Urban Edge Properties (UE) 10-Q 6 Aug 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-36523
Entity Registrant Name	URBAN EDGE PROPERTIES
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-6311266
Entity Address, Address Line One	888 Seventh Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(212)
Local Phone Number	956‑2556
Title of 12(b) Security	Common shares of beneficial interest, par value $0.01 per share
Trading Symbol	UE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,701,311
Entity Central Index Key	0001611547
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Urban Edge Properties LP
Entity Information [Line Items]
Entity File Number	333-212951-01
Entity Registrant Name	URBAN EDGE PROPERTIES LP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-4791544
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Real estate, at cost:
Land	$ 527,480	$ 515,621
Buildings and improvements	2,325,299	2,197,076
Construction in progress	42,019	28,522
Furniture, fixtures and equipment	7,174	7,566
Total	2,901,972	2,748,785
Accumulated depreciation and amortization	(700,362)	(671,946)
Real estate, net	2,201,610	2,076,839
Right-of-use assets	77,957	81,768
Cash and cash equivalents	615,579	432,954
Restricted cash	24,256	52,182
Tenant and other receivables	28,410	21,565
Receivable arising from the straight-lining of rents	68,410	73,878
Identified intangible assets, net of accumulated amortization of $32,755 and $30,942, respectively	57,332	48,121
Deferred leasing costs, net of accumulated amortization of $16,478 and $16,560, respectively	20,162	21,474
Deferred financing costs, net of accumulated amortization of $4,262 and $3,765, respectively	3,903	3,877
Prepaid expenses and other assets	27,488	33,700
Total assets	3,125,107	2,846,358
Liabilities:
Mortgages payable, net	1,584,724	1,546,195
Unsecured credit facility borrowings	250,000	0
Lease liabilities	76,528	79,913
Accounts payable, accrued expenses and other liabilities	58,374	76,644
Identified intangible liabilities, net of accumulated amortization of $67,446 and $62,610, respectively	128,371	128,830
Total liabilities	2,097,997	1,831,582
Commitments and contingencies
Shareholders’ equity:
Common shares: $0.01 par value; 500,000,000 shares authorized and 116,701,311 and 121,370,125 shares issued and outstanding, respectively	1,166	1,213
Additional paid-in capital	984,933	1,019,149
Accumulated earnings (deficit)	1,012	(52,546)
Noncontrolling interests:
Operating partnership	39,575	46,536
Partners’ capital:
Consolidated subsidiaries	424	424
Total equity	1,027,110	1,014,776
Total liabilities and equity	3,125,107	2,846,358
Urban Edge Properties LP
Real estate, at cost:
Land	527,480	515,621
Buildings and improvements	2,325,299	2,197,076
Construction in progress	42,019	28,522
Furniture, fixtures and equipment	7,174	7,566
Total	2,901,972	2,748,785
Accumulated depreciation and amortization	(700,362)	(671,946)
Real estate, net	2,201,610	2,076,839
Right-of-use assets	77,957	81,768
Cash and cash equivalents	615,579	432,954
Restricted cash	24,256	52,182
Tenant and other receivables	28,410	21,565
Receivable arising from the straight-lining of rents	68,410	73,878
Identified intangible assets, net of accumulated amortization of $32,755 and $30,942, respectively	57,332	48,121
Deferred leasing costs, net of accumulated amortization of $16,478 and $16,560, respectively	20,162	21,474
Deferred financing costs, net of accumulated amortization of $4,262 and $3,765, respectively	3,903	3,877
Prepaid expenses and other assets	27,488	33,700
Total assets	3,125,107	2,846,358
Liabilities:
Mortgages payable, net	1,584,724	1,546,195
Unsecured credit facility borrowings	250,000	0
Lease liabilities	76,528	79,913
Accounts payable, accrued expenses and other liabilities	58,374	76,644
Identified intangible liabilities, net of accumulated amortization of $67,446 and $62,610, respectively	128,371	128,830
Total liabilities	2,097,997	1,831,582
Commitments and contingencies
Shareholders’ equity:
Accumulated earnings (deficit)	(324)	(56,166)
Partners’ capital:
General partner: 116,701,311 and 121,370,125 units outstanding, respectively	986,099	1,020,362
Limited partners: 4,676,787 and 5,833,318 units outstanding, respectively	40,911	50,156
Total partners’ capital	1,026,686	1,014,352
Consolidated subsidiaries	424	424
Total equity	1,027,110	1,014,776
Total liabilities and equity	$ 3,125,107	$ 2,846,358

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accumulated amortization, identified intangible assets	$ 32,755	$ 30,942
Accumulated amortization, deferred leasing costs	16,478	16,560
Accumulated amortization, deferred financing costs	4,262	3,765
Accumulated amortization, identified intangible liabilities	$ 67,446	$ 62,610
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)	116,701,311	121,370,125
Urban Edge Properties LP
Allowance for doubtful accounts, tenant and other receivables	$ 0	$ 0
Allowance for doubtful accounts, receivables arising from the straight-lining of rents	0	0
Accumulated amortization, identified intangible assets	32,755	30,942
Accumulated amortization, deferred leasing costs	16,478	16,560
Accumulated amortization, deferred financing costs	4,262	3,765
Accumulated amortization, identified intangible liabilities	$ 67,446	$ 62,610
Common stock, shares, outstanding (in shares)	116,701,311	121,370,125
Limited Partners, units outstanding (in units)	4,676,787	5,833,318

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUE
Rental revenue		$ 73,265	$ 101,488	$ 166,265	$ 198,796
Total revenue		73,619	102,747	166,979	200,479
EXPENSES
Depreciation and amortization		23,299	22,567	46,770	44,397
Real estate taxes		14,896	15,221	29,862	30,698
Property operating		11,894	14,416	26,431	31,477
General and administrative		18,053	10,010	27,900	20,590
Casualty and impairment loss, net(1)	[1]	0	5,112	0	9,070
Lease expense		3,351	3,896	6,785	7,551
Total expenses		71,493	71,222	137,748	143,783
Gain on sale of real estate		0	11,550	39,775	28,503
Interest income		422	2,458	2,105	4,964
Interest and debt expense		(18,573)	(16,472)	(35,748)	(33,008)
Gain on extinguishment of debt		34,908	0	34,908	0
Income before income taxes		18,883	29,061	70,271	57,155
Income tax benefit (expense)		13,662	(994)	13,562	(1,196)
Net income		32,545	28,067	83,833	55,959
Less net (income) loss attributable to noncontrolling interests in:
Operating partnership		(1,290)	(1,518)	(3,598)	(3,873)
Consolidated subsidiaries		0	22	0	22
Net income (loss) attributable to common shareholders		$ 31,255	$ 26,571	$ 80,235	$ 52,108
Earnings per common share - Basic (in dollars per share)		$ 0.27	$ 0.22	$ 0.68	$ 0.44
Earnings per common share - Diluted (in dollars per share)		$ 0.27	$ 0.22	$ 0.67	$ 0.44
Weighted average shares outstanding - Basic (in shares)		116,522	120,364	118,744	118,330
Weighted average shares outstanding - Diluted (in shares)		116,595	120,461	119,607	118,436
Management and development fees
REVENUE
Revenues		$ 285	$ 308	$ 599	$ 660
Other income
REVENUE
Revenues		69	951	115	1,023
Urban Edge Properties LP
REVENUE
Rental revenue		73,265	101,488	166,265	198,796
Total revenue		73,619	102,747	166,979	200,479
EXPENSES
Depreciation and amortization		23,299	22,567	46,770	44,397
Real estate taxes		14,896	15,221	29,862	30,698
Property operating		11,894	14,416	26,431	31,477
General and administrative		18,053	10,010	27,900	20,590
Casualty and impairment loss, net(1)	[1]	0	5,112	0	9,070
Lease expense		3,351	3,896	6,785	7,551
Total expenses		71,493	71,222	137,748	143,783
Gain on sale of real estate		0	11,550	39,775	28,503
Interest income		422	2,458	2,105	4,964
Interest and debt expense		(18,573)	(16,472)	(35,748)	(33,008)
Gain on extinguishment of debt		34,908	0	34,908	0
Income before income taxes		18,883	29,061	70,271	57,155
Income tax benefit (expense)		13,662	(994)	13,562	(1,196)
Net income		32,545	28,067	83,833	55,959
Less net (income) loss attributable to noncontrolling interests in:
Consolidated subsidiaries		0	22	0	22
Net income (loss) attributable to common shareholders		$ 32,545	$ 28,089	$ 83,833	$ 55,981
Earnings per common share - Basic (in dollars per share)		$ 0.27	$ 0.22	$ 0.68	$ 0.44
Earnings per common share - Diluted (in dollars per share)		$ 0.27	$ 0.22	$ 0.68	$ 0.44
Weighted average shares outstanding - Basic (in shares)		120,535	126,478	123,190	126,442
Weighted average shares outstanding - Diluted (in shares)		121,407	126,580	124,082	126,554
Urban Edge Properties LP | Management and development fees
REVENUE
Revenues		$ 285	$ 308	$ 599	$ 660
Urban Edge Properties LP | Other income
REVENUE
Revenues		$ 69	$ 951	$ 115	$ 1,023
[1]

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)	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	Operating PartnershipUrban Edge Properties LPLimited Partners
Beginning balance (in shares) at Dec. 31, 2018								114,345,565
Beginning balance (in shares) at Dec. 31, 2018					114,345,565	12,736,633
Beginning balance at Dec. 31, 2018	$ 1,005,977,000	$ 1,005,977,000	$ (57,482,000)	$ 449,000	$ 957,563,000	$ 105,447,000	[1]	$ 1,143,000	$ 956,420,000	$ (52,857,000)	$ 100,822,000	$ 449,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	52,108,000	55,981,000	55,981,000							52,108,000
Net income attributable to noncontrolling interests	3,851,000	(22,000)		(22,000)							3,873,000
Common units issued as a result of common shares issued by Urban Edge (in shares)					45,022
Common units issued as a result of common shares issued by Urban Edge		(314,000)	70,000		$ (384,000)
Units redeemed for common shares (in shares)					6,811,692	(6,811,692)		6,811,692
Units redeemed for common shares	54,313,000	54,313,000			$ 54,313,000			$ 68,000	54,245,000
Limited partnership units issued, net (in shares)						276,287
Limited partnership units issued, net		0
Reallocation of noncontrolling interests	(54,313,000)	(54,313,000)			1,786,000	$ (56,099,000)	[1]		1,786,000		(56,099,000)
Common shares issued (in shares)								45,022
Common shares issued	314,000							$ 1,000	383,000	(70,000)
Dividends to common shareholders	(52,843,000)									(52,843,000)
Distributions to redeemable NCI	(3,129,000)										(3,129,000)
Distributions to Partners		(55,972,000)	(55,972,000)
Share-based compensation expense	6,959,000	6,959,000	0		$ 3,269,000	$ 3,690,000	[1]		3,269,000		3,690,000
Share-based awards retained for taxes (in shares)					(31,276)			(31,276)
Distributions to redeemable NCI ($0.22 per unit)	(633,000)	(633,000)			$ (633,000)				(633,000)
Ending balance (in shares) at Jun. 30, 2019					121,171,003	6,201,228		121,171,003
Ending balance (in shares) at Jun. 30, 2019					121,171,003	6,201,228
Ending balance at Jun. 30, 2019	1,009,686,000	1,009,686,000	(60,461,000)	427,000	$ 1,016,682,000	$ 53,038,000	[1]	$ 1,212,000	1,015,470,000	(56,580,000)	49,157,000	427,000
Beginning balance (in shares) at Mar. 31, 2019					120,099,294	7,109,786		120,099,294
Beginning balance at Mar. 31, 2019	1,006,092,000	1,006,092,000	(60,509,000)	449,000	$ 1,006,330,000	$ 59,822,000		$ 1,201,000	1,005,129,000	(56,663,000)	55,976,000	449,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	26,571,000	28,089,000	28,089,000							26,571,000
Net income attributable to noncontrolling interests	1,496,000	(22,000)		(22,000)							1,518,000	(22,000)
Common units issued as a result of common shares issued by Urban Edge (in shares)					24,365
Common units issued as a result of common shares issued by Urban Edge		(279,000)	35,000		$ (314,000)
Units redeemed for common shares (in shares)					1,049,508	(1,049,508)		1,049,508
Units redeemed for common shares	8,166,000	8,166,000			$ 8,166,000			$ 11,000	8,155,000
Limited partnership units issued, net (in shares)						140,950
Limited partnership units issued, net		0
Reallocation of noncontrolling interests	(8,166,000)	(8,166,000)			536,000	$ (8,702,000)			536,000		(8,702,000)
Common shares issued (in shares)								24,365
Common shares issued								$ 279,000	314,000	(35,000)
Dividends to common shareholders	(26,453,000)									(26,453,000)
Distributions to redeemable NCI	(1,553,000)										(1,553,000)
Distributions to Partners		(28,006,000)	(28,006,000)
Share-based compensation expense	3,295,000	3,295,000			$ 1,377,000	$ 1,918,000			1,377,000	0	1,918,000
Share-based awards retained for taxes (in shares)					(2,164)			(2,164)
Distributions to redeemable NCI ($0.22 per unit)	(41,000)	(41,000)			$ (41,000)				(41,000)
Ending balance (in shares) at Jun. 30, 2019					121,171,003	6,201,228		121,171,003
Ending balance (in shares) at Jun. 30, 2019					121,171,003	6,201,228
Ending balance at Jun. 30, 2019	$ 1,009,686,000	$ 1,009,686,000	(60,461,000)	427,000	$ 1,016,682,000	$ 53,038,000	[1]	$ 1,212,000	1,015,470,000	(56,580,000)	49,157,000	427,000
Noncontrolling interest percentage													4.90%
Beginning balance (in shares) at Dec. 31, 2019	121,370,125	121,370,125						121,370,125
Beginning balance (in shares) at Dec. 31, 2019					121,370,125	5,833,318
Beginning balance at Dec. 31, 2019	$ 1,014,776,000	$ 1,014,776,000	(56,166,000)	424,000	$ 1,020,362,000	$ 50,156,000	[2]	$ 1,213,000	1,019,149,000	(52,546,000)	46,536,000	424,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	80,235,000	83,833,000	83,833,000							80,235,000
Net income attributable to noncontrolling interests	3,598,000										3,598,000
Common units issued as a result of common shares issued by Urban Edge (in shares)					53,193
Common units issued as a result of common shares issued by Urban Edge		(205,000)	30,000		$ (235,000)	$ (122,858)
Units redeemed for common shares (in shares)					1,279,389	(1,279,389)		1,279,389
Units redeemed for common shares	$ 8,628,000	8,628,000			$ 8,628,000			$ 11,000	8,617,000
Repurchase of common shares (in shares)	(5,873,923)
Repurchase of common shares	$ (54,141,000)	(54,141,000)			(54,141,000)			$ (59,000)	(54,082,000)
Reallocation of noncontrolling interests	(8,628,000)	(8,628,000)			7,858,000	$ (16,486,000)	[2]		7,858,000		(16,486,000)
Common shares issued (in shares)								53,193
Common shares issued	205,000							$ 1,000	234,000	(30,000)
Dividends to common shareholders	(26,647,000)									(26,647,000)
Distributions to redeemable NCI	(1,314,000)										(1,314,000)
Distributions to Partners		(27,961,000)	(27,961,000)
Share-based compensation expense	11,859,000	11,859,000			$ 4,618,000	$ 7,241,000	[2]		4,618,000		7,241,000
Share-based awards retained for taxes (in shares)					(127,473)			(127,473)
Distributions to redeemable NCI ($0.22 per unit)	$ (1,461,000)	$ (1,461,000)			$ (1,461,000)				(1,461,000)
Ending balance (in shares) at Jun. 30, 2020	116,701,311	116,701,311						116,701,311
Ending balance (in shares) at Jun. 30, 2020					116,701,311	4,676,787
Ending balance at Jun. 30, 2020	$ 1,027,110,000	$ 1,027,110,000	(324,000)	424,000	$ 986,099,000	$ 40,911,000	[2]	$ 1,166,000	984,933,000	1,012,000	39,575,000	424,000
Beginning balance (in shares) at Mar. 31, 2020					117,956,031	4,971,944		117,956,031
Beginning balance at Mar. 31, 2020	998,223,000	998,223,000	(32,869,000)	424,000	$ 987,668,000	$ 43,000,000		$ 1,179,000	986,489,000	(30,243,000)	40,374,000	424,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	31,255,000	32,545,000	32,545,000							31,255,000
Net income attributable to noncontrolling interests	1,290,000										1,290,000	0
Common units issued as a result of common shares issued by Urban Edge (in shares)					22,901
Common units issued as a result of common shares issued by Urban Edge		(204,000)			$ (204,000)	$ 41,604
Units redeemed for common shares (in shares)					253,553	(253,553)		253,553
Units redeemed for common shares	$ 282,000	282,000			$ 282,000			$ 1,000	281,000
Repurchase of common shares (in shares)	(1,421,700)
Repurchase of common shares	$ (11,340,000)	(11,340,000)			(11,340,000)			$ (14,000)	(11,326,000)
Reallocation of noncontrolling interests	(282,000)	(282,000)			6,951,000	$ (7,233,000)	[2]		6,951,000		(7,233,000)
Common shares issued (in shares)								22,901
Common shares issued	204,000								204,000
Share-based compensation expense	8,611,000	8,611,000			$ 3,467,000	$ 5,144,000	[2]		3,467,000	0	5,144,000
Share-based awards retained for taxes (in shares)					(109,474)			(109,474)
Distributions to redeemable NCI ($0.22 per unit)	$ (1,133,000)	$ (1,133,000)			$ (1,133,000)				(1,133,000)
Ending balance (in shares) at Jun. 30, 2020	116,701,311	116,701,311						116,701,311
Ending balance (in shares) at Jun. 30, 2020					116,701,311	4,676,787
Ending balance at Jun. 30, 2020	$ 1,027,110,000	$ 1,027,110,000	$ (324,000)	$ 424,000	$ 986,099,000	$ 40,911,000	[2]	$ 1,166,000	$ 984,933,000	$ 1,012,000	$ 39,575,000	$ 424,000
Noncontrolling interest percentage													3.90%
[1]	Limited partners have a 4.9% common limited partnership interest in the Operating Partnership as of June 30, 2019 in the form of units of interest in the OP Units and LTIP units.
[2]	Limited partners have a 3.9% common limited partnership interest in the Operating Partnership as of June 30, 2020 in the form of units of interest in the OP Units and LTIP units.

