Urban Edge Properties (UE) 10-K 14 Feb 23 2022 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 03, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
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, $.01 par value per share
Trading Symbol	UE
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.9
Entity Common Stock, Shares Outstanding		117,485,171
Entity Central Index Key	0001611547
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor [Line Items]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	New York, New York
Auditor Firm ID	34
Urban Edge Properties LP
Auditor [Line Items]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	New York, New York
Auditor Firm ID	34

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real estate, at cost:
Land	$ 535,770	$ 543,827
Buildings and improvements	2,468,385	2,441,797
Construction in progress	314,190	212,296
Furniture, fixtures and equipment	8,539	7,530
Total	3,326,884	3,205,450
Accumulated depreciation and amortization	(791,485)	(753,947)
Real estate, net	2,535,399	2,451,503
Operating lease right-of-use assets	64,161	69,361
Cash and cash equivalents	85,518	164,478
Restricted cash	43,256	55,358
Tenant and other receivables	17,523	15,812
Receivables arising from the straight-lining of rents	64,713	62,692
Identified intangible assets, net of accumulated amortization of $40,983 and $37,361, respectively	62,856	71,107
Deferred leasing costs, net of accumulated amortization of $20,107 and $17,641, respectively	26,799	20,694
Prepaid expenses and other assets	77,207	74,111
Total assets	2,977,432	2,985,116
Liabilities:
Mortgages payable, net	1,691,690	1,687,190
Operating lease liabilities	59,789	64,578
Accounts payable, accrued expenses and other liabilities	102,519	84,829
Identified intangible liabilities, net of accumulated amortization of $40,816 and $35,029, respectively	93,328	100,625
Total liabilities	1,947,326	1,937,222
Commitments and contingencies (Note 10)
Shareholders’ equity:
Common shares: $0.01 par value; 500,000,000 shares authorized and 117,450,951 and 117,147,986 shares issued and outstanding, respectively	1,173	1,170
Additional paid-in capital	1,011,293	1,001,253
Accumulated other comprehensive income	629	0
Accumulated deficit	(36,104)	(7,091)
Noncontrolling interests:
Operating partnership	39,209	39,616
Consolidated subsidiaries	13,906	12,946
Total equity	1,030,106	1,047,894
Total liabilities and equity	2,977,432	2,985,116
Urban Edge Properties LP
Real estate, at cost:
Land	535,770	543,827
Buildings and improvements	2,468,385	2,441,797
Construction in progress	314,190	212,296
Furniture, fixtures and equipment	8,539	7,530
Total	3,326,884	3,205,450
Accumulated depreciation and amortization	(791,485)	(753,947)
Real estate, net	2,535,399	2,451,503
Operating lease right-of-use assets	64,161	69,361
Cash and cash equivalents	85,518	164,478
Restricted cash	43,256	55,358
Tenant and other receivables	17,523	15,812
Receivables arising from the straight-lining of rents	64,713	62,692
Identified intangible assets, net of accumulated amortization of $40,983 and $37,361, respectively	62,856	71,107
Deferred leasing costs, net of accumulated amortization of $20,107 and $17,641, respectively	26,799	20,694
Prepaid expenses and other assets	77,207	74,111
Total assets	2,977,432	2,985,116
Liabilities:
Mortgages payable, net	1,691,690	1,687,190
Operating lease liabilities	59,789	64,578
Accounts payable, accrued expenses and other liabilities	102,519	84,829
Identified intangible liabilities, net of accumulated amortization of $40,816 and $35,029, respectively	93,328	100,625
Total liabilities	1,947,326	1,937,222
Commitments and contingencies (Note 10)
Shareholders’ equity:
General partner: 117,450,951 and 117,147,986 units outstanding, respectively	1,012,466	1,002,423
Limited partners: 4,713,558 and 4,662,654 units outstanding, respectively	41,810	41,030
Accumulated other comprehensive income	629	0
Accumulated deficit	(38,705)	(8,505)
Partners' Capital	1,016,200	1,034,948
Noncontrolling interests:
Consolidated subsidiaries	13,906	12,946
Total equity	1,030,106	1,047,894
Total liabilities and equity	$ 2,977,432	$ 2,985,116

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Accumulated amortization, identified intangible assets	$ 40,983	$ 37,361
