORTGAGES PAYABLE - Additional

MORTGAGES PAYABLE - Additional Information (Details)	Mar. 07, 2017USD ($)extension_option	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Feb. 23, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 15, 2015USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt		$ 2,524,000	$ (1,274,000)
Net carrying amount of real estate collateralizing indebtedness		1,200,000,000
Increase in credit facility	$ 100,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 600,000,000
Revolving Credit Facility | Revolving Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 500,000,000
Number of extension options | extension_option	2
Term of each extension option	6 months
Gross debt issuance costs		3,000,000			$ 3,200,000
Revolving Credit Facility | Revolving Credit Agreement | Maximum
Debt Instrument [Line Items]
Annual facility fee (in percent)	35.00%
Financial covenants, maximum leverage ratio						0.6
Revolving Credit Facility | Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Annual facility fee (in percent)	15.00%
Financial covenants, minimum fixed charge coverage ratio	1.5
Revolving Credit Facility | Revolving Credit Agreement | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate spread on variable rate	1.55%
Revolving Credit Facility | Revolving Credit Agreement | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate spread on variable rate	1.10%
First Mortgage | Mortgages
Debt Instrument [Line Items]
Total mortgages payable		1,565,829,000			1,578,317,000
First Mortgage | Mortgages | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable		1,396,329,000			1,408,817,000
First Mortgage | Mortgages | Englewood | Fixed rate
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt		2,500,000
Total mortgages payable		$ 0		$ 11,500,000	$ 11,537,000

MORTGAGES PAYABLE - Schedule of

MORTGAGES PAYABLE - Schedule of Maturities (Details) $ in Thousands	Mar. 31, 2018USD ($)
Debt Disclosure [Abstract]
Remainder of 2018	$ 2,441
2,019	4,244
2,020	7,571
2,021	124,448
2,022	100,899
2,023	344,426
Thereafter	$ 981,800

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)mall	Mar. 31, 2017USD ($)
Income Tax Contingency [Line Items]
Income tax expense	$ 434	$ 320
Puerto Rico
Income Tax Contingency [Line Items]
Number of malls | mall	2
Commonwealth of Puerto Rico
Income Tax Contingency [Line Items]
Income tax expense	$ (200)	$ (300)
Non-resident withholding tax percentage	29.00%
Allentown, PA
Income Tax Contingency [Line Items]
Income tax expense	$ (200)
Vornado
Income Tax Contingency [Line Items]
Percentage of taxable income distributed as dividends to stockholders	100.00%

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Financial assets measured at fair value on recurring basis	$ 0	$ 0
Financial liabilities measured at fair value on recurring basis	0	0
Financial assets measured at fair value on nonrecurring basis	0	0
Financial liabilities measured at fair value on nonrecurring basis	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Balan

FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 462,774	$ 490,279	$ 110,974	$ 131,654
Mortgages payable, net	1,552,543	1,564,542
Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unamortized debt issuance costs	(13,300)
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	462,774	490,279
Mortgages payable	1,565,829	1,578,317
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	462,774	490,279
Mortgages payable	$ 1,537,971	$ 1,579,839

FAIR VALUE MEASUREMENTS - Inter

FAIR VALUE MEASUREMENTS - Interest Rates Used for Fair Value of Mortgages Payable (Details) - Mortgages	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Low
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value input, interest rate	1.70%	1.70%
High
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value input, interest rate	2.05%	2.05%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
	Mar. 31, 2018USD ($)mall	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Sep. 20, 2017mall
Loss Contingencies [Line Items]
Real estate redevelopment in process	$ 205,900,000
Estimated cost to complete development and redevelopment projects	$ 100,300,000
Development in process, estimated duration to complete	2 years
Insurance coverage, general liability insurance, limit per occurrence	$ 200,000,000
Insurance coverage, rental value insurance, limit per occurrence	500,000,000
Insurance coverage, terrorism acts insurance, limit per occurrence	5,000,000
Casualty and impairment (gain) loss, net	0	$ 3,164,000
Provision for doubtful accounts	1,236,000	$ 193,000
Environmental remediation costs	1,482,000		$ 1,232,000
Cost of services, environmental remediation	300,000
Mortgages | First Mortgage
Loss Contingencies [Line Items]
Total mortgages payable	$ 1,565,829,000		$ 1,578,317,000
Puerto Rico
Loss Contingencies [Line Items]
Number of malls | mall	2
Puerto Rico | Montehiedra Town Center and Las Catalinas Mall
Loss Contingencies [Line Items]
Number of malls | mall				2
Percentage of stores open after	95.00%
Puerto Rico | Montehiedra Town Center and Las Catalinas Mall | Hurricane Maria
Loss Contingencies [Line Items]
Insurance coverage, rental value insurance, limit per occurrence	$ 139,000,000
Loss contingency, insurance proceeds received	1,500,000
Reserve for revenue and tenant reimbursements	(600,000)
Provision for doubtful accounts	200,000
Puerto Rico | Montehiedra Town Center and Las Catalinas Mall | Hurricane Maria | Business Interruption
Loss Contingencies [Line Items]
Hurricane-related costs	200,000
Net casualty gains	1,300,000
Business interruption losses	$ 800,000