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Distributions to redeemable NCI (in dollars per unit)		$ 0.22	$ 0.22	$ 0.44
Accumulated Earnings (Deficit) | Urban Edge Properties LP
Dividends on common shares (in dollars per share)	$ 0.22	0.22
Accumulated Earnings (Deficit)
Dividends on common shares (in dollars per share)	0.22	0.22
Operating Partnership
Distributions to redeemable NCI (in dollars per unit)	$ 0.22	$ 0.22
Operating Partnership | Limited Partners | Urban Edge Properties LP
Noncontrolling interest percentage	3.90%	4.90%	3.90%	4.90%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 83,833	$ 55,959
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	46,267	44,231
Casualty and impairment loss, net	0	9,070
Gain on sale of real estate	(39,775)	(28,503)
Gain on extinguishment of debt	(34,908)	0
Amortization of deferred financing costs	1,410	1,439
Amortization of below market leases, net	(4,454)	(11,802)
Noncash lease expense	3,817	4,448
Straight-lining of rent	5,264	37
Share-based compensation expense	11,859	6,959
Rental revenue deemed uncollectible	13,079	773
Change in operating assets and liabilities:
Tenant and other receivables	(19,924)	(4,700)
Deferred leasing costs	(759)	(1,874)
Prepaid expenses and other assets	(9,983)	13,488
Lease liabilities	(3,385)	(15,930)
Accounts payable, accrued expenses and other liabilities	(10,364)	3,242
Net cash provided by operating activities	41,977	76,837
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	11,170	50,631
Acquisitions of real estate	92,132	0
Proceeds from sale of operating properties	54,402	33,821
Insurance proceeds	0	4,400
Net cash used in investing activities	(48,900)	(12,410)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(85,978)	(2,059)
Dividends to common shareholders	(26,647)	(52,843)
Distributions to redeemable noncontrolling interests	(1,314)	(3,129)
Taxes withheld for vested restricted shares	(1,461)	(633)
Borrowings under unsecured credit facility	250,000	0
Proceeds from mortgage loan borrowings	83,000
Repurchase of common shares	(54,141)	0
Debt issuance costs	(2,042)	0
Proceeds related to the issuance of common shares	205	314
Net cash provided by (used in) financing activities	161,622	(58,350)
Net increase in cash and cash equivalents and restricted cash	154,699	6,077
Cash and cash equivalents and restricted cash at beginning of period	485,136	457,522
Cash and cash equivalents and restricted cash at end of period	639,835	463,599
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest, net of amounts capitalized of $281 and $989, respectively	37,268	32,478
Cash payments for income taxes	448	1,571
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	4,045	15,463
Write-off of fully depreciated and impaired assets	10,353	38,101
Mortgage debt forgiven in refinancing	30,000	0
Assumption of debt through the acquisition of real estate	72,473	0
Cash and cash equivalents at beginning of period	432,954	440,430
Cash and cash equivalents at end of period	615,579	412,126
Restricted cash at beginning of period	52,182	17,092
Restricted cash at end of period	24,256	51,473
Cash and cash equivalents and restricted cash at beginning/end of period	639,835	463,599
Urban Edge Properties LP
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	83,833	55,959
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	46,267	44,231
Casualty and impairment loss, net	0	9,070
Gain on sale of real estate	(39,775)	(28,503)
Gain on extinguishment of debt	(34,908)	0
Amortization of deferred financing costs	1,410	1,439
Amortization of below market leases, net	(4,454)	(11,802)
Noncash lease expense	3,817	4,448
Straight-lining of rent	5,264	37
Share-based compensation expense	11,859	6,959
Rental revenue deemed uncollectible	13,079	773
Change in operating assets and liabilities:
Tenant and other receivables	(19,924)	(4,700)
Deferred leasing costs	(759)	(1,874)
Prepaid expenses and other assets	(9,983)	13,488
Lease liabilities	(3,385)	(15,930)
Accounts payable, accrued expenses and other liabilities	(10,364)	3,242
Net cash provided by operating activities	41,977	76,837
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	11,170	50,631
Acquisitions of real estate	92,132	0
Proceeds from sale of operating properties	54,402	33,821
Insurance proceeds	0	4,400
Net cash used in investing activities	(48,900)	(12,410)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(85,978)	(2,059)
Distributions to partners	27,961	55,972
Taxes withheld for vested restricted shares	(1,461)	(633)
Borrowings under unsecured credit facility	250,000	0
Proceeds from mortgage loan borrowings	83,000	0
Repurchase of common shares	(54,141)	0
Debt issuance costs	(2,042)	0
Proceeds related to the issuance of common shares	205	314
Net cash provided by (used in) financing activities	161,622	(58,350)
Net increase in cash and cash equivalents and restricted cash	154,699	6,077
Cash and cash equivalents and restricted cash at beginning of period	485,136	457,522
Cash and cash equivalents and restricted cash at end of period	639,835	463,599
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest, net of amounts capitalized of $281 and $989, respectively	37,268	32,478
Cash payments for income taxes	448	1,571
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	4,045	15,463
Write-off of fully depreciated and impaired assets	10,353	38,101
Mortgage debt forgiven in refinancing	30,000	0
Assumption of debt through the acquisition of real estate	72,473	0
Cash and cash equivalents at beginning of period	432,954	440,430
Cash and cash equivalents at end of period	615,579	412,126
Restricted cash at beginning of period	52,182	17,092
Restricted cash at end of period	24,256	51,473
Cash and cash equivalents and restricted cash at beginning/end of period	$ 639,835	$ 463,599

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Capitalized interest	$ 281	$ 989
Urban Edge Properties LP
Capitalized interest	$ 281	$ 989

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2020
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 the Company’s real estate properties and other assets. Unless the context otherwise requires, references to “we”, “us” and “our” refer to Urban Edge Properties and UELP and their consolidated entities/subsidiaries. The Operating Partnership’s capital includes general and common limited partnership interests in the operating partnership (“OP Units”). As of June 30, 2020 , Urban Edge owned approximately 96.1% of the outstanding common OP Units with the remaining limited OP Units held by members of management, Urban Edge’s Board of Trustees and contributors of property interests acquired. Urban Edge serves as the sole general partner of the Operating Partnership. The third-party unitholders have limited rights over the Operating Partnership such that they do not have characteristics of a controlling financial interest. As such, the Operating Partnership is considered a variable interest entity (“VIE”), and the Company is the primary beneficiary which consolidates it. The Company’s only investment is the Operating Partnership. The VIE’s assets can be used for purposes other than the settlement of the VIE’s obligations and the Company’s partnership interest is considered a majority voting interest. As of June 30, 2020 , our portfolio consisted of 73 shopping centers, four malls and a warehouse park, totaling approximately 15.1 million