Accumulated amortization, deferred leasing costs	20,107	17,641
Below market lease, accumulated amortization	$ 40,816	$ 35,029
Common stock, shares, outstanding (in shares)	117,450,951	117,147,986
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	500,000,000
Common stock, shares issued (in shares)	117,450,951	117,147,986
Urban Edge Properties LP
Accumulated amortization, identified intangible assets	$ 40,983	$ 37,361
Accumulated amortization, deferred leasing costs	20,107	17,641
Below market lease, accumulated amortization	$ 40,816	$ 35,029
Limited partners, units outstanding (in units)	4,713,558	4,662,654

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE
Revenues	$ 397,938	$ 425,082	$ 330,095
EXPENSES
Depreciation and amortization	98,432	92,331	96,029
Real estate taxes	61,864	63,844	60,049
Property operating	74,334	68,531	56,126
General and administrative	43,087	39,152	48,682
Casualty and impairment loss, net	0	468	3,055
Capitalized internal leasing overhead	12,460	12,872	13,667
Total expenses	290,177	277,198	277,608
Gain on sale of real estate	353	18,648	39,775
Interest income	1,107	360	2,599
Interest and debt expense	(58,979)	(57,938)	(71,015)
Gain (loss) on extinguishment of debt	0	0	34,908
Income before income taxes	50,242	108,954	58,754
Income tax (expense) benefit	(2,903)	(1,139)	38,996
Net income	47,339	107,815	97,750
Less net income attributable to noncontrolling interests in:
Operating partnership	(1,895)	(4,296)	(4,160)
Consolidated subsidiaries	726	(833)	(1)
Net income (loss) attributable to common shareholders	$ 46,170	$ 102,686	$ 93,589
Earnings per common share - Basic (in dollars per share)	$ 0.39	$ 0.88	$ 0.79
Earnings per common share - Diluted (in dollars per share)	$ 0.39	$ 0.88	$ 0.79
Weighted average shares outstanding - Basic (in shares)	117,366	117,029	117,722
Weighted average shares outstanding - Diluted (in shares)	121,640	121,447	117,902
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 656	$ 0	$ 0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	47,995	107,815	97,750
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	(27)	0	0
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	46,799	102,686	93,589
Rental revenue
REVENUE
Revenues from contract with customer	396,376	422,467	328,280
Other income
REVENUE
Revenues from contract with customer	1,562	2,615	1,815
Urban Edge Properties LP
REVENUE
Revenues	397,938	425,082	330,095
EXPENSES
Depreciation and amortization	98,432	92,331	96,029
Real estate taxes	61,864	63,844	60,049
Property operating	74,334	68,531	56,126
General and administrative	43,087	39,152	48,682
Casualty and impairment loss, net	0	468	3,055
Capitalized internal leasing overhead	12,460	12,872	13,667
Total expenses	290,177	277,198	277,608
Gain on sale of real estate	353	18,648	39,775
Interest income	1,107	360	2,599
Interest and debt expense	(58,979)	(57,938)	(71,015)
Gain (loss) on extinguishment of debt	0	0	34,908
Income before income taxes	50,242	108,954	58,754
Income tax (expense) benefit	(2,903)	(1,139)	38,996
Net income	47,339	107,815	97,750
Less net income attributable to noncontrolling interests in:
Consolidated subsidiaries	726	(833)	(1)
Net income (loss) attributable to common shareholders	$ 48,065	$ 106,982	$ 97,749
Earnings per common share - Basic (in dollars per share)	$ 0.40	$ 0.88	$ 0.80
Earnings per common share - Diluted (in dollars per share)	$ 0.39	$ 0.88	$ 0.80
Weighted average shares outstanding - Basic (in shares)	121,374	120,966	121,957
Weighted average shares outstanding - Diluted (in shares)	121,640	122,107	122,811
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	$ 656	$ 0	$ 0
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	47,995	107,815	97,750
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	48,721	106,982	97,749
Urban Edge Properties LP | Rental revenue
REVENUE
Revenues from contract with customer	396,376	422,467	328,280
Urban Edge Properties LP | Other income
REVENUE
Revenues from contract with customer	$ 1,562	$ 2,615	$ 1,815

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)	Total	Urban Edge Properties LP	Urban Edge Properties LP Accumulated Earnings (Deficit)	Urban Edge Properties LP Consolidated Subsidiaries	Urban Edge Properties LP General Partner	Urban Edge Properties LP Limited Partners		Common Shares	Additional Paid-In Capital	Accumulated Earnings (Deficit)	Operating Partnership	Consolidated Subsidiaries	AOCI Attributable to Parent