PREPAID EXPENSES AND OTHER AS53

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Real estate held for sale	$ 3,285	$ 3,285
Other assets	3,801	3,771
Deposits for acquisitions	100	406
Prepaid expenses:
Real estate taxes	5,088	7,094
Insurance	3,342	2,793
Rent, licenses/fees	1,628	1,210
Total Prepaid expenses and other assets	$ 17,244	$ 18,559

OTHER LIABILITIES (Details)

OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred tax liability, net	$ 6,517	$ 6,499
Deferred ground rent expense	3,073	2,828
Deferred tenant revenue	3,996	4,183
Environmental remediation costs	1,482	1,232
Other liabilities	506	429
Total Other liabilities	$ 15,574	$ 15,171

INTEREST AND DEBT EXPENSE (Deta

INTEREST AND DEBT EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income and Expenses [Abstract]
Interest expense	$ 14,922	$ 12,251
Amortization of deferred financing costs	722	864
Total Interest and debt expense	$ 15,644	$ 13,115

EQUITY AND NONCONTROLLING INT56

EQUITY AND NONCONTROLLING INTEREST (Details)	Jan. 15, 2015	Mar. 31, 2018USD ($)$ / sharesshares	Mar. 31, 2017shares	Dec. 31, 2017$ / shares	Aug. 08, 2016USD ($)$ / shares
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Distributions to redeemable NCI (in dollars per unit)		$ 0.22
Common limited partnership units issued (in shares) | shares		5,700,000
Noncontrolling interest percentage		10.1097%
Conversion rate to common shares		1
LTIP Units
Noncontrolling Interest [Line Items]
Award vesting period		2 years
Retained Earnings [Member]
Noncontrolling Interest [Line Items]
Common Stock, Dividends, Per Share, Declared		$ 0.22
Vornado
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage	5.40%	89.90%
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage	5.00%
ATM
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share)					$ 0.01
Aggregate shares subscription price | $					$ 250,000,000
Common stock remaining amount available for issuance | $		$ 241,300,000
Common shares issued during period (in shares) | shares		0	0

SHARE-BASED COMPENSATION - 2018

SHARE-BASED COMPENSATION - 2018 Long-Term Incentive Plan (Details)	Feb. 22, 2018USD ($)companyshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of REIT peer groups | company	14
2018 LTP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards percentage of absolute component of TSR equal to 18%	18.00%
Equity awards percentage of absolute component of TSR equal to 27%	27.00%
Equity awards percentage of absolute component of TSR equal to 36%	36.00%
Equity awards percentage of relative component of TSR equal to 35 percentile of peer group	3500.00%
Equity awards percentage of relative component of TSR equal to 55 percentile of peer group	5500.00%
Equity awards percentage of relative component of TSR equal to 75 percentile of peer group	7500.00%
2018 LTP | Performance-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted percentage of equity awards	$ 0.8
Performance measurement period of equity awards	3 years
Equity awards earned percentage based on absolute TSR component of equal to 18%	25.00%
Equity awards earned percentage based on relative TSR component of 35 percentile of peer group	75.00%
Grant date fair value of equity awards	$ 3,600,000
2018 LTP | Time-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted percentage of equity awards	0.2
Grant date fair value of equity awards	$ 700,000
Award vesting period	3 years
Number or equity awards granted (in shares) | shares	33,172
2018 LTP | Time-Based Shares | Chairman and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
2018 LTP | LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity awards issued (in shares) | shares	328,107
Equity awards earned percentage based on absolute TSR component of equal to 18%	40.00%
Equity awards earned percentage based on absolute TSR component of equal to 27%	100.00%
Equity awards earned percentage based on absolute TSR component of equal to 36%	165.00%
Equity awards earned percentage based on relative TSR component of 35 percentile of peer group	40.00%
Equity awards earned percentage based on relative TSR component of 55 percentile of peer group	100.00%
Equity awards earned percentage based on relative TSR component of 75 percentile of peer group	165.00%

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - General and Administrative Expense - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 2,020	$ 1,484
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	682	355
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	587	390
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	585	623
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	$ 166	$ 116

EARNINGS PER SHARE AND UNIT - C

EARNINGS PER SHARE AND UNIT - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net income attributable to common shareholders	$ 20,700	$ 50,586
Less: Earnings allocated to unvested participating securities	(48)	(79)
Net Income (Loss) Available to Common Stockholders, Basic	20,652	50,507
OP and LTIP units	0	0
Net income available for common shareholders - dilutive	$ 20,652	$ 50,507
Denominator:
Weighted average common shares outstanding - basic (in shares)	113,677	99,639
Effect of dilutive securities:
Assumed conversion of OP and LTIP units (in shares)	0	0
Weighted average common shares outstanding - diluted (in shares)	113,864	100,093
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.51
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.50
Urban Edge Properties LP
Numerator:
Net income attributable to common shareholders	$ 23,028	$ 54,724
Less: Earnings allocated to unvested participating securities	(48)	(202)
Net Income (Loss) Available to Common Stockholders, Basic	$ 22,980	$ 54,522
Denominator:
Weighted average common shares outstanding - basic (in shares)	126,123	107,483
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	187	454
Assumed conversion of OP and LTIP units (in shares)	272	317
Weighted average common shares outstanding - diluted (in shares)	126,582	108,254
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.18	$ 0.51
Earnings per common share - Diluted (in dollars per share)	$ 0.18	$ 0.50
Stock Options
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	0	314
Restricted Stock
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	187	140