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions of Form 10-Q. Certain information and footnote disclosures included in our annual financial statements have been condensed or omitted. In the opinion of management, the consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of the Company and the Operating Partnership and the results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2020 . 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, 2019 , as filed with the Securities Exchange Commission (“SEC”). The consolidated balance sheets as of June 30, 2020 and December 31, 2019 reflect the consolidation of wholly-owned subsidiaries and those entities in which we have a controlling financial interest. The consolidated statements of income for the three and six months ended June 30, 2020 and 2019 include the consolidated accounts of the Company and the Operating Partnership. All intercompany transactions have been eliminated in consolidation. In accordance with ASC 205 Presentation of Financial Statements, certain prior year balances have been reclassified in order to conform to the current period presentation. The Company includes real estate impairment charges, and casualty losses (gains) resulting from natural disasters in Casualty and impairment loss, net on its consolidated statements of income for the three and six months ended June 30, 2019 as reflected in this Quarterly Report on Form 10-Q. Refer to Note 9 and Note 10 to the unaudited consolidated financial statements in Part I, Item I of this Quarterly Report on Form 10-Q for information regarding real estate impairment charges and casualty losses (gains), respectively. 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 as of June 30, 2020. We aggregate all of our properties into one reportable segment due to their similarities with regard to the nature and economics of the properties, tenants and operations, as well as long-term average financial performance.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Real Estate — Real estate is carried at cost, net of accumulated depreciation and amortization. Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations that improve or extend the useful lives of assets are capitalized. As real estate is undergoing redevelopment activities, all property operating expenses directly associated with and attributable to the redevelopment, including interest, are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the property when completed. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of redeveloped property, the excess is charged to impairment expense. The capitalization period begins when redevelopment activities are underway and ends when the project is substantially complete. Depreciation is recognized on a straight-line basis over estimated useful lives which range from one to 40 years. Upon the acquisition of real estate, we assess the fair value of acquired assets (including land, buildings and improvements, identified intangibles, such as acquired above and below-market leases, acquired in-place leases and tenant relationships) and acquired liabilities and we allocate the purchase price based on these assessments on a relative fair value basis. We assess fair value based on estimated cash flow projections utilizing appropriate discount and capitalization rates and available market information. Estimates of future cash flows are based on a number of factors including historical operating results, known trends, and market/economic conditions. We record acquired intangible assets (including acquired above-market leases, acquired in-place leases and tenant relationships) and acquired intangible liabilities (including below-market leases) at their estimated fair value. We amortize identified intangibles that have finite lives over the period they are expected to contribute directly or indirectly to the future cash flows of the property or business acquired. Our properties are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Such events and changes include macroeconomic conditions, including those caused by global pandemics, like the recent coronavirus disease pandemic (“COVID-19” or the “COVID-19 pandemic”), which resulted in property operational disruption and indicate that the carrying amount may not be recoverable. An impairment exists when the carrying amount of an asset exceeds the aggregate projected future cash flows over the anticipated holding period on an undiscounted basis taking into account the appropriate capitalization rate in determining a future terminal value. An impairment loss is measured based on the excess of the property’s carrying amount over its estimated fair value. Estimated fair value may be based on discounted future cash flows utilizing appropriate discount and capitalization rates and, in addition to available market information, third-party appraisals, broker selling estimates or sale agreements under negotiation. Impairment analyses are based on our current plans, intended holding periods and available market information at the time the analyses are prepared. If our estimates of the projected future cash flows change based on uncertain market conditions, our evaluation of impairment losses may be different and such differences could be material to our consolidated financial statements. Tenant and Other Receivables and Changes in Collectibility Assessment — Tenant receivables include unpaid amounts billed to tenants, disputed enforceable charges and accrued revenues for future billings to tenants for property expenses. We evaluate the collectibility of amounts due from tenants and disputed enforceable charges on both a lease-by-lease and a portfolio-level, which resulted from the inability of tenants to make required payments under their operating lease agreements. We recognize changes in the collectibility assessment of these operating leases as adjustments to rental revenue in accordance with ASC 842 Leases . Management exercises judgment in assessing collectibility and considers payment history, current credit status and publicly available information about the financial condition of the tenant, among other factors. Tenant receivables, including receivables arising from the straight-lining of rents, are written-off directly when management deems that the collectibility of substantially all future lease payments from a specific lease is not probable of collection, at which point, the Company will begin recognizing revenue from such leases prospectively, based on actual amounts received. In light of the recent and ongoing COVID-19 pandemic, the Company is closely monitoring changes in the collectibility assessment of its tenant receivables as a result of disputes and certain tenants suffering adverse financial consequences and has recognized a reserve for rental revenue deemed uncollectible. During the three and six months ended June 30, 2020 , the Company recognized a write-off of $6.0 million related to receivables arising from the straight-lining of rents as a result of tenants impacted by COVID-19 and recognized $12.5 million and $13.9 million , respectively, as rental revenue deemed uncollectible (classified within rental revenue) based on our assessment of the probability of collecting substantially all of the remaining rents for certain tenants. Recently Issued Accounting Literature — Effective for the fiscal period beginning January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses . In connection with the adoption of ASU 2016-03, we also adopted (i) ASU 2018-19 Codification Improvements to ASC 326, Financial Instruments - Credit Losses, (ii) ASU 2019-04, Codification Improvements to ASC 326, Financial Statements - Credit Losses, Topic 815, Derivatives and Hedging and Topic 825, Financial Instruments , ( iii) ASU 2019-05 Financial Instruments - Credit Losses (ASC 326): Targeted Transition Relief and (iv) ASU 2019-11 Codification Improvements to ASC 326, Financial Instruments - Credit Losses. ASU 2016-13 introduces a new model for estimating credit losses for certain types of financial instruments and also modifies the impairment model with new methodology for estimating credits losses. In November 2018, the FASB issued ASU 2018-19 Codification Improvements to Topic 326, Financial Instruments — Credit Losses , which included amendments to clarify receivables arising from operating leases are within the scope ASC 842 Leases . Due to the adoption of ASC 842 on January 1, 2019, the Company includes rental revenue deemed uncollectible as a reduction to rental revenue in "Rental revenue" in the consolidated statements of income . As of June 30, 2020 , the Company did not have any outstanding financial instruments. The adoption of ASU 2016-13 has had no impact to our consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12 Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects of the income tax accounting. ASU 2019-12 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact ASU 2019-12 may have to our consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. We currently do not anticipate the need to modify our existing debt agreements as a result of reference rate reform, however if any modification is executed as a result of reference rate reform, the Company will elect the optional expedient available under ASU 2020-04, which allows entities to account for the modification as if the modification was not substantial. We will disclose the nature of and reason for electing the optional expedient in each interim and annual financial statement period if and when application through December 31, 2022. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under ASC 842. Instead, when the cash flows resulting from the lease concession granted for COVID-19 rent relief are substantially the same or less than the cash flows of the original contract, an entity can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). The FASB expects that there will be multiple ways to account for deferrals, none of which the FASB believes are more preferable than the others. Two of those methods are: (i) account for the concessions as if no changes to the lease contract were made; under that accounting, a lessor would increase its lease receivable and continue to recognize income, referred to as the (“receivable approach”); or (ii) account for the deferred payments or abatements as variable lease payments; under that accounting, a lessor would recognize the payment as income in profit or loss in the period in which the changes in facts and circumstances on which the variable lease payments are based occurred, referred to as the (“variable approach”). The Company is evaluating its election on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. As of August 4, 2020 , the Company granted rent deferrals with an aggregate deferral amount of $0.7 million , with $0.5 million accounted for under the receivable approach by electing the Lease Modification Q&A and $0.2 million accounted for as modifications due to term extensions of the leases. The Company also granted abatements with an aggregate abatement amount of $0.1 million as of August 4, 2020 , which were accounted for under the variable approach and are not considered modifications by electing the Lease Modification Q&A. The Company remains in active discussions with its impacted tenants to grant further concessions. The full future impact of the Lease Modification Q&A is dependent upon the extent of lease concessions granted to tenants as a result of COVID-19 and the elections made by the Company at the time of entering into such concessions. Refer to Note 10 to the unaudited consolidated financial statements in Part I, Item I of this Quarterly Report on Form 10-Q.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS Acquisitions During the six months ended June 30, 2019 , no acquisitions were completed by the Company. During the six months ended June 30, 2020 , we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) February 12, 2020 Kingswood Center Brooklyn NY 130,000 $ 90,212 February 12, 2020 Kingswood Crossing Brooklyn NY 110,000 77,077 2020 Total $ 167,289 (1) (1) The total purchase price for the properties acquired during the six months ended June 30, 2020 includes $2.5 million of transaction costs incurred related to the acquisitions. On February 12, 2020, the Company acquired Kingswood Center and Kingswood Crossing for $167.3 million , including transaction costs. The properties are located along Kings Highway in the Midwood neighborhood of Brooklyn, NY and were funded via 1031 exchanges using cash proceeds from dispositions. Additionally, as part of the acquisition of Kingswood Center, the Company assumed a $65.5 million mortgage, which matures in 2028. A portion of the acquisition of Kingswood Crossing was completed as a reverse Section 1031 like-kind exchange. We entered into a reverse Section 1031 like-kind exchange agreement with third-party intermediaries, which, for a maximum of 180 days , allowed us to defer for tax purposes, gains on the sale of other properties identified and sold within the period. Until the earlier of the termination of the exchange agreements or 180 days after the respective acquisition dates, the third-party intermediaries are the legal owner of the properties; however, we controlled the activities that most significantly impact each property and retained all of the economic benefits and risks associated with each property. Therefore, at the date of acquisition, we determined that we were the primary beneficiary of these variable interest entities and consolidated the properties and their operations as of the acquisition date. The aggregate purchase price of the above property acquisitions has been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Debt premium Total Purchase Price (in thousands) Kingswood Center $ 15,690 $ 76,766 $ 9,263 $ (4,534 ) $ (6,973 ) $ 90,212 Kingswood Crossing 8,150 64,159 4,768 — — 77,077 2020 Total $ 23,840 $ 140,925 $ 14,031 $ (4,534 ) $ (6,973 ) $ 167,289 (1) As of June 30, 2020 , the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired were 8.8 years and 11.0 years, respectively. Dispositions During the six months ended June 30, 2020 , we disposed of three properties and received proceeds of $58.1 million , net of selling costs, resulting in a $39.8 million net gain on sale of real estate. The sale of all three dispositions were completed as 1031 exchanges with Kingswood Crossing as a result of the sales occurring within 180 days of the Company’s acquisition. On March 15, 2019, we completed the sale of our property in Chicopee, MA for $18.2 million , net of selling costs, resulting in a $17.0 million gain on sale of real estate recognized during the six months ended June 30, 2019 . On May 14, 2019, we completed the sale of our property in Glen Burnie, MD for $15.6 million , net of selling costs, resulting in a $11.6 million gain on sale of real estate recognized during the three and six months ended June 30, 2019

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	6 Months Ended
	Jun. 30, 2020
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-market leases) and liabilities (acquired below-market leases), net of accumulated amortization were $57.3 million and $128.4 million , respectively, as of June 30, 2020 and $48.1 million and $128.8 million , respectively, as of December 31, 2019 . Amortization of acquired below-market leases, net of acquired above-market leases resulted in additional rental income of $2.2 million and $4.5 million for the three and six months ended June 30, 2020 and $9.4 million and $11.8 million for the same periods in 2019. Amortization of acquired in-place leases inclusive of customer relationships resulted in additional depreciation and amortization expense of $2.2 million and $4.2 million for the three and six months ended June 30, 2020 , and $1.9 million and $4.0 million for the same periods in 2019. The following table sets forth the estimated annual amortization income and expense related to intangible assets and liabilities for the remainder of 2020 and the five succeeding years: (Amounts in thousands) Below-Market Above-Market Year Operating Lease Amortization Operating Lease Amortization In-Place Leases 2020 (1) $ 4,898 $ (513 ) $ (4,360 ) 2021 9,703 (860 ) (7,605 ) 2022 9,627 (495 ) (6,005 ) 2023 9,575 (386 ) (4,859 ) 2024 9,339 (321 ) (4,366 ) 2025 9,167 (142 ) (3,732 ) (1) Remainder of 2020