Beginning balance (in shares) at Dec. 31, 2019					121,370,125	5,833,318		121,370,125
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	[1]	$ 1,213,000	$ 1,019,149,000	$ (52,546,000)	$ 46,536,000	$ 424,000	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	93,589,000	97,749,000	97,749,000							93,589,000
Net income attributable to noncontrolling interests	4,161,000	1,000		1,000							4,160,000	1,000
Common units issued as a result of common shares issued by Urban Edge (in shares)					66,588	475,081
Common units issued as a result of common shares issued by Urban Edge		398,000	(30,000)		$ 428,000
Units redeemed for common shares/OP units (in shares)					1,579,389	(1,579,389)		1,579,389
Units redeemed for common shares	11,144,000	11,144,000			$ 11,144,000	$ 0	[1]	$ 15,000	11,129,000
Reallocation of noncontrolling interests	(11,144,000)	(11,144,000)			$ 8,833,000	(19,977,000)	[1]		8,833,000		(19,977,000)
Distributions to Partners		(83,866,000)	(83,866,000)
Common shares issued (in shares)								66,588
Common shares issued	$ 398,000							$ 1,000	427,000	(30,000)
Repurchase of common stock (in shares)	(5,900,000)				(5,873,923)			(5,873,923)
Repurchase of common shares	$ (54,141,000)	54,141,000			$ 54,141,000	0		$ (59,000)	(54,082,000)
Dividends to common shareholders ($0.68 per share)	(80,480,000)									(80,480,000)
Distributions to redeemable NCI ($0.68 per unit)	(3,386,000)										(3,386,000)
Contributions from noncontrolling interests	5,447,000	5,447,000		5,447,000								5,447,000
Share-based compensation expense	16,994,000	16,994,000	0		5,871,000	$ 11,123,000	[1]		5,871,000		11,123,000
Share-based awards retained for taxes	(1,465,000)	(1,465,000)			$ (1,465,000)			$ (1,000)	(1,464,000)
Share-based awards retained for taxes (in shares)					(127,862)			(127,862)
Ending balance (in shares) at Dec. 31, 2020					117,014,317	4,729,010		117,014,317
Ending balance at Dec. 31, 2020	995,893,000	995,893,000	(42,313,000)	5,872,000	$ 991,032,000	$ 41,302,000	[1]	$ 1,169,000	989,863,000	(39,467,000)	38,456,000	5,872,000	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	102,686,000	106,982,000	106,982,000							102,686,000
Net income attributable to noncontrolling interests	5,129,000	833,000		833,000							4,296,000	833,000
Common units issued as a result of common shares issued by Urban Edge (in shares)					46,731	33,644
Common units issued as a result of common shares issued by Urban Edge		366,000	(144,000)		$ 510,000
Units redeemed for common shares/OP units (in shares)					100,000	(100,000)		100,000
Units redeemed for common shares	(5,462,000)	(5,462,000)			$ 840,000	$ (6,302,000)			840,000		(6,302,000)
Reallocation of noncontrolling interests	5,462,000	5,462,000			8,206,000	(2,744,000)	[1]		8,206,000		(2,744,000)
Distributions to Partners		(73,030,000)	(73,030,000)
Common shares issued (in shares)								46,731
Common shares issued	366,000							$ 1,000	509,000	(144,000)
Dividends to common shareholders ($0.68 per share)	(70,166,000)									(70,166,000)
Distributions to redeemable NCI ($0.68 per unit)	(2,864,000)										(2,864,000)
Contributions from noncontrolling interests	6,241,000	6,241,000										6,241,000
Share-based compensation expense	10,819,000	10,819,000			2,045,000	$ 8,774,000	[1]		2,045,000		8,774,000
Share-based awards retained for taxes	$ (210,000)	(210,000)			$ (210,000)				(210,000)
Share-based awards retained for taxes (in shares)					(13,062)			(13,062)
Ending balance (in shares) at Dec. 31, 2021	117,147,986				117,147,986	4,662,654		117,147,986
Ending balance at Dec. 31, 2021	$ 1,047,894,000	1,047,894,000	(8,505,000)	12,946,000	$ 1,002,423,000	$ 41,030,000	[1]	$ 1,170,000	1,001,253,000	(7,091,000)	39,616,000	12,946,000	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	46,170,000	48,065,000	48,065,000							46,170,000
Net income attributable to noncontrolling interests	1,169,000	(726,000)		(726,000)							1,895,000	(726,000)
Common units issued as a result of common shares issued by Urban Edge (in shares)					60,193
Common units issued as a result of common shares issued by Urban Edge		382,000	(84,000)		$ 466,000	$ 300,904