MORTGAGES PAYABLE

MORTGAGES PAYABLE	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
MORTGAGES PAYABLE	MORTGAGES PAYABLE AND UNSECURED DEBT The following is a summary of mortgages payable as of June 30, 2020 and December 31, 2019 . Interest Rate at June 30, December 31, (Amounts in thousands) Maturity June 30, 2020 2020 2019 First mortgages secured by: Variable rate Cherry Hill (Plaza at Cherry Hill) (1) 5/24/2022 1.77% $ 28,930 $ 28,930 Westfield (One Lincoln Plaza) (1) 5/24/2022 1.77% 4,730 4,730 Woodbridge (Plaza at Woodbridge) (1) 5/25/2022 1.77% 55,340 55,340 Jersey City (Hudson Commons) (2) 11/15/2024 2.07% 28,816 29,000 Watchung (2) 11/15/2024 2.07% 26,828 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 2.07% 25,377 24,500 Total variable rate debt 170,021 169,500 Fixed rate Bergen Town Center - West, Paramus 4/8/2023 3.56% 300,000 300,000 Bronx (Shops at Bruckner) 5/1/2023 3.90% 10,668 10,978 Jersey City (Hudson Mall) (4) 12/1/2023 5.07% 23,264 23,625 Yonkers Gateway Center (5) 4/6/2024 4.16% 29,307 30,122 Las Catalinas (8) 8/6/2024 7.43% 128,822 129,335 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) 4/1/2027 4.18% 100,000 100,000 Manchester 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 23,591 23,798 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge (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 Brooklyn (Kingswood Center) (6) 2/6/2028 5.07% 72,136 — 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 (Freeport Commons) 12/10/2029 4.07% 43,100 43,100 Montehiedra (9) 6/1/2030 5.00% 82,000 83,202 Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco (3) 11/15/2034 6.40% 13,226 13,488 Montehiedra (junior loan) (9) — —% — 30,000 Total fixed rate debt 1,425,214 1,386,748 Total mortgages payable 1,595,235 1,556,248 Unamortized debt issuance costs (10,511 ) (10,053 ) Total mortgages payable, net of unamortized debt issuance costs 1,584,724 1,546,195 Unsecured credit facilities: Revolving credit agreement (7) 1/29/2024 1.22% 250,000 — Total unsecured credit facilities 250,000 — Total debt outstanding $ 1,834,724 $ 1,546,195 (1) Bears interest at one month LIBOR plus 160 bps. The mortgage loans encumbered by these properties were modified during the second quarter of 2020 to contain a payment deferral period from June 1, 2020 through August 1, 2020. (2) Bears interest at one month LIBOR plus 190 bps. The mortgage loans encumbered by these properties were modified during the second quarter of 2020 to contain an interest-only payment period from May 1, 2020 through July 1, 2020. (3) The mortgage payable balance on the loan secured by Mt Kisco includes $0.9 million of unamortized debt discount as of both June 30, 2020 and December 31, 2019 . The effective interest rate including amortization of the debt discount is 7.31% as of June 30, 2020 . (4) The mortgage payable balance on the loan secured by Hudson Mall includes $0.9 million and $1.0 million of unamortized debt premium as of June 30, 2020 and December 31, 2019 , respectively. The effective interest rate including amortization of the debt premium is 3.85% as of June 30, 2020 . (5) The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.5 million and $0.6 million of unamortized debt premium as of June 30, 2020 and December 31, 2019 , respectively. The effective interest rate including amortization of the debt premium is 3.70% as of June 30, 2020 . (6) The mortgage payable balance on the loan secured by Kingswood Center includes $6.6 million of unamortized debt premium as of June 30, 2020 . The effective interest rate including amortization of the debt premium is 3.43% as of June 30, 2020 . (7) Bears interest at one month LIBOR plus 1.05% as of June 30, 2020 . (8) In April 2020, the non-recourse mortgage loan on Las Catalinas Mall was defaulted on and became subject to incremental default interest of 3.00% while the outstanding balance remains unpaid. We currently remain in active negotiations with the special servicer and no determination has been made as to the timing or ultimate resolution of this matter. (9) On June 1, 2020, we refinanced the mortgage secured by The Outlets at Montehiedra in Puerto Rico, whereby the $30 million junior loan plus accrued interest of $5.4 million was forgiven and the senior loan was replaced by a new $82 million 10 -year fixed rate mortgage, bearing interest at 5.0% . The net carrying amount of real estate collateralizing the above indebtedness amounted to approximately $1.3 billion as of June 30, 2020 . Our mortgage loans contain covenants that limit our ability to incur additional indebtedness on these properties and in certain circumstances require lender approval of tenant leases and/or yield maintenance upon repayment prior to maturity. As of June 30, 2020 , we were in compliance with all debt covenants with the exception of those related to our mortgage loan on Las Catalinas Mall. The mortgage on Las Catalinas Mall has been in default since April 2020. As of June 30, 2020 , the principal repayments of the Company’s total outstanding debt for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2020 (1) $ 3,960 2021 12,626 2022 101,822 2023 347,158 2024 530,208 2025 35,321 Thereafter 814,140 (1) Remainder of 2020. Revolving Credit Agreement 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. On July 29, 2019, we entered into a second amendment to the Agreement to extend the maturity date to January 29, 2024 with two six -month extension options. In March 2020, the Company borrowed $250 million under the Agreement. As of June 30, 2020 , $350 million of credit remained available to be drawn. Financing costs associated with executing the Agreement of $3.9 million and $3.9 million as of June 30, 2020 and December 31, 2019, respectively, are included in deferred financing costs, net in the consolidated balance sheets. On June 3, 2020, we entered into a third amendment to the Agreement. The third amendment, among other things, modifies certain definitions and the measurement period for certain financial covenants to a trailing four-quarter period instead of the most recent quarter period annualized. Company borrowings under the Agreement are subject to interest at LIBOR plus 1.05% to 1.50% and an annual facility fee of 15 to 30 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 . Mortgage on The Outlets at Montehiedra During the second quarter of 2020, we completed the refinancing of our non-recourse mortgage on The Outlets at Montehiedra (“Montehiedra”) in Puerto Rico. Prior to the refinancing, the mortgage was comprised of an $83 million senior loan bearing interest at 5.33% and a $30 million junior loan bearing interest at 3.00% , plus total accrued interest of $5.7 million . Under the payoff provisions of the prior mortgage, the $30 million junior loan plus accrued interest of $5.4 million on the junior loan was forgiven and the senior loan was replaced by a new $82 million 10 -year fixed rate mortgage, bearing interest at 5.00% . As a result of the transaction, we recognized a net gain on extinguishment of debt of $34.9 million during the three and six months ended June 30, 2020 , comprised of the forgiven $30 million junior loan plus accrued interest of $5.4 million , offset by the write-off of $0.4 million of unamortized deferred financing fees and $0.1 million of transaction costs incurred. The Company has provided a $12.5 million corporate guarantee if and only when Sears Holding Corporation (“Kmart”) vacates or stops paying rent. The guarantee will be released should certain financial metrics at Montehiedra be achieved even if the Kmart box remains vacant. Irrespective of whether Kmart vacates or stops paying rent, the guarantee amortizes commensurate with the loan amortization schedule and will reduce to zero in approximately six years. Mortgage on Las Catalinas Mall In April 2020, we notified the servicer of the $129 million non-recourse mortgage loan on Las Catalinas Mall in Puerto Rico that cash flow would be insufficient to service the debt and that we were unwilling to fund the shortfalls. Pursuant to the loan agreement, the loan is in default, is subject to incremental default interest, which increased the interest rate from 4.43% to 7.43% while the outstanding balance remains unpaid, and the lender has the ability to accelerate the full loan balance. We have accrued interest of $2.8 million related to this mortgage, which is included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheet as of June 30, 2020. We currently remain in active negotiations with the special servicer and no determination has been made as to the timing or ultimate resolution of this matter. Mortgage on property in Montclair, NJ On August 6, 2020, the Company obtained a 10 -year non-recourse mortgage loan of $7.3 million at a rate of 3.15% on its property in Montclair, NJ.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected to be taxed as a REIT under sections 856-860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the filing of its 2015 tax return for its tax year ended December 31, 2015. To the extent the Company meets certain requirements under the Code, the Company will not be taxed on its federal taxable income. 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, which, for corporations, was repealed under the Tax Cuts and Jobs Act (“TCJA”) and may not be able to qualify as a REIT for the four subsequent taxable years. The Company is subject to certain foreign and state and local income taxes, including on its two Puerto Rico malls, which are included in income tax benefit (expense) in the consolidated statements of income. The Company is also subject to certain other taxes, including state and local franchise taxes which are included in general and administrative expenses in the consolidated statements of income. For U.S. federal income tax purposes, the REIT and other minority members are partners in the Operating Partnership. As such, the partners are required to report their share of taxable income on their respective tax returns. However, during the six months ended June 30, 2020 , certain non-real estate operating activities that could not be performed by the REIT, occurred through the Company’s taxable REIT subsidiary (“TRS”), and the Company’s TRS is subject to federal, state and local income taxes. These income taxes are included in the income tax expense in the consolidated statements of income. On June 1, 2020, the Company completed a mortgage refinancing of its mall in Puerto Rico, The Outlets at Montehiedra. The debt forgiven as a part of this refinancing resulted in a write-down to our Puerto Rico tax basis in the mall equal to such amount of debt forgiven and the recognition of a deferred tax liability on the Company’s consolidated balance sheet of $10.3 million as of June 30, 2020. Refer to Note 6 to the unaudited consolidated financial statements in Part I, Item I of this Quarterly Report on Form 10-Q for further information on the refinancing. On June 5, 2020, the Company completed a legal entity restructuring of Montehiedra. Prior to the legal entity restructuring, our two Puerto Rico malls were held in a special partnership for Puerto Rico tax purposes (the general partner being a qualified REIT subsidiary or “QRS”) and subject to a 29% non-resident withholding tax which is included in income tax benefit (expense) in the consolidated statements of income. The legal entity restructuring resulted in a step up in our Puerto Rico tax basis in Montehiedra and the recognition of a deferred tax asset on the Company’s consolidated balance sheet of $23.7 million as of June 30, 2020. As a result of the legal entity restructuring of Montehiedra, the Operating Partnership, and therefore, the REIT and the other minority partners, will now be deemed to be engaged in a trade or business in Puerto Rico with respect to their allocable share of Montehiedra’s net income and, as such, required to file Puerto Rico income tax returns. The REIT will be subject to regular Puerto Rico corporate income taxes on its allocable share of Montehiedra’s operating activities as opposed to the former 29% non-resident withholding tax on the net income from such operating activities allocated to the Operating Partnership. The Puerto Rico corporate income tax consists of a flat 18.5% tax rate plus a graduated income surcharge tax for a maximum corporate income tax rate of 37.5% . In addition, the REIT is subject to a 10% branch profit tax on the earnings and profits generated from Montehiedra and such tax is included in income tax expense in the consolidated statements of income. Our other Puerto Rico property, Las Catalinas Mall, continues to be taxed as a special partnership and is subject to the 29% non-resident withholding tax. Together, the refinancing and legal entity restructuring transactions resulted in a deferred tax asset, net of $13.4 million and the Company recognized an accompanying income tax benefit on the Company’s consolidated statements of income during the three and six months ended June 30, 2020, respectively. A reduction of the carrying amounts of deferred tax assets by a valuation allowance is required, if based on the evidence available, it is more likely than not (a likelihood of more than 50 percent) that some portion or all of the deferred tax assets will not be realized. As of June 30, 2020, the Company has not recorded a valuation allowance against its deferred tax assets. The Puerto Rico income tax benefit recorded was $13.7 million and $13.6 million for the three and six months ended June 30, 2020, respectively, which is included in income tax benefit (expense) in the consolidated statements of income. For the three and six months ended June 30, 2019 the Puerto Rico income tax expense recorded was $0.9 million and of $1.1 million

LEASES (Notes)

LEASES (Notes)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
LEASES	LEASES All rental revenue was generated from operating leases for the three and six months ended June 30, 2020 and June 30, 2019 , respectively. The components of rental revenue for the three and six months ended June 30, 2020 and June 30, 2019 were as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Rental Revenue Fixed lease revenue $ 51,648 $ 74,896 $ 120,745 $ 143,380 Variable lease revenue 21,617 26,592 45,520 55,416 Total rental revenue $ 73,265 $ 101,488 $ 166,265 $ 198,796

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and December 31, 2019 . 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, mortgages payable and unsecured credit facility borrowings. Cash and cash equivalents are carried at cost, which approximates fair value. The fair values of our mortgages payable and unsecured credit facility borrowings are 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 values of mortgages payable and unsecured credit facility borrowings are classified as Level 2. The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2020 and December 31, 2019 . As of June 30, 2020 As of December 31, 2019 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 615,579 $ 615,579 $ 432,954 $ 432,954 Liabilities: Mortgages payable (1) $ 1,595,235 $ 1,628,764 $ 1,556,248 $ 1,590,503 Unsecured credit facility 250,000 250,000 — — (1) Carrying amounts exclude unamortized debt issuance costs of $10.5 million and $10.1 million as of June 30, 2020 and December 31, 2019 , respectively. Nonfinancial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis We assess the carrying value of our properties for impairment when events or changes in circumstances indicate that the carrying value may not be recoverable. Such events and changes include macroeconomic conditions, including those caused by global pandemics, such as COVID-19, which may result in property operational disruption and indicate that the carrying amount may not be recoverable. No impairment charges were recognized during the three and six months ended June 30, 2020 . During the three months ended June 30, 2019, the Company recognized impairment charges of $18.7 million on two retail properties that the Company intended to market and sell. The impairment loss was calculated as the difference between the assets’ individual carrying values and the estimated aggregated fair values of $28.5 million , less estimated selling costs. We also recognized a $4.0 million impairment charge on an additional property during the three months ended March 31, 2019 as a result of the loss of a significant tenant at the property. The valuation of these properties were based on comparable sale transactions in the properties’ surrounding areas. The Company believes the inputs utilized to measure the fair values were reasonable in the context of applicable market conditions, however due to the significance of the unobservable inputs in the overall fair value measures, including market conditions and expectations for growth, the Company determined that such fair value measurements are classified as Level 3. The impairment charges are included as an expense within casualty and impairment loss, net on our consolidated statements of income for the three and six months ended June 30, 2019 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES There are various legal actions against us in the ordinary course of business. 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 June 30, 2020 , we had approximately $94.7 million of active development, redevelopment and anchor repositioning projects under way, of which $55.8 million remains to be funded. Further, while we have approximately $300 million of projects in our development pipeline, we are under no obligation to execute and fund any of these projects and each of these projects is being reevaluated considering market conditions. The Company has updated many of its active project stabilization dates to reflect the impact of the COVID-19 outbreak on its contractors, tenants and vendors. Insurance The Company maintains (i) general liability insurance with limits of $200 million for properties in the U.S. and Puerto Rico, (ii) all-risk property insurance with limits of $500 million per occurrence and in the aggregate for properties in the U.S. and $147 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, (iii) pollution insurance with limits of $50 million for properties in the U.S. and Puerto Rico and (iv) numerous other insurance policies including trustees’ and officers’ insurance, cyber, workers’ compensation and automobile-related liabilities insurance. The Company’s insurance includes coverage for acts of terrorism 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. The Company’s coverage for certain cybersecurity losses provides first and third-party coverage including network interruption, event management, cyber extortion and claims for media content, security and privacy liability. The Company’s coverage for pollution related losses provides certain remediation and business interruption coverage for specified pollution incidents, which includes the presence of viruses. The Company has filed insurance claims related to COVID-19 and is pursuing available coverage. 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 reimbursable by tenants at our properties, which could be material. We continue to monitor the state of the insurance market and the scope and costs of available coverage. We cannot anticipate what coverage will be available on commercially reasonable terms in the future and expect premiums across most 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. Environmental Matters Each of our properties has been subjected to varying degrees of environmental assessment at various times. Based on these assessments, we have accrued costs of $1.0 million and $2.7 million on our consolidated balance sheets as of June 30, 2020 and December 31, 2019 , respectively, for remediation costs for environmental contamination at certain properties. While this accrual reflects our best estimates of the potential costs of remediation at these properties, there can be no assurance that the actual costs will not exceed these amounts. Although we are not aware of any other material environmental contamination, 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. Tornado-Related Charges On June 13, 2018, a tornado hit our shopping center in Wilkes-Barre, PA, damaging approximately 13% of the property’s gross leasable area. During the three months ended June 30, 2019 , the Company settled the related insurance claim with its carrier for $5.5 million . Of this amount, the Company recognized $4.8 million as a casualty gain in the three months ended June 30, 2019 . As part of the settlement, the Company recognized $0.2 million and $0.3 million as business interruption proceeds within rental revenue for the three and six months ended June 30, 2019, respectively. Hurricane-Related Charges On September 20, 2017, Hurricane Maria made landfall, damaging our two properties in Puerto Rico. During the three months ended June 30, 2019 , the Company reached a settlement agreement with its carrier regarding its final insurance recovery related to Hurricane Maria for $14.3 million , of which $3.3 million was previously received, subject to deductibles of $2.3 million . We recognized an $8.7 million casualty gain in the second quarter of 2019 as a result of the remaining insurance proceeds from the settlement agreement for our two malls in Puerto Rico. Pandemic-Related Contingencies On January 30, 2020, the spread of the COVID-19 outbreak was declared a Public Health Emergency of International Concern by the World Health Organization ("WHO"). On March 11, 2020, WHO characterized the COVID-19 outbreak as a pandemic. During and subsequent to the second quarter, the continually evolving COVID-19 pandemic impacted our tenants and business operations. The Company has taken precautions to protect the safety, health and well-being of its employees and tenants. The Company has concentrated operations in the New York metropolitan area and, although local and state governments implemented various phased reopening plans for nonessential businesses in June and July, the extent and magnitude of the pandemic’s impact to our operations was heightened during the second quarter due to mandated closures caused by the virus. As of August 4, 2020 , 94% of our portfolio's gross leasable area was open for business and the Company collected approximately 72% of second quarter rental revenue billed and 73% of July rental revenue billed. As of August 4, 2020 , the Company granted rent deferrals with an aggregate deferral amount of $0.7 million and a weighted average payback period of approximately seven months . Additionally, as of August 4, 2020 , the Company granted rent abatements with an aggregate abatement amount of $0.1 million . The Company currently remains in active discussions and negotiations with its impacted tenants and anticipates granting further rent concessions or other lease-related relief, such as the deferral of lease payments for a period of time to be paid over the remaining term of the lease. As of August 4, 2020 , tenants representing approximately 49% of total annualized base rent had submitted requests for rent relief. We are evaluating rent relief requests on a case-by-case basis, however not all requests for rent relief may be granted. The Company is not currently aware of any other loss contingencies related to the COVID-19 pandemic that would require recognition at this time, with the exception of abatements already discussed with tenants. The Company is closely monitoring changes in the collectibility assessment of its tenant receivables as a result of certain tenants suffering adverse financial consequences due to COVID-19. During the three and six months ended June 30, 2020 , the Company recognized a write-off of $6.0 million related to receivables arising from the straight-lining of rents as a result of tenants impacted by COVID-19 and recognized $12.5 million and $13.9 million , respectively, as rental revenue deemed uncollectible (classified within rental revenue) based on our assessment of the probability of collecting substantially all of the remaining rents for certain tenants. Bankruptcies Although our rental revenue is supported by long-term leases, leases may be rejected in a bankruptcy proceeding and the related tenant stores may permanently vacate prior to lease expiration. In the event a tenant with a significant number of leases or square footage in our shopping centers files for bankruptcy and rejects its leases with us, we could experience a reduction in our revenues. We monitor the operating performance and rent collections of all tenants in our shopping centers, especially those tenants in arrears or operating retail formats that are experiencing significant changes in competition, business practice, or store closings in other locations. Given the economic environment brought upon by COVID-19, certain tenants underwent liquidity hardships and filed for Chapter 11 bankruptcy protection in the second quarter. Although some of these tenants intend to exit the Chapter 11 bankruptcy process and resume operations, the outcomes of such proceedings are unknown and the Company is currently exploring leasing alternatives for these spaces. Specifically, 24 Hour Fitness USA, Inc. (“24 Hour Fitness”) filed for Chapter 11 bankruptcy protection on June 15, 2020. Prior to vacating, the Company had one lease with 24 Hour Fitness in Paramus, NJ comprising approximately 54,000 sf, which generated $3.1 million in annual rental revenue. In connection with the bankruptcy, the Company recognized a write-off of $3.5 million of receivables arising from the straight-lining of rents and recognized $0.8 million as rental revenue deemed uncollectible (classified within rental revenue) for the three and six months ended June 30, 2020

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2020 December 31, 2019 Other assets $ 7,491 $ 7,460 Deferred tax asset, net (1) 9,152 — Real estate held for sale — 6,574 Deposits for acquisitions — 10,000 Prepaid expenses: Real estate taxes 4,438 6,491 Insurance 5,018 1,520 Licenses/fees 1,389 1,655 Total Prepaid expenses and other assets $ 27,488 $ 33,700 (1) The balance as of June 30, 2020 comprises the deferred tax asset, net of $13.4 million resulting from the refinancing and restructuring transactions, which occurred at the Company's mall in Puerto Rico, The Outlets at Montehiedra, in June 2020, offset by the property’s preexisting deferred tax liability, net balance of $4.2 million

ACCOUNTS PAYABLE, ACCRUED EXPEN

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES The following is a summary of the composition of accounts payable, accrued expenses other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2020 December 31, 2019 Deferred tenant revenue $ 22,161 $ 26,224 Accrued interest payable 7,523 9,729 Accrued capital expenditures and leasing costs 8,455 7,893 Security deposits 6,248 5,814 Deferred tax liability, net (1) 715 5,137 Accrued payroll expenses 4,086 5,851 Other liabilities and accrued expenses 9,186 15,996 Total accounts payable, accrued expenses and other liabilities $ 58,374 $ 76,644 (1) The balance as of December 31, 2019 comprises the deferred tax liabilities, net in connection with the Company’s two malls in Puerto Rico, with a $4.0 million net liability resulting from The Outlets at Montehiedra and $1.1 million

INTEREST AND DEBT EXPENSE

INTEREST AND DEBT EXPENSE	6 Months Ended
	Jun. 30, 2020
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 in the consolidated statements of income: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Interest expense $ 17,869 $ 15,752 $ 34,338 $ 31,568 Amortization of deferred financing costs 704 720 1,410 1,440 Total Interest and debt expense $ 18,573 $ 16,472 $ 35,748 $ 33,008

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	6 Months Ended
	Jun. 30, 2020
Noncontrolling Interest [Abstract]
EQUITY AND NONCONTROLLING INTEREST	EQUITY AND NONCONTROLLING INTEREST Share Repurchase Program In March 2020, the Company’s Board of Trustees authorized a share repurchase program for up to $200 million of the Company’s common shares. Under the program, the Company may repurchase its shares from time to time in the open market or in privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18. The amount and timing of the purchases will depend on a number of factors including the price and availability of the Company’s shares, trading volume and general market conditions. The share repurchase program does not obligate the Company to acquire any particular amount of common shares and may be suspended or discontinued at any time at the Company’s discretion. During the quarter, the Company repurchased 1.4 million common shares at a weighted average share price of $7.98 for a total of $11.3 million . Cumulative total purchases since inception are 5.9 million shares at a weighted average share price of $9.22 amounting to an investment of $54.1 million . Dividends and Distributions In the second quarter, we temporarily suspended our dividend as a result of the COVID-19 pandemic and resulting uncertainty, and as such, no dividends were declared on our common shares or OP units during the three months ended June 30, 2020. During the three months ended June 30, 2019 , the Company declared distributions on our common shares and OP units of $0.22 per share/unit. During the six months ended June 30, 2020 and 2019 , respectively, the Company declared distributions on our common shares and OP units of $0.22 and $0.44 per share/unit in the aggregate. Noncontrolling Interests in Operating Partnership Noncontrolling interests in the Operating Partnership 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. LTIP unit awards were granted to certain executives pursuant to our 2015 Omnibus Share Plan (the “Omnibus Share Plan”) and our 2018 Inducement Equity Plan (the “Inducement Plan”). OP units were issued to contributors in exchange for their property interests in connection with the Company’s property acquisitions in 2017. The total of the OP units and LTIP units represent a 4.0% and 4.2% weighted-average interest in the Operating Partnership for the three and six months ended June 30, 2020 , respectively. Holders of outstanding vested LTIP units may, from and after two years from the date of issuance, redeem their LTIP units for cash, or for the Company’s common shares on a one -for-one basis, solely at our election. Holders of outstanding OP units may redeem their units for cash or the Company’s common shares on a one -for-one basis, solely at our election. In connection with the separation from Vornado Realty L.P. (“VRLP”), the Company issued 5.7 million OP units, which represented a 5.4% interest in the Operating Partnership, to VRLP in exchange for interests in VRLP properties contributed by VRLP. On February 28, 2019, the Company issued 5.7 million common shares to VRLP, in exchange for an equal number of OP units after receiving a notice of redemption from VRLP. The issuance is exempt from registration in reliance upon Section 4(a)(2) of the Securities Act of 1933, as amended, on the basis that no public offering was made. Noncontrolling Interest in Consolidated Subsidiaries The noncontrolling interest relates to the 5%

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Share-Based Compensation Expense Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Share-based compensation expense components: Restricted share expense $ 194 $ 336 $ 454 $ 1,087 Stock option expense 3,259 999 4,127 2,070 LTIP expense (1) 4,117 995 5,300 2,203 Performance-based LTI expense (2) 1,027 923 1,942 1,487 Deferred share unit (“DSU”) expense 14 42 36 112 Total Share-based compensation expense $ 8,611 $ 3,295 $ 11,859 $ 6,959 (1) LTIP expense includes the time-based portion of the 2018, 2019 and 2020 LTI Plans. (2) Performance-based LTI expense includes the 2015 and 2017 OPP plans and the performance-based portion of the 2018, 2019 and 2020 LTI Plans. The total share-based compensation expense recognized for the three and six months ended June 30, 2020 includes $5.6 million of accelerated amortization of unvested equity awards in connection with the executive transition of our former President of Development and the amount for the six months ended June 30, 2019 includes $0.4 million of accelerated amortization of unvested equity awards in connection with the executive transition of our former Chief Operating Officer. Equity award activity during the six months ended June 30, 2020 included: (i) 2,208,304 stock options vested, (ii) 297,195 LTIP units granted, (iii) 341,022 LTIP units vested, (iv) 50,285 restricted shares vested and (v) 31,679 restricted shares granted. 2020 Long-Term Incentive Plan On February 20, 2020, the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2020 Long-Term Incentive Plan (“2020 LTI Plan”). The Plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units that vest based on (i) the passage of time (one-third of the fair value of the program) and (ii) performance goals tied to our relative and absolute total shareholder return (“TSR”) during the three-year performance period following their grant (two-thirds of the fair value of the program). The total grant date fair value under the 2020 LTI Plan was $8.8 million

EARNINGS PER SHARE AND UNIT

EARNINGS PER SHARE AND UNIT	6 Months Ended
	Jun. 30, 2020
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 June 30, Six Months Ended June 30, (Amounts in thousands, except per share amounts) 2020 2019 2020 2019 Numerator: Net income attributable to common shareholders $ 31,255 $ 26,571 $ 80,235 $ 52,108 Less: Earnings allocated to unvested participating securities (19 ) (22 ) (54 ) (45 ) Net income available for common shareholders - basic $ 31,236 $ 26,549 $ 80,181 $ 52,063 Impact of assumed conversions: OP and LTIP units — — 525 — Net income available for common shareholders - dilutive $ 31,236 $ 26,549 $ 80,706 $ 52,063 Denominator: Weighted average common shares outstanding - basic 116,522 120,364 118,744 118,330 Effect of dilutive securities (1) : Restricted share awards 73 97 79 106 Assumed conversion of OP and LTIP units — — 784 — Weighted average common shares outstanding - diluted 116,595 120,461 119,607 118,436 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.27 $ 0.22 $ 0.68 $ 0.44 Earnings per common share - Diluted $ 0.27 $ 0.22 $ 0.67 $ 0.44 ( 1) For the three and six months ended June 30, 2019 and the three months ended June 30, 2020, 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 this period. Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per unit amounts) 2020 2019 2020 2019 Numerator: Net income attributable to unitholders $ 32,545 $ 28,089 $ 83,833 $ 55,981 Less: net income attributable to participating securities (19 ) (23 ) (54 ) (47 ) Net income available for unitholders $ 32,526 $ 28,066 $ 83,779 $ 55,934 Denominator: Weighted average units outstanding - basic 120,535 126,478 123,190 126,442 Effect of dilutive securities issued by Urban Edge 72 97 79 106 Unvested LTIP units 800 5 813 6 Weighted average units outstanding - diluted 121,407 126,580 124,082 126,554 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.27 $ 0.22 $ 0.68 $ 0.44 Earnings per unit - Diluted $ 0.27 $ 0.22 $ 0.68 $ 0.44

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Accounting	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions of Form 10-Q. Certain information and footnote disclosures included in our annual financial statements have been condensed or omitted. In the opinion of management, the consolidated financial statements contain all adjustments, consisting of normal recurring accruals, necessary to present fairly the financial position of the Company and the Operating Partnership and the results of operations and cash flows for the interim periods presented. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2020 . 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, 2019 , as filed with the Securities Exchange Commission (“SEC”).
Consolidation and Noncontrolling Interests	The consolidated balance sheets as of June 30, 2020 and December 31, 2019 reflect the consolidation of wholly-owned subsidiaries and those entities in which we have a controlling financial interest. The consolidated statements of income for the three and six months ended June 30, 2020 and 2019 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 — Effective for the fiscal period beginning January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses . In connection with the adoption of ASU 2016-03, we also adopted (i) ASU 2018-19 Codification Improvements to ASC 326, Financial Instruments - Credit Losses, (ii) ASU 2019-04, Codification Improvements to ASC 326, Financial Statements - Credit Losses, Topic 815, Derivatives and Hedging and Topic 825, Financial Instruments , ( iii) ASU 2019-05 Financial Instruments - Credit Losses (ASC 326): Targeted Transition Relief and (iv) ASU 2019-11 Codification Improvements to ASC 326, Financial Instruments - Credit Losses. ASU 2016-13 introduces a new model for estimating credit losses for certain types of financial instruments and also modifies the impairment model with new methodology for estimating credits losses. In November 2018, the FASB issued ASU 2018-19 Codification Improvements to Topic 326, Financial Instruments — Credit Losses , which included amendments to clarify receivables arising from operating leases are within the scope ASC 842 Leases . Due to the adoption of ASC 842 on January 1, 2019, the Company includes rental revenue deemed uncollectible as a reduction to rental revenue in "Rental revenue" in the consolidated statements of income . As of June 30, 2020 , the Company did not have any outstanding financial instruments. The adoption of ASU 2016-13 has had no impact to our consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12 Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects of the income tax accounting. ASU 2019-12 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. We are currently evaluating the impact ASU 2019-12 may have to our consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. We currently do not anticipate the need to modify our existing debt agreements as a result of reference rate reform, however if any modification is executed as a result of reference rate reform, the Company will elect the optional expedient available under ASU 2020-04, which allows entities to account for the modification as if the modification was not substantial. We will disclose the nature of and reason for electing the optional expedient in each interim and annual financial statement period if and when application through December 31, 2022. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect not to evaluate whether lease-related relief that lessors provide to mitigate the economic effects of COVID-19 on lessees is a lease modification under ASC 842. Instead, when the cash flows resulting from the lease concession granted for COVID-19 rent relief are substantially the same or less than the cash flows of the original contract, an entity can then elect whether to apply the modification guidance (i.e. assume the relief was always contemplated by the contract or assume the relief was not contemplated by the contract). The FASB expects that there will be multiple ways to account for deferrals, none of which the FASB believes are more preferable than the others. Two of those methods are: (i) account for the concessions as if no changes to the lease contract were made; under that accounting, a lessor would increase its lease receivable and continue to recognize income, referred to as the (“receivable approach”); or (ii) account for the deferred payments or abatements as variable lease payments; under that accounting, a lessor would recognize the payment as income in profit or loss in the period in which the changes in facts and circumstances on which the variable lease payments are based occurred, referred to as the (“variable approach”). The Company is evaluating its election on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. As of August 4, 2020 , the Company granted rent deferrals with an aggregate deferral amount of $0.7 million , with $0.5 million accounted for under the receivable approach by electing the Lease Modification Q&A and $0.2 million accounted for as modifications due to term extensions of the leases. The Company also granted abatements with an aggregate abatement amount of $0.1 million as of August 4, 2020 , which were accounted for under the variable approach and are not considered modifications by electing the Lease Modification Q&A. The Company remains in active discussions with its impacted tenants to grant further concessions. The full future impact of the Lease Modification Q&A is dependent upon the extent of lease concessions granted to tenants as a result of COVID-19 and the elections made by the Company at the time of entering into such concessions. Refer to Note 10 to the unaudited consolidated financial statements in Part I, Item I of this Quarterly Report on Form 10-Q. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they are not relevant to the Company or the Operating Partnership, or they are not expected to have a material impact on our consolidated financial statements.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	During the six months ended June 30, 2019 , no acquisitions were completed by the Company. During the six months ended June 30, 2020 , we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) February 12, 2020 Kingswood Center Brooklyn NY 130,000 $ 90,212 February 12, 2020 Kingswood Crossing Brooklyn NY 110,000 77,077 2020 Total $ 167,289 (1) (1) The total purchase price for the properties acquired during the six months ended June 30, 2020 includes $2.5 million of transaction costs incurred related to the acquisitions.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The aggregate purchase price of the above property acquisitions has been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Debt premium Total Purchase Price (in thousands) Kingswood Center $ 15,690 $ 76,766 $ 9,263 $ (4,534 ) $ (6,973 ) $ 90,212 Kingswood Crossing 8,150 64,159 4,768 — — 77,077 2020 Total $ 23,840 $ 140,925 $ 14,031 $ (4,534 ) $ (6,973 ) $ 167,289 (1) As of June 30, 2020 , the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired were 8.8 years and 11.0 years, respectively.