Other comprehensive income	656,000									27,000	27,000		629,000
Units redeemed for common shares/OP units (in shares)					250,000	(250,000)		250,000
Units redeemed for common shares	4,248,000	4,248,000			$ 2,124,000	$ 2,124,000	[1]	$ 3,000	2,121,000		2,124,000
Reallocation of noncontrolling interests	(4,248,000)	(4,248,000)			6,126,000	(10,374,000)	[1]		6,126,000		(10,374,000)
Distributions to Partners		(78,208,000)	(78,208,000)
Common shares issued (in shares)								60,193
Common shares issued	$ 382,000								466,000	(84,000)
Repurchase of common stock (in shares)	0
Dividends to common shareholders ($0.68 per share)	$ (75,099,000)									(75,099,000)
Distributions to redeemable NCI ($0.68 per unit)	(3,109,000)										(3,109,000)
Contributions from noncontrolling interests	1,686,000	1,686,000		1,686,000								1,686,000
Share-based compensation expense	10,486,000	10,486,000			1,456,000	$ 9,030,000	[1]		1,456,000		9,030,000
Share-based awards retained for taxes	$ (129,000)	(129,000)			$ (129,000)				(129,000)
Share-based awards retained for taxes (in shares)					(7,228)			(7,228)
Ending balance (in shares) at Dec. 31, 2022	117,450,951				117,450,951	4,713,558		117,450,951
Ending balance at Dec. 31, 2022	$ 1,030,106,000	$ 1,030,106,000	$ (38,705,000)	$ 13,906,000	$ 1,012,466,000	$ 41,810,000	[1]	$ 1,173,000	$ 1,011,293,000	$ (36,104,000)	$ 39,209,000	$ 13,906,000	$ 629,000
[1]Limited partners have a 3.9% common limited partnership interest in the Operating Partnership as of December 31, 2022 in the form of units of interest in the Operating Partnership (“OP Units”) and Long-Term Incentive Plan (“LTIP”) units.

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividends on common shares (in dollars per share)	$ 0.64	$ 0.60	$ 0.68
Distributions to redeemable NCI (in dollars per unit)	0.64	0.60	0.68
Accumulated Earnings (Deficit) | Urban Edge Properties LP
Dividends on common shares (in dollars per share)	$ 0.64	$ 0.60	$ 0.68
Operating Partnership | Limited Partners | Urban Edge Properties LP
Noncontrolling interest percentage	3.90%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 47,339	$ 107,815	$ 97,750
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	100,787	94,135	97,751
Casualty and impairment loss	0	468	3,055
Gain on sale of real estate	(353)	(18,648)	(39,775)
Gain on extinguishment of debt	0	0	(34,908)
Amortization of below market leases, net	(6,660)	(55,173)	(10,624)
Noncash lease expense	7,051	6,802	7,522
Straight-lining of rent	(2,020)	(878)	10,523
Share-based compensation expense	10,486	10,819	16,994
Change in operating assets and liabilities:
Tenant and other receivables	(1,712)	(139)	5,892
Deferred leasing costs	(8,660)	(5,818)	(1,218)
Prepaid and other assets	854	5,661	(41,982)
Lease liabilities	(6,641)	(6,227)	(6,680)
Accounts payable, accrued expenses and other liabilities	(853)	(3,544)	8,522
Net cash provided by operating activities	139,618	135,273	112,822
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(116,044)	(95,377)	(28,522)
Acquisitions of real estate	(36,222)	(252,632)	(124,340)
Proceeds from sale of operating properties	353	34,482	54,402
Proceeds from sale of operating lease	0	2,367	0
Net cash used in investing activities	(151,913)	(311,160)	(98,460)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	103,413	117,200	90,250
Debt repayments	(98,334)	(18,192)	(89,302)
Dividends paid to common shareholders	(75,099)	(123,998)	(26,647)
Distributions paid to redeemable noncontrolling interests	(3,109)	(4,937)	(1,314)
Taxes withheld for vested restricted shares	(129)	(210)	(1,465)
Debt issuance costs	(7,292)	0	(3,471)
Purchase of interest rate cap	(285)	0	0
Proceeds related to the issuance of common shares	382	366	398
Contributions from noncontrolling interests	1,686	6,241	5,447
Cash paid to repurchase shares	0	0	(54,141)
Net cash used in financing activities	(78,767)	(23,530)	(80,245)
Net decrease in cash and cash equivalents and restricted cash	(91,062)	(199,417)	(65,883)
Cash and cash equivalents and restricted cash at beginning of year	219,836	419,253	485,136
Cash and cash equivalents and restricted cash at end of year	128,774	219,836	419,253
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest net of amounts capitalized	55,740	58,621	68,113
Cash payments for income taxes	913	4,663	499
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	34,673	18,702	5,808
Write-off of fully depreciated and impaired assets	8,733	10,706	21,447
Forgiveness of mortgage debt	0	0	30,000
Assumption of debt from the acquisition of real estate	0	0	72,473
Dividend/distribution declared and paid in subsequent period	0	0	55,905
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of year	164,478	384,572	432,954
Cash and cash equivalents at end of year	85,518	164,478	384,572
Restricted cash at beginning of year	55,358	34,681	52,182
Restricted cash at end of year	43,256	55,358	34,681
Cash and cash equivalents and restricted cash at beginning/end of period	128,774	219,836	419,253
Urban Edge Properties LP
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	47,339	107,815	97,750
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	100,787	94,135	97,751
Casualty and impairment loss	0	468	3,055
Gain on sale of real estate	(353)	(18,648)	(39,775)
Gain on extinguishment of debt	0	0	(34,908)
Amortization of below market leases, net	(6,660)	(55,173)	(10,624)
Noncash lease expense	7,051	6,802	7,522
Straight-lining of rent	(2,020)	(878)	10,523
Share-based compensation expense	10,486	10,819	16,994
Change in operating assets and liabilities:
Tenant and other receivables	(1,712)	(139)	5,892
Deferred leasing costs	(8,660)	(5,818)	(1,218)
Prepaid and other assets	854	5,661	(41,982)
Lease liabilities	(6,641)	(6,227)	(6,680)
Accounts payable, accrued expenses and other liabilities	(853)	(3,544)	8,522
Net cash provided by operating activities	139,618	135,273	112,822
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(116,044)	(95,377)	(28,522)
Acquisitions of real estate	(36,222)	(252,632)	(124,340)
Proceeds from sale of operating properties	353	34,482	54,402
Proceeds from sale of operating lease	0	2,367	0
Net cash used in investing activities	(151,913)	(311,160)	(98,460)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings	103,413	117,200	90,250
Debt repayments	(98,334)	(18,192)	(89,302)
Payments of Capital Distribution	78,208	128,935	27,961
Taxes withheld for vested restricted shares	(129)	(210)	(1,465)
Debt issuance costs	(7,292)	0	(3,471)
Purchase of interest rate cap	(285)	0	0
Proceeds related to the issuance of common shares	382	366	398
Contributions from noncontrolling interests	1,686	6,241	5,447
Cash paid to repurchase shares	0	0	(54,141)
Net cash used in financing activities	(78,767)	(23,530)	(80,245)
Net decrease in cash and cash equivalents and restricted cash	(91,062)	(199,417)	(65,883)
Cash and cash equivalents and restricted cash at beginning of year	219,836	419,253	485,136
Cash and cash equivalents and restricted cash at end of year	128,774	219,836	419,253
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest net of amounts capitalized	55,740	58,621	68,113
Cash payments for income taxes	913	4,663	499
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	34,673	18,702	5,808
Write-off of fully depreciated and impaired assets	8,733	10,706	21,447
Forgiveness of mortgage debt	0	0	30,000
Assumption of debt from the acquisition of real estate	0	0	72,473
Dividend/distribution declared and paid in subsequent period	0	0	55,905
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of year	164,478	384,572	432,954
Cash and cash equivalents at end of year	85,518	164,478	384,572
Restricted cash at beginning of year	55,358	34,681	52,182
Restricted cash at end of year	43,256	55,358	34,681
Cash and cash equivalents and restricted cash at beginning/end of period	$ 128,774	$ 219,836	$ 419,253

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Capitalized interest	$ 8,512	$ 2,023	$ 715
Urban Edge Properties LP
Capitalized interest	$ 8,512	$ 2,023	$ 715

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2022
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 Washington, D.C. to Boston corridor. 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 December 31, 2022, 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 December 31, 2022, our portfolio consisted of 69 shopping centers, five malls and two industrial parks totaling approximately 17.2 million sf, which is inclusive of a 95% controlling interest in Walnut Creek, CA (Mt. Diablo), and an 82.5% controlling interest in Sunrise Mall, in Massapequa, NY.