IDENTIFIED INTANGIBLE ASSETS _2

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Estimated Annual Amortization Expense	The following table sets forth the estimated annual amortization income and expense related to intangible assets and liabilities for the remainder of 2020 and the five succeeding years: (Amounts in thousands) Below-Market Above-Market Year Operating Lease Amortization Operating Lease Amortization In-Place Leases 2020 (1) $ 4,898 $ (513 ) $ (4,360 ) 2021 9,703 (860 ) (7,605 ) 2022 9,627 (495 ) (6,005 ) 2023 9,575 (386 ) (4,859 ) 2024 9,339 (321 ) (4,366 ) 2025 9,167 (142 ) (3,732 ) (1) Remainder of 2020 .

MORTGAGES PAYABLE (Tables)

MORTGAGES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Mortgages Payable	The following is a summary of mortgages payable as of June 30, 2020 and December 31, 2019 . Interest Rate at June 30, December 31, (Amounts in thousands) Maturity June 30, 2020 2020 2019 First mortgages secured by: Variable rate Cherry Hill (Plaza at Cherry Hill) (1) 5/24/2022 1.77% $ 28,930 $ 28,930 Westfield (One Lincoln Plaza) (1) 5/24/2022 1.77% 4,730 4,730 Woodbridge (Plaza at Woodbridge) (1) 5/25/2022 1.77% 55,340 55,340 Jersey City (Hudson Commons) (2) 11/15/2024 2.07% 28,816 29,000 Watchung (2) 11/15/2024 2.07% 26,828 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 2.07% 25,377 24,500 Total variable rate debt 170,021 169,500 Fixed rate Bergen Town Center - West, Paramus 4/8/2023 3.56% 300,000 300,000 Bronx (Shops at Bruckner) 5/1/2023 3.90% 10,668 10,978 Jersey City (Hudson Mall) (4) 12/1/2023 5.07% 23,264 23,625 Yonkers Gateway Center (5) 4/6/2024 4.16% 29,307 30,122 Las Catalinas (8) 8/6/2024 7.43% 128,822 129,335 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) 4/1/2027 4.18% 100,000 100,000 Manchester 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 23,591 23,798 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge (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 Brooklyn (Kingswood Center) (6) 2/6/2028 5.07% 72,136 — 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 (Freeport Commons) 12/10/2029 4.07% 43,100 43,100 Montehiedra (9) 6/1/2030 5.00% 82,000 83,202 Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco (3) 11/15/2034 6.40% 13,226 13,488 Montehiedra (junior loan) (9) — —% — 30,000 Total fixed rate debt 1,425,214 1,386,748 Total mortgages payable 1,595,235 1,556,248 Unamortized debt issuance costs (10,511 ) (10,053 ) Total mortgages payable, net of unamortized debt issuance costs 1,584,724 1,546,195 Unsecured credit facilities: Revolving credit agreement (7) 1/29/2024 1.22% 250,000 — Total unsecured credit facilities 250,000 — Total debt outstanding $ 1,834,724 $ 1,546,195 (1) Bears interest at one month LIBOR plus 160 bps. The mortgage loans encumbered by these properties were modified during the second quarter of 2020 to contain a payment deferral period from June 1, 2020 through August 1, 2020. (2) Bears interest at one month LIBOR plus 190 bps. The mortgage loans encumbered by these properties were modified during the second quarter of 2020 to contain an interest-only payment period from May 1, 2020 through July 1, 2020. (3) The mortgage payable balance on the loan secured by Mt Kisco includes $0.9 million of unamortized debt discount as of both June 30, 2020 and December 31, 2019 . The effective interest rate including amortization of the debt discount is 7.31% as of June 30, 2020 . (4) The mortgage payable balance on the loan secured by Hudson Mall includes $0.9 million and $1.0 million of unamortized debt premium as of June 30, 2020 and December 31, 2019 , respectively. The effective interest rate including amortization of the debt premium is 3.85% as of June 30, 2020 . (5) The mortgage payable balance on the loan secured by Yonkers Gateway Center includes $0.5 million and $0.6 million of unamortized debt premium as of June 30, 2020 and December 31, 2019 , respectively. The effective interest rate including amortization of the debt premium is 3.70% as of June 30, 2020 . (6) The mortgage payable balance on the loan secured by Kingswood Center includes $6.6 million of unamortized debt premium as of June 30, 2020 . The effective interest rate including amortization of the debt premium is 3.43% as of June 30, 2020 . (7) Bears interest at one month LIBOR plus 1.05% as of June 30, 2020 . (8) In April 2020, the non-recourse mortgage loan on Las Catalinas Mall was defaulted on and became subject to incremental default interest of 3.00% while the outstanding balance remains unpaid. We currently remain in active negotiations with the special servicer and no determination has been made as to the timing or ultimate resolution of this matter. (9) On June 1, 2020, we refinanced the mortgage secured by The Outlets at Montehiedra in Puerto Rico, whereby the $30 million junior loan plus accrued interest of $5.4 million was forgiven and the senior loan was replaced by a new $82 million 10 -year fixed rate mortgage, bearing interest at 5.0% .
Schedule of Principal Repayments	As of June 30, 2020 , the principal repayments of the Company’s total outstanding debt for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2020 (1) $ 3,960 2021 12,626 2022 101,822 2023 347,158 2024 530,208 2025 35,321 Thereafter 814,140 (1) Remainder of 2020.

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Components of Rental Revenue	The components of rental revenue for the three and six months ended June 30, 2020 and June 30, 2019 were as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Rental Revenue Fixed lease revenue $ 51,648 $ 74,896 $ 120,745 $ 143,380 Variable lease revenue 21,617 26,592 45,520 55,416 Total rental revenue $ 73,265 $ 101,488 $ 166,265 $ 198,796

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Instrument Carrying Amounts and Fair Values	The table below summarizes the carrying amounts and fair value of these financial instruments as of June 30, 2020 and December 31, 2019 . As of June 30, 2020 As of December 31, 2019 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 615,579 $ 615,579 $ 432,954 $ 432,954 Liabilities: Mortgages payable (1) $ 1,595,235 $ 1,628,764 $ 1,556,248 $ 1,590,503 Unsecured credit facility 250,000 250,000 — — (1) Carrying amounts exclude unamortized debt issuance costs of $10.5 million and $10.1 million as of June 30, 2020 and December 31, 2019 , respectively.

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Composition of Prepaid Expenses and Other Assets	The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2020 December 31, 2019 Other assets $ 7,491 $ 7,460 Deferred tax asset, net (1) 9,152 — Real estate held for sale — 6,574 Deposits for acquisitions — 10,000 Prepaid expenses: Real estate taxes 4,438 6,491 Insurance 5,018 1,520 Licenses/fees 1,389 1,655 Total Prepaid expenses and other assets $ 27,488 $ 33,700 (1) The balance as of June 30, 2020 comprises the deferred tax asset, net of $13.4 million resulting from the refinancing and restructuring transactions, which occurred at the Company's mall in Puerto Rico, The Outlets at Montehiedra, in June 2020, offset by the property’s preexisting deferred tax liability, net balance of $4.2 million

ACCOUNTS PAYABLE, ACCRUED EXP_2

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2020
Other Liabilities Disclosure [Abstract]
Schedule of Composition of Accounts Payable, Accrued Expenses and Other Liabilites	The following is a summary of the composition of accounts payable, accrued expenses other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) June 30, 2020 December 31, 2019 Deferred tenant revenue $ 22,161 $ 26,224 Accrued interest payable 7,523 9,729 Accrued capital expenditures and leasing costs 8,455 7,893 Security deposits 6,248 5,814 Deferred tax liability, net (1) 715 5,137 Accrued payroll expenses 4,086 5,851 Other liabilities and accrued expenses 9,186 15,996 Total accounts payable, accrued expenses and other liabilities $ 58,374 $ 76,644 (1) The balance as of December 31, 2019 comprises the deferred tax liabilities, net in connection with the Company’s two malls in Puerto Rico, with a $4.0 million net liability resulting from The Outlets at Montehiedra and $1.1 million

INTEREST AND DEBT EXPENSE (Tabl

INTEREST AND DEBT EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2020
Other Income and Expenses [Abstract]
Schedule of Interest and Debt Expense	The following table sets forth the details of interest and debt expense in the consolidated statements of income: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Interest expense $ 17,869 $ 15,752 $ 34,338 $ 31,568 Amortization of deferred financing costs 704 720 1,410 1,440 Total Interest and debt expense $ 18,573 $ 16,472 $ 35,748 $ 33,008

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Share-based Compensation Expense	Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands) 2020 2019 2020 2019 Share-based compensation expense components: Restricted share expense $ 194 $ 336 $ 454 $ 1,087 Stock option expense 3,259 999 4,127 2,070 LTIP expense (1) 4,117 995 5,300 2,203 Performance-based LTI expense (2) 1,027 923 1,942 1,487 Deferred share unit (“DSU”) expense 14 42 36 112 Total Share-based compensation expense $ 8,611 $ 3,295 $ 11,859 $ 6,959 (1) LTIP expense includes the time-based portion of the 2018, 2019 and 2020 LTI Plans. (2) Performance-based LTI expense includes the 2015 and 2017 OPP plans and the performance-based portion of the 2018, 2019 and 2020 LTI Plans.

EARNINGS PER SHARE AND UNIT (Ta

EARNINGS PER SHARE AND UNIT (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Share and Unit	The following table sets forth the computation of our basic and diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per share amounts) 2020 2019 2020 2019 Numerator: Net income attributable to common shareholders $ 31,255 $ 26,571 $ 80,235 $ 52,108 Less: Earnings allocated to unvested participating securities (19 ) (22 ) (54 ) (45 ) Net income available for common shareholders - basic $ 31,236 $ 26,549 $ 80,181 $ 52,063 Impact of assumed conversions: OP and LTIP units — — 525 — Net income available for common shareholders - dilutive $ 31,236 $ 26,549 $ 80,706 $ 52,063 Denominator: Weighted average common shares outstanding - basic 116,522 120,364 118,744 118,330 Effect of dilutive securities (1) : Restricted share awards 73 97 79 106 Assumed conversion of OP and LTIP units — — 784 — Weighted average common shares outstanding - diluted 116,595 120,461 119,607 118,436 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.27 $ 0.22 $ 0.68 $ 0.44 Earnings per common share - Diluted $ 0.27 $ 0.22 $ 0.67 $ 0.44 ( 1) For the three and six months ended June 30, 2019 and the three months ended June 30, 2020, 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 this period. Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Three Months Ended June 30, Six Months Ended June 30, (Amounts in thousands, except per unit amounts) 2020 2019 2020 2019 Numerator: Net income attributable to unitholders $ 32,545 $ 28,089 $ 83,833 $ 55,981 Less: net income attributable to participating securities (19 ) (23 ) (54 ) (47 ) Net income available for unitholders $ 32,526 $ 28,066 $ 83,779 $ 55,934 Denominator: Weighted average units outstanding - basic 120,535 126,478 123,190 126,442 Effect of dilutive securities issued by Urban Edge 72 97 79 106 Unvested LTIP units 800 5 813 6 Weighted average units outstanding - diluted 121,407 126,580 124,082 126,554 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.27 $ 0.22 $ 0.68 $ 0.44 Earnings per unit - Diluted $ 0.27 $ 0.22 $ 0.68 $ 0.44

ORGANIZATION (Details)

ORGANIZATION (Details) ft² in Millions	6 Months Ended
	Jun. 30, 2020ft²property
Real Estate Properties [Line Items]
Area of real estate property (in sq ft) | ft²	15.1
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	73
Wholly owned properties | Mall
Real Estate Properties [Line Items]
Number of real estate properties	4
Operating Partnership | Parent | Vornado Realty L.P.
Real Estate Properties [Line Items]
Noncontrolling interest percentage	96.10%

BASIS OF PRESENTATION AND PRI_2

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION (Details)	6 Months Ended
	Jun. 30, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Aug. 04, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Rental revenue deemed uncollectible		$ (13,079)	$ (773)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation		1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Life Used for Depreciation		40 years
COVID-19
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit loss, writeoff	$ 6,000
Rental revenue deemed uncollectible	$ (12,500)	$ (13,900)
Subsequent Event | COVID-19
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Rent deferrals granted, amount				$ 700
Rent deferrals granted under lease modification method				500
Rent deferrals granted with lease term modifications				200
Abatements granted, aggregate amount				$ 100

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS (Details) $ in Thousands	Feb. 12, 2020USD ($)	May 14, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)property	Jun. 30, 2019USD ($)	Mar. 15, 2020USD ($)
Business Acquisition [Line Items]
Purchase price			$ 167,289		$ 167,289
Number of acquisitions completed by the Company					0
Gain on sale of real estate			0	$ 11,550	$ 39,775	$ 28,503
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of disposed properties | property					3
Aggregate sale price of disposed properties					$ 58,100
Gain on sale of real estate					(39,800)
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Glen Burnie, MD [Member]
Business Acquisition [Line Items]
Gain on sale of real estate		$ 11,600
Disposal group, including discontinued operation, consideration		$ 15,600
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Chicopee, MA
Business Acquisition [Line Items]
Gain on sale of real estate						$ 17,000
Disposal group, including discontinued operation, consideration							$ 18,200
Kingswood Center And Kingswood Crossing
Business Acquisition [Line Items]
Purchase price			167,300		167,300
Purchase price of real estate property acquired					167,289
Kingswood Center
Business Acquisition [Line Items]
Purchase price			90,212		90,212
Purchase price of real estate property acquired	$ 90,212
Kingswood Crossing
Business Acquisition [Line Items]
Purchase price			77,077		$ 77,077
Purchase price of real estate property acquired	$ 77,077
Reverse Section 1031 like-kind exchange, term					180 days
Mortgages | Kingswood Center
Business Acquisition [Line Items]
Mortgage loan related to property sales			$ 65,500		$ 65,500