BASIS OF PRESENTATION AND PRINC

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	12 Months Ended
	Dec. 31, 2022
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 annual financial information and with the instructions of Form 10-K. The consolidated financial statements as of and for the years ended December 31, 2022, 2021 and 2020 reflect the consolidation of the Company, the Operating Partnership, wholly-owned subsidiaries and those entities in which we have a controlling financial interest. 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. 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 at the individual operating segment. W e 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	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The most critical accounting policies, which involve the use of estimates and assumptions as to future uncertainties and, therefore, may result in actual amounts that differ from estimates include revenue recognition and collectibility of receivables, acquisitions of real estate and valuation of real estate. For more information on these estimates and policies refer to Part II, Item 7 “Critical Accounting Estimates” of this Annual Report on Form 10-K. 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 under way and ends when the project is substantially complete and ready for its intended use. Depreciation is recognized on a straight-line basis over estimated useful lives which range from one 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 assumption of 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 and development projects are individually evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Such events and changes include macroeconomic conditions, operating performance, and environmental and regulatory changes, which may result in property operational disruption and could 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. Cash and Cash Equivalents — Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates fair value due to their short-term maturities. The majority of our cash and cash equivalents consist of (i) deposits at major commercial banks, including money market accounts, which may at times exceed the Federal Deposit Insurance Corporation limit, (ii) United States Treasury Bills, and (iii) Certificate of Deposits placed through an Account Registry Service (“CDARS”). To date we have not experienced any losses on our invested cash. Restricted Cash — Restricted cash consists of security deposits and cash escrowed under loan agreements for debt service, real estate taxes, property insurance, tenant improvements, leasing commissions, capital expenditures and cash held for potential Internal Revenue Code Section 1031 tax deferred exchange transactions. 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 result 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, and receivables arising from the straight-lining of rents, are written-off directly when management deems the collectibility of substantially all future lease payments from a specific lease is not probable, at which point, the Company will begin recognizing revenue from such leases prospectively, based on actual amounts received. This write-off effectively reduces cumulative non-cash rental income recognized from the straight-lining of rents since lease commencement. If the Company subsequently determines that it is probable it will collect substantially all of the lessee’s remaining lease payments under the lease term, the Company will reinstate the receivables balance, including those arising from the straight-lining of rents. Deferred Leasing Costs — Deferred leasing costs include incremental costs of a lease that would have not been incurred if the lease had not been executed, including broker and sale commissions, and contingent legal fees. Such costs are capitalized and amortized on a straight-line basis over the term of the related leases as depreciation and amortization expense on the consolidated statements of income and comprehensive income. Deferred leasing costs also includes lease incentives that can be used at the discretion of the tenant. Lease incentives are capitalized and amortized over the term of the related leases as a reduction to rental revenue on the consolidated statements of income and comprehensive income. Deferred Financing Costs — Deferred financing costs and debt issuance costs include fees associated with the issuance of our mortgage loans and our revolving credit agreement. Such fees are amortized on a straight-line basis over the terms of the related agreements as a component of interest expense, which approximates the effective interest rate method, in accordance with the terms of the agreement. No amounts were drawn or outstanding under the revolving credit agreement as of December 31, 2022. Deferred financing costs associated with the revolving credit agreement are included in prepaid expenses and other assets on the consolidated balance sheets. Deferred financing costs associated with our mortgage loans are included in Mortgages payable, net on the consolidated balance sheets. Revenue Recognition — We have the following revenue sources and revenue recognition policies: • Rental revenue: Rental revenue comprises revenue from fixed and variable lease payments, as designated within tenant operating leases in accordance with ASC 842 Leases, as described further in our Leases accounting policy in Note 3 to the audited consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K. • Rental revenue deemed uncollectible: We evaluate the collectibility of amounts due from tenants and disputed enforceable charges on both a lease-by-lease and a portfolio-level, which result 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. • Other Income: Other income is generated in connection with certain services provided to tenants for which we earn a fee as well as management and development fee income from contractual property management agreements with third parties. This revenue is recognized as the services are transferred in accordance with ASC 606 Revenue from Contracts with Customers . Leases — We have approximately 900 operating leases at our properties, which generate rental income from tenants and operating cash flows for the Company. Our tenant leases are dependent on the Company, as lessor, agreeing to provide our tenants with the right to control the use of our real estate assets, as lessees. Our real estate assets are comprised of retail shopping centers, malls and industrial parks. Tenants agree to use and control their agreed upon space for their business purposes. Thus, our tenants obtain substantially all of the economic benefits from the use of our shopping center space and have the right to direct how and for what purpose the real estate space is used throughout the period of use. Given these contractual terms, the Company has determined that all tenant contracts of this nature contain a lease. The Company assesses lease