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Summary of Acquisition Activity (Details) $ in Thousands	Feb. 12, 2020USD ($)ft²	May 14, 2019USD ($)	Jun. 30, 2020USD ($)ft²	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)ft²	Jun. 30, 2019USD ($)	Mar. 15, 2020USD ($)
Business Acquisition [Line Items]
Gain on sale of real estate			$ 0	$ 11,550	$ 39,775	$ 28,503
Area of real estate property (in sq ft) | ft²			15,100,000		15,100,000
Purchase price			$ 167,289		$ 167,289
Transaction costs			2,500		2,500
Kingswood Center
Business Acquisition [Line Items]
Area of real estate property (in sq ft) | ft²	130,000
Purchase price			90,212		90,212
Purchase Price	$ 90,212
Kingswood Crossing
Business Acquisition [Line Items]
Area of real estate property (in sq ft) | ft²	110,000
Purchase price			$ 77,077		77,077
Purchase Price	$ 77,077
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Gain on sale of real estate					$ (39,800)
Chicopee, MA | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Disposal group, including discontinued operation, consideration							$ 18,200
Gain on sale of real estate						$ 17,000
Glen Burnie, MD [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Disposal group, including discontinued operation, consideration		$ 15,600
Gain on sale of real estate		$ 11,600

ACQUISITIONS AND DISPOSITIONS_3

ACQUISITIONS AND DISPOSITIONS - Aggregate Purchase Price Allocations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020USD ($)
Business Acquisition [Line Items]
Land	$ 23,840
Buildings and improvements	140,925
Identified intangible assets	14,031
Identified intangible liabilities	(4,534)
Debt premium	(6,973)
Total Purchase Price	$ 167,289
Weighted average useful life	8 years 9 months 18 days
Weighted average related liabilities	11 years
Kingswood Center
Business Acquisition [Line Items]
Land	$ 15,690
Buildings and improvements	76,766
Identified intangible assets	9,263
Identified intangible liabilities	(4,534)
Debt premium	(6,973)
Total Purchase Price	90,212
Kingswood Crossing
Business Acquisition [Line Items]
Land	8,150
Buildings and improvements	64,159
Identified intangible assets	4,768
Identified intangible liabilities	0
Debt premium	0
Total Purchase Price	$ 77,077

IDENTIFIED INTANGIBLE ASSETS _3

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Identified intangible assets, net of accumulated amortization	$ 57,332		$ 57,332		$ 48,121
Identified intangible liabilities, net of accumulated amortization	128,371		128,371		$ 128,830
Amortization of acquired below-market leases, net of above-market leases	2,200	$ 9,400	4,500	$ 11,800
Amortization expense of intangible assets	$ 2,200	$ 1,900	$ 4,200	$ 4,000

IDENTIFIED INTANGIBLE ASSETS _4

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Schedule of Estimated Annual Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired below-market leases, net of above-market leases	$ 2,200	$ 9,400	$ 4,500	$ 11,800
Below-Market Operating Lease Amortization
Reminder of 2019	4,898		4,898
2019	9,703		9,703
2020	9,627		9,627
2021	9,575		9,575
2022	9,339		9,339
2024	9,167		9,167
In-Place Leases
Amortization of Intangible Assets	2,200	$ 1,900	4,200	$ 4,000
Above-Market
Above-Market Operating Lease Amortization
Remainder of 2019	(513)		(513)
2020	(860)		(860)
2021	(495)		(495)
2022	(386)		(386)
2023	(321)		(321)
2024	(142)		(142)
In-Place Leases
Remainder of 2019	(513)		(513)
2020	(860)		(860)
2021	(495)		(495)
2022	(386)		(386)
2023	(321)		(321)
2024	(142)		(142)
In-Place Leases
Above-Market Operating Lease Amortization
Remainder of 2019	(4,360)		(4,360)
2020	(7,605)		(7,605)
2021	(6,005)		(6,005)
2022	(4,859)		(4,859)
2023	(4,366)		(4,366)
2024	(3,732)		(3,732)
In-Place Leases
Remainder of 2019	(4,360)		(4,360)
2020	(7,605)		(7,605)
2021	(6,005)		(6,005)
2022	(4,859)		(4,859)
2023	(4,366)		(4,366)
2024	$ (3,732)		$ (3,732)

MORTGAGES PAYABLE - Summary of

MORTGAGES PAYABLE - Summary of Mortgages Payable (Details) - USD ($)	Jun. 01, 2020	May 31, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Apr. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total mortgages payable, net of unamortized debt issuance costs			$ 1,834,724,000	$ 1,834,724,000				$ 1,546,195,000
Long-term debt, amount forgiven				$ 30,000,000	$ 0
Mortgages | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate	5.00%	5.33%	5.00%	5.00%
Total mortgages payable	$ 82,000,000	$ 83,000,000	$ 82,000,000	$ 82,000,000
Debt instrument, term	10 years		10 years
Mortgages | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate			3.00%	3.00%
Total mortgages payable	$ 30,000,000
Long-term debt, amount forgiven	30,000,000		$ 30,000,000
Accrued interest, decrease, forgiveness	$ 5,400,000
Accrued interest		$ 5,700,000	5,400,000
Mortgages | First Mortgage
Debt Instrument [Line Items]
Long-term Debt, Gross			1,595,235,000	$ 1,595,235,000				1,556,248,000
Unamortized debt issuance costs			(10,511,000)	(10,511,000)				(10,053,000)
Total mortgages payable, net of unamortized debt issuance costs			1,584,724,000	1,584,724,000				1,546,195,000
Mortgages | First Mortgage | Variable rate
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 170,021,000	$ 170,021,000				169,500,000
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill
Debt Instrument [Line Items]
Interest rate			1.77%	1.77%
Long-term Debt, Gross			$ 28,930,000	$ 28,930,000				28,930,000
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			1.77%	1.77%
Long-term Debt, Gross			$ 4,730,000	$ 4,730,000				4,730,000
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			1.77%	1.77%
Long-term Debt, Gross			$ 55,340,000	$ 55,340,000				55,340,000
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			2.07%	2.07%
Long-term Debt, Gross			$ 28,816,000	$ 28,816,000				29,000,000
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			2.07%	2.07%
Long-term Debt, Gross			$ 26,828,000	$ 26,828,000				27,000,000
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			2.07%	2.07%
Long-term Debt, Gross			$ 25,377,000	$ 25,377,000				24,500,000
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]
Long-term Debt, Gross			$ 1,425,214,000	$ 1,425,214,000				1,386,748,000
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate			5.00%	5.00%
Long-term Debt, Gross			$ 82,000,000	$ 82,000,000				83,202,000
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate			0.00%	0.00%
Long-term Debt, Gross			$ 0	$ 0				30,000,000
Mortgages | First Mortgage | Fixed rate | Bergen Town Center
Debt Instrument [Line Items]
Interest rate			3.56%	3.56%
Long-term Debt, Gross			$ 300,000,000	$ 300,000,000				300,000,000
Mortgages | First Mortgage | Fixed rate | Shops at Bruckner
Debt Instrument [Line Items]
Interest rate			3.90%	3.90%
Long-term Debt, Gross			$ 10,668,000	$ 10,668,000				10,978,000
Mortgages | First Mortgage | Fixed rate | Hudson Mall
Debt Instrument [Line Items]
Interest rate			5.07%	5.07%
Long-term Debt, Gross			$ 23,264,000	$ 23,264,000				23,625,000
Effective interest rate			3.85%	3.85%
Unamortized debt premium			$ 900,000	$ 900,000				1,000,000
Mortgages | First Mortgage | Fixed rate | Yonkers Gateway Center
Debt Instrument [Line Items]
Interest rate			4.16%	4.16%
Long-term Debt, Gross			$ 29,307,000	$ 29,307,000				30,122,000
Effective interest rate			3.70%	3.70%
Unamortized debt premium			$ 500,000	$ 500,000				600,000
Mortgages | First Mortgage | Fixed rate | Las Catalinas
Debt Instrument [Line Items]
Interest rate			7.43%	7.43%		7.43%	4.43%
Long-term Debt, Gross			$ 128,822,000	$ 128,822,000				129,335,000
Total mortgages payable						$ 129,000,000
Debt default, incremental interest rate						3.00%
Accrued interest				$ 2,800,000
Mortgages | First Mortgage | Fixed rate | Brick, NJ
Debt Instrument [Line Items]
Interest rate			3.87%	3.87%
Long-term Debt, Gross			$ 50,000,000	$ 50,000,000				50,000,000
Mortgages | First Mortgage | Fixed rate | North Plainfield
Debt Instrument [Line Items]
Interest rate			3.99%	3.99%
Long-term Debt, Gross			$ 25,100,000	$ 25,100,000				25,100,000
Mortgages | First Mortgage | Fixed rate | Middletown, NJ
Debt Instrument [Line Items]
Interest rate			3.78%	3.78%
Long-term Debt, Gross			$ 31,400,000	$ 31,400,000				31,400,000
Mortgages | First Mortgage | Fixed rate | Rockaway
Debt Instrument [Line Items]
Interest rate			3.78%	3.78%
Long-term Debt, Gross			$ 27,800,000	$ 27,800,000				27,800,000
Mortgages | First Mortgage | Fixed rate | East Hanover (200 - 240 Route 10 West), NJ
Debt Instrument [Line Items]
Interest rate			4.03%	4.03%
Long-term Debt, Gross			$ 63,000,000	$ 63,000,000				63,000,000
Mortgages | First Mortgage | Fixed rate | North Bergen (Tonnelle Avenue), NJ
Debt Instrument [Line Items]
Interest rate			4.18%	4.18%
Long-term Debt, Gross			$ 100,000,000	$ 100,000,000				100,000,000
Mortgages | First Mortgage | Fixed rate | Manchester Plaza
Debt Instrument [Line Items]
Interest rate			4.32%	4.32%
Long-term Debt, Gross			$ 12,500,000	$ 12,500,000				12,500,000
Mortgages | First Mortgage | Fixed rate | Millburn
Debt Instrument [Line Items]
Interest rate			3.97%	3.97%
Long-term Debt, Gross			$ 23,591,000	$ 23,591,000				23,798,000
Mortgages | First Mortgage | Fixed rate | Totowa, NJ
Debt Instrument [Line Items]
Interest rate			4.33%	4.33%
Long-term Debt, Gross			$ 50,800,000	$ 50,800,000				50,800,000
Mortgages | First Mortgage | Fixed rate | Woodbridge Commons
Debt Instrument [Line Items]
Interest rate			4.36%	4.36%
Long-term Debt, Gross			$ 22,100,000	$ 22,100,000				22,100,000
Mortgages | First Mortgage | Fixed rate | East Brunswick, NJ
Debt Instrument [Line Items]
Interest rate			4.38%	4.38%
Long-term Debt, Gross			$ 63,000,000	$ 63,000,000				63,000,000
Mortgages | First Mortgage | Fixed rate | East Rutherford, NJ
Debt Instrument [Line Items]
Interest rate			4.49%	4.49%
Long-term Debt, Gross			$ 23,000,000	$ 23,000,000				23,000,000
Mortgages | First Mortgage | Fixed rate | Brooklyn (Kingswood Center)
Debt Instrument [Line Items]
Interest rate			5.07%	5.07%
Long-term Debt, Gross			$ 72,136,000	$ 72,136,000				0
Effective interest rate			3.43%	3.43%
Unamortized debt premium			$ 6,600,000	$ 6,600,000
Mortgages | First Mortgage | Fixed rate | Hackensack, NJ
Debt Instrument [Line Items]
Interest rate			4.36%	4.36%
Long-term Debt, Gross			$ 66,400,000	$ 66,400,000				66,400,000
Mortgages | First Mortgage | Fixed rate | Marlton, NJ
Debt Instrument [Line Items]
Interest rate			3.86%	3.86%
Long-term Debt, Gross			$ 37,400,000	$ 37,400,000				37,400,000
Mortgages | First Mortgage | Fixed rate | East Hanover Warehouses
Debt Instrument [Line Items]
Interest rate			4.09%	4.09%
Long-term Debt, Gross			$ 40,700,000	$ 40,700,000				40,700,000
Mortgages | First Mortgage | Fixed rate | Union (2445 Springfield Avenue), NJ
Debt Instrument [Line Items]
Interest rate			4.01%	4.01%
Long-term Debt, Gross			$ 45,600,000	$ 45,600,000				45,600,000
Mortgages | First Mortgage | Fixed rate | Freeport (437 East Sunrise Highway), NY
Debt Instrument [Line Items]
Interest rate			4.07%	4.07%
Long-term Debt, Gross			$ 43,100,000	$ 43,100,000				43,100,000
Mortgages | First Mortgage | Fixed rate | Garfield, NJ
Debt Instrument [Line Items]
Interest rate			4.14%	4.14%
Long-term Debt, Gross			$ 40,300,000	$ 40,300,000				40,300,000
Mortgages | First Mortgage | Fixed rate | Mount Kisco (Target)
Debt Instrument [Line Items]
Interest rate			6.40%	6.40%
Long-term Debt, Gross			$ 13,226,000	$ 13,226,000				13,488,000
Unamortized debt discount								(900,000)
Effective interest rate			7.31%	7.31%
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Interest rate			1.22%	1.22%
Long-term Debt, Gross			$ 250,000,000	$ 250,000,000				0
Total mortgages payable, net of unamortized debt issuance costs			$ 250,000,000	$ 250,000,000				$ 0
Revolving Credit Facility | Line of Credit | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.05%