classification for each new and modified lease. All new and modified leases which commenced in the year ended December 31, 2022 have been assessed and classified as operating leases. Contractual rent increases of renewal options are often fixed at the time of the initial lease agreement which may result in tenants being able to exercise their renewal options at amounts that are less than the fair value of the rent at the date of renewal. In addition to fixed base rents, certain rental income derived from our tenant leases is variable and may be dependent on percentage rent or the Consumer Price Index ("CPI"). Variable lease payments from percentage rents are earned by the Company in the event the tenant's gross sales exceed certain amounts. Terms of percentage rent are agreed upon in the tenant's lease and will vary based on the tenant's sales. Variable lease payments dependent on the CPI, will change in accordance with the corresponding increase or decrease in CPI if negotiated and agreed upon in the tenant's lease. Variable lease payments dependent on percentage rent and the CPI were $9.2 million and $9.8 million for the years ended December 31, 2022 and 2021, respectively. Variable lease payments also arise from tenant expense reimbursements, which provide for the recovery of all or a portion of the operating expenses, common area maintenance expenses, real estate taxes, insurance and capital improvements of the respective property and amounted to $103.3 million and $101.3 million for the years ended December 31, 2022 and 2021, respectively. The Company accounts for variable lease payments as rental revenue on the consolidated statements of income and comprehensive income in the period in which the changes in facts and circumstances on which the variable lease payments are based occur. The Company also has twenty properties in its portfolio either completely or partially on land or in a building that are owned by third parties. These properties are leased or subleased to us pursuant to ground leases, building leases or easements, with remaining terms ranging from two have been identified as leases . Our leases often offer renewal options, which we assess against relevant economic factors to determine whether the Company is reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods, for which the Company has determined are reasonably certain of being exercised, are included in the measurement of the corresponding lease liability and ROU asset. For finance leases and operating leases, the discount rate applied to measure each ROU asset and lease liability is based on the incremental borrowing rate of the lease due to the rate implicit in the lease not being readily determinable. The Company initially considers the general economic environment and factors in various financing and asset specific secured borrowings so that the overall incremental borrowing rate is appropriate to the intended use of the lease. Certain expenses derived from these leases are variable and are not included in the measurement of the corresponding lease liability and ROU asset, but are recognized in the period in which the obligation for those payments is incurred. These variable lease payments consist of payments for real estate taxes and common area maintenance, which is dependent on projects and activities at each individual property under ground or building lease. Noncontrolling Interests — Noncontrolling interests in consolidated subsidiaries represent the portion of equity that we do not own in those entities that we consolidate. We identify our noncontrolling interests separately within the equity section on the consolidated balance sheets. Noncontrolling interests in the Operating Partnership include OP units and limited partnership interests in the Operating Partnership in the form of long-term incentive plan (“LTIP”) unit awards classified as equity. Variable Interest Entities — Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or for which the equity owners as a group lack any one of the following characteristics: (i) the power, through voting rights or similar rights, to direct the activities of a legal entity that most significantly impact the entity’s economic performance, (ii) the obligation to absorb the expected losses of the legal entity, or (iii) the right to receive the expected residual returns of the legal entity, qualify as VIEs. VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE has both the power to direct the activities that most significantly impact economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The consolidated financial statements reflect the consolidation of VIEs in which the Company is the primary beneficiary. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity. Excluding the Operating Partnership, the Company had two entities that met the criteria of a VIE in which we held variable interests as of December 31, 2022 and 2021. These entities are VIEs primarily because the noncontrolling interests do not have substantive kick-out or participating rights and we control the significant operating decisions and consequently have the power to direct the activities that most significantly impact the economic performance of these entities. As we also have the obligation to absorb the majority of the losses and/or the right to receive a majority of the benefits for these entities, they were consolidated in our financial statements as of December 31, 2022 and 2021. The majority of the operations of these VIEs are funded with cash flows generated by the properties and periodic cash contributions. As of December 31, 2022 and 2021, excluding the Operating Partnership, the two consolidated VIEs had total assets of $47.6 million and $48.5 million, respectively and total liabilities of $23.2 million and $24.7 million, respectively. Earnings Per Share and Unit — Basic earnings per common share and unit is computed by dividing net income attributable to common shareholders and unitholders by the weighted average common shares and units outstanding during the period. Unvested share-based payment awards that entitle holders to receive non-forfeitable dividends, such as our restricted stock awards, are classified as “participating securities.” Because the awards are considered participating securities, the Company and the Operating Partnership are required to apply the two-class method of computing basic and diluted earnings that would otherwise have been available to common shareholders and unitholders. Under the two-class method, earnings for the period are allocated between common shareholders and unitholders and other shareholders and unitholders, based on their respective rights to receive dividends. During periods of net loss, losses are allocated only to the extent the participating securities are required to absorb their share of such losses. Diluted earnings per common share and unit reflects the potential dilution of the assumed exercises of shares including stock options