MORTGAGES PAYABLE - Additional

MORTGAGES PAYABLE - Additional Information (Details)	Aug. 05, 2020USD ($)	Jun. 01, 2020USD ($)	May 31, 2020USD ($)	Jun. 29, 2019	Mar. 07, 2017USD ($)extension_option	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Apr. 30, 2020USD ($)	Mar. 31, 2020	Dec. 31, 2019USD ($)	Jan. 15, 2015USD ($)
Debt Instrument [Line Items]
Net carrying amount of real estate collateralizing indebtedness						$ 1,300,000,000		$ 1,300,000,000
Amounts drawn under the credit agreement						250,000,000		250,000,000				$ 0
Gain (loss) on extinguishment of debt						34,908,000	$ 0	34,908,000	$ 0
Long-term debt, amount forgiven								30,000,000	$ 0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Total mortgages payable						250,000,000		250,000,000				0
Maximum borrowing capacity					$ 600,000,000								$ 500,000,000
Increase in credit facility					$ 100,000,000
Number of extension options | extension_option					2
Term of each extension option					6 months
Proceeds from lines of credit						250,000,000
Remaining borrowing capacity						$ 350,000,000		$ 350,000,000
Borrowing rate						1.22%		1.22%
Gross debt issuance costs						$ 3,900,000		$ 3,900,000				3,900,000
Line of Credit | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Financial covenants, maximum leverage ratio				0.60
Facility fee					30.00%
Line of Credit | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Financial covenants, minimum fixed charge coverage ratio				1.5
Facility fee					15.00%
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate								1.05%
Line of Credit | Revolving Credit Facility | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.50%
Line of Credit | Revolving Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.05%
Mortgages | Montehiedra Town Center
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt						34,900,000		$ 34,900,000
First Mortgage | Mortgages
Debt Instrument [Line Items]
Total mortgages payable						1,595,235,000		1,595,235,000				1,556,248,000
First Mortgage | Mortgages | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable						1,425,214,000		1,425,214,000				1,386,748,000
First Mortgage | Mortgages | Las Catalinas | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable						$ 128,822,000		$ 128,822,000				129,335,000
Borrowing rate						7.43%		7.43%		7.43%	4.43%
Accrued interest								$ 2,800,000
Debt instrument, face amount										$ 129,000,000
Senior Loan | Mortgages | Montehiedra Town Center
Debt Instrument [Line Items]
Debt instrument, term		10 years				10 years
Borrowing rate		5.00%	5.33%			5.00%		5.00%
Debt instrument, face amount		$ 82,000,000	$ 83,000,000			$ 82,000,000		$ 82,000,000
Senior Loan | First Mortgage | Mortgages | Montehiedra Town Center | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable						$ 82,000,000		$ 82,000,000				83,202,000
Borrowing rate						5.00%		5.00%
Junior Loan | Mortgages | Montehiedra Town Center
Debt Instrument [Line Items]
Borrowing rate						3.00%		3.00%
Accrued interest			$ 5,700,000			$ 5,400,000
Write-off of incurred transaction costs						(100,000)
Write-off of deferred financing fees						(400,000)
Debt instrument, face amount		30,000,000
Long-term debt, amount forgiven		$ 30,000,000				30,000,000
Junior Loan | First Mortgage | Mortgages | Montehiedra Town Center | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable						$ 0		$ 0				$ 30,000,000
Borrowing rate						0.00%		0.00%
Subsequent Event | Mortgages | Montclair, NJ
Debt Instrument [Line Items]
Debt instrument, term	10 years
Borrowing rate	3.15%
Debt instrument, face amount	$ 7,300,000
Property Lease Guarantee
Debt Instrument [Line Items]
Conditional corporate guarantee						$ 12,500,000		$ 12,500,000

MORTGAGES PAYABLE - Schedule of

MORTGAGES PAYABLE - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2020USD ($)
Debt Disclosure [Abstract]
Remainder of 2018	$ 3,960
2019	12,626
2020	101,822
2021	347,158
2022	530,208
2023	35,321
Thereafter	$ 814,140

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Income Tax Contingency [Line Items]
Deferred tax liabilities, net	$ (715)		$ (715)		$ (5,137)
Deferred tax assets, net	(9,152)		(9,152)		0
Income tax expense	$ (13,662)	$ 994	$ (13,562)	$ 1,196
Puerto Rico
Income Tax Contingency [Line Items]
Number of malls	2		2
Deferred Tax Assets, Gross	$ 13,400		$ 13,400
Branch profit tax			10.00%
Commonwealth of Puerto Rico | Puerto Rico
Income Tax Contingency [Line Items]
Non-resident withholding tax percentage			29.00%
Income tax expense	(13,700)	$ 900	$ (13,600)	$ 1,100
Montehiedra Town Center
Income Tax Contingency [Line Items]
Deferred tax liabilities, net					$ (4,000)
Montehiedra Town Center | Puerto Rico
Income Tax Contingency [Line Items]
Deferred tax liabilities, net	(10,300)		(10,300)
Deferred tax assets, net	$ (23,700)		$ (23,700)
Minimum | Puerto Rico
Income Tax Contingency [Line Items]
State and local income taxes			18.50%
Maximum | Puerto Rico
Income Tax Contingency [Line Items]
State and local income taxes			37.50%

LEASES - Components of Rental R

LEASES - Components of Rental Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Fixed lease revenue	$ 51,648	$ 74,896	$ 120,745	$ 143,380
Variable lease revenue	21,617	26,592	45,520	55,416
Total rental revenue	$ 73,265	$ 101,488	$ 166,265	$ 198,796

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)property	Mar. 31, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges recognized			$ 0	$ 9,070
Property One [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of real estate properties | property	2			2
Impairment charges recognized	$ 18,700
Property Two [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges recognized		$ 4,000
Real Estate | Fair Value, Nonrecurring | Property One [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 28,500			$ 28,500

FAIR VALUE MEASUREMENTS - Balan

FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 615,579	$ 432,954	$ 412,126	$ 440,430
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	615,579	432,954
Unsecured credit facility	250,000
Carrying Amount | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	1,595,235	1,556,248
Unamortized debt issuance costs	(10,500)	(10,100)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Unsecured credit facility	250,000
Fair Value | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	615,579	432,954
Fair Value | Level 2 | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	$ 1,628,764	$ 1,590,503

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2020	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Aug. 04, 2020USD ($)	Jun. 15, 2020ft²	Dec. 31, 2019USD ($)	Jun. 13, 2018
Loss Contingencies [Line Items]
Real estate redevelopment in process		$ 94,700,000		$ 94,700,000
Estimated cost to complete development and redevelopment projects		55,800,000		55,800,000
Delayed construction		300,000,000		300,000,000
Insurance coverage, general liability insurance, limit per occurrence		200,000,000		200,000,000
Insurance coverage, rental value insurance, limit per occurrence		500,000,000		500,000,000
Insurance coverage, pollution insurance, limit per occurence		50,000,000		50,000,000
Rental revenue deemed uncollectible				(13,079,000)	$ (773,000)
Deferred lease expense		$ 1,000,000		$ 1,000,000				$ 2,700,000
Puerto Rico
Loss Contingencies [Line Items]
Number of malls		2		2
Puerto Rico | Hurricane Maria
Loss Contingencies [Line Items]
Insurance coverage, rental value insurance, limit per occurrence		$ 147,000,000		$ 147,000,000
Shopping Center Wilkes-Barre, PA | Tornado | Hurricane Maria
Loss Contingencies [Line Items]
Casualty Gains (Losses)			$ 4,800,000
Gain on Business Interruption Insurance Recovery			200,000		300,000
Percentage of Rentable Area Damaged									13.00%
Proceeds from Insurance Settlement, Operating Activities			5,500,000
COVID-19
Loss Contingencies [Line Items]
Rental revenue deemed uncollectible		$ (12,500,000)		(13,900,000)
Rents received, percent		72.00%
Allowance for credit loss, writeoff		$ 6,000,000
COVID-19 | Paramus, NJ
Loss Contingencies [Line Items]
Rental revenue deemed uncollectible		(800,000)
Area of real estate property (in sq ft) | ft²							54,000
Annual Gross Rents				3,100,000
Allowance for credit loss, writeoff		$ 3,500,000		3,500,000
Loans And Leases Receivable, Gain (Loss) On Operating Lease				$ 800,000
COVID-19 | Subsequent Event
Loss Contingencies [Line Items]
Leasable area, gross, percent						94.00%
Rents received, percent	73.00%
Rent deferrals granted, amount						$ 700,000
Abatements granted, aggregate amount						$ 100,000
Annualized base rent tenants, percentage requesting rent relief						49.00%
Business Interruption [Member] | Hurricane [Member] | Puerto Rico | Hurricane Maria
Loss Contingencies [Line Items]
Insurance Settlements Receivable			14,300,000		14,300,000
Loss Contingency, Receivable, Proceeds					3,300,000
Loss Contingency, Insurance Deductible					$ 2,300,000
Gains (Losses) on Business Interruption			$ 8,700,000

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	$ 7,491	$ 7,460
Deferred Tax Assets, Net	9,152	0
Real estate held for sale	0	6,574
Deposits for acquisitions	0	10,000
Prepaid expenses:
Real estate taxes	4,438	6,491
Insurance	5,018	1,520
Licenses/fees	1,389	1,655
Total Prepaid expenses and other assets	27,488	$ 33,700
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Restructuring Charges	13,400
Deferred Tax Liabilities, Gross	$ 4,200

ACCOUNTS PAYABLE, ACCRUED EXP_3

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting, Other Significant Reconciling Item [Line Items]
Deferred tenant revenue	$ 22,161	$ 26,224
Accrued capital expenditures and leasing costs	8,455	7,893
Accrued interest payable	7,523	9,729
Security deposits	6,248	5,814
Deferred tax liability, net(1)	715	5,137
Accrued payroll expenses	4,086	5,851
Other liabilities and accrued expenses	9,186	15,996
Total accounts payable, accrued expenses and other liabilities	$ 58,374	76,644
Montehiedra Town Center
Segment Reporting, Other Significant Reconciling Item [Line Items]
Deferred tax liability, net(1)		4,000
Las Catalinas
Segment Reporting, Other Significant Reconciling Item [Line Items]
Deferred tax liability, net(1)		$ 1,100

INTEREST AND DEBT EXPENSE (Deta

INTEREST AND DEBT EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Income and Expenses [Abstract]
Interest expense	$ 17,869	$ 15,752	$ 34,338	$ 31,568
Amortization of deferred financing costs	704	720	1,410	1,440
Total Interest and debt expense	$ 18,573	$ 16,472	$ 35,748	$ 33,008

EQUITY AND NONCONTROLLING INT_2

EQUITY AND NONCONTROLLING INTEREST (Details) - USD ($)	Jan. 15, 2015	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Stock Repurchase Program, Authorized Amount		$ 200,000,000		$ 200,000,000	$ 200,000,000
Repurchase of common shares (in shares)		1,421,700		5,900,000	5,873,923
Treasury stock acquired, average cost per share (in dollars per share)		$ 7.98		$ 9.22
Repurchase of common shares		$ 11,340,000		$ 54,100,000	$ 54,141,000
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01	$ 0.01		$ 0.01
Distributions to redeemable NCI (in dollars per unit)			$ 0.22		$ 0.22	$ 0.44
Common limited partnership units issued (in shares)		5,700,000		5,700,000	5,700,000
OP Units
Noncontrolling Interest [Line Items]
Conversion to stock, conversion rate					1
LTIP Units
Noncontrolling Interest [Line Items]
Award vesting period					2 years
Conversion to stock, conversion rate					1
Operating Partnership | OP Units
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage		4.00%			4.20%
Walnut Creek (Mt. Diablo), CA | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage					5.00%
Vornado Realty L.P. | Operating Partnership | Parent
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage					96.10%
Vornado Realty L.P. | Vornado Realty L.P. | Parent
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage	5.40%

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - General and Administrative Expense - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	$ 8,611	$ 3,295	$ 11,859	$ 6,959
Restricted share expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	194	336	454	1,087
Stock option expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	3,259	999	4,127	2,070
LTIP expense(1)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	4,117	995	5,300	2,203
Performance-based LTI expense(2)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	1,027	923	1,942	1,487
Deferred share unit (“DSU”) expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total Share-based compensation expense	$ 14	$ 42	$ 36	$ 112

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details) - USD ($)	Feb. 20, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Accelerated Cost		$ 5,600,000	$ 5,600,000	$ 400,000
Number of options vested (in shares)		2,208,304	2,208,304
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number or equity awards granted (in shares)			297,195
Number of awards vested (in shares)			341,022
LTIP Units | Long-Term Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance measurement period of equity awards	3 years
Time-based LTIP Shares | Long-Term Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted percentage of equity awards	$ 0.3333
Performance-based LTIP Shares | Long-Term Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted percentage of equity awards	0.6666
Time-based and Performance-based LTIP Shares | Long-Term Incentive Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of equity awards	$ 8,800,000
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number or equity awards granted (in shares)			31,679
Number of awards vested (in shares)			50,285

EARNINGS PER SHARE AND UNIT (De

EARNINGS PER SHARE AND UNIT (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Numerator:
Net income attributable to common shareholders	$ 31,255	$ 26,571	$ 80,235	$ 52,108
Less: Earnings allocated to unvested participating securities	(19)	(22)	(54)	(45)
Net income available for common shareholders - basic	31,236	26,549	80,181	52,063
OP and LTIP units	0	0	525	0
Net income available for common shareholders - dilutive	$ 31,236	$ 26,549	$ 80,706	$ 52,063
Denominator:
Weighted average common shares outstanding - basic (in shares)	116,522	120,364	118,744	118,330
Effect of dilutive securities:
Assumed conversion of OP and LTIP units (in shares)	0	0	784	0
Weighted average common shares outstanding - diluted (in shares)	116,595	120,461	119,607	118,436
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.27	$ 0.22	$ 0.68	$ 0.44
Earnings per common share - Diluted (in dollars per share)	$ 0.27	$ 0.22	$ 0.67	$ 0.44
Urban Edge Properties LP
Numerator:
Net income attributable to common shareholders	$ 32,545	$ 28,089	$ 83,833	$ 55,981
Less: Earnings allocated to unvested participating securities	(19)	(23)	(54)	(47)
Net income available for common shareholders - basic	$ 32,526	$ 28,066	$ 83,779	$ 55,934
Denominator:
Weighted average common shares outstanding - basic (in shares)	120,535	126,478	123,190	126,442
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	72	97	79	106
Assumed conversion of OP and LTIP units (in shares)	800	5	813	6
Weighted average common shares outstanding - diluted (in shares)	121,407	126,580	124,082	126,554
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.27	$ 0.22	$ 0.68	$ 0.44
Earnings per common share - Diluted (in dollars per share)	$ 0.27	$ 0.22	$ 0.68	$ 0.44
Restricted share expense
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	73	97	79	106

Uncategorized Items - ue-630202

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,918,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,918,000)
Subsidiaries [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,918,000)
Subsidiaries [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,918,000)