and unvested restricted shares to the extent they are dilutive. Share-Based Compensation — We grant stock options, LTIP units, OP units, deferred share units, restricted share awards and performance-based units to our officers, trustees and employees. The term of each award is determined by the compensation committee of our Board of Trustees (the “Compensation Committee”), but in no event can such term be longer than ten years from the date of grant. The vesting schedule of each award is determined by the Compensation Committee, in its sole and absolute discretion, at the date of grant of the award. Dividends are paid on certain shares of unvested restricted stock, which makes the restricted stock a participating security. Fair value is determined, depending on the type of award, using either the Black-Scholes option-pricing model or the Monte Carlo method, both of which are intended to estimate the fair value of the awards at the grant date. In using the Black-Scholes option-pricing model, expected volatilities and dividend yields are primarily based on available implied data and peer group companies’ historical data. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation expense for restricted share awards is based on the fair value of our common shares at the date of the grant and is recognized ratably over the vesting period. For grants with a graded vesting schedule or a cliff vesting schedule, we have elected to recognize compensation expense on a straight-line basis. The OPP unrecognized compensation expense is recognized on a straight-line basis over the remaining life of the OPP awards issued. Share-based compensation expense is included in general and administrative expenses on the consolidated statements of income and comprehensive income. When the Company issues common shares as compensation, it receives a like number of common units from the Operating Partnership. Accordingly, the Company’s ownership in the Operating Partnership will increase based on the number of common shares awarded under our 2015 Omnibus Share Plan. As a result of the issuance of common units to the Company for share-based compensation, the Operating Partnership accounts for share-based compensation in the same manner as the Company. Income Taxes — The Company elected to be taxed as a REIT under sections 856-860 of the Code, commencing with the filing of its 2015 tax return for its tax year ended December 31, 2015. So long as the Company qualifies as a REIT under the Code, the Company will not be subject to U.S. federal income tax on net taxable income that it distributes annually to its shareholders. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates 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, in particular income taxes arising from its operating activities in Puerto Rico, which are included in income tax expense in the consolidated statements of income and comprehensive income. In addition, the Company’s taxable REIT subsidiary (“TRS”) is subject to income tax at regular corporate rates. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. The Company applies the FASB’s guidance relating to uncertainty in income taxes recognized in a Company’s financial statements. Under this guidance the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. The Company records interest and penalties relating to unrecognized tax benefits, if any, as income tax expense. Concentration of Credit Risk — A concentration of credit risk arises in our business when a national or regionally-based tenant occupies a substantial amount of space in multiple properties owned by us. In that event, if the tenant suffers a significant downturn in its business, it may become unable to make its contractual rent payments to us, exposing us to potential losses in rental revenue, expense recoveries, and percentage rent. Further, the impact may be magnified if the tenant is renting space in multiple locations. Generally, we do not obtain security from our national or regionally-based tenants in support of their lease obligations to us. We regularly monitor our tenant base to assess potential concentrations of credit risk. None of our tenants accounted for more than 10% of total revenues in the year ended December 31, 2022. As of December 31, 2022, The Home Depot, Inc. was our largest tenant with six stores which comprised an aggregate of 808,926 sf and accounted for approximately $21.4 million, or 5.4% of our total revenue for the year ended December 31, 2022. Derivative Financial Instruments and Hedging — At times, the Company may use derivative financial instruments to manage and mitigate exposure to fluctuations in interest rates on our variable rate debt. These derivatives are measured at fair value and are recognized as assets or liabilities on the Company’s consolidated balance sheets, depending on the Company’s rights or obligations under the respective derivative contracts. The accounting for changes in the fair value of a derivative varies based on eligibility and Company elections, including the intended use of the derivative, whether the Company has elected to designate the derivative in a hedging relationship and apply hedge accounting, and whether the hedge relationship has satisfied certain criteria to be deemed an effective hedge. Effectiveness of the hedging relationship is assessed on a quarterly basis by a third party to determine if the relationship still meets the criteria to be considered an effective hedge. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. In a cash flow hedge, hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged transaction. A derivative instrument designated as a cash flow hedge is adjusted to fair value on the Company’s consolidated balance sheets. The change in fair value, net of the amortization of the purchase price of the instrument, is deemed to be the effective portion of change and is recognized in Other Comprehensive Income (“OCI”) in the Company’s consolidated statements of income and comprehensive income, with the amortization of the purchase price included in interest and debt expense. Cash flows from the derivative are included in the prepaid expenses and other assets, or accounts payable, accrued expenses and other liabilities line item in the statement of cash flows, depending on whether the hedged item is recognized as an asset or a liability. For further information on the Company’s derivative instruments and hedge designations, refer to Note 9 . Recently Issued Accounting Literature In March 2020 and January 2021, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04 Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , and ASU 2021-01 Reference Rate Reform (ASC 848): Scope which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform in contracts and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. ASU 2020-04 and ASU 2021-01 are effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022, FASB issued ASU 2022-06 Reference Rate Reform (ASC 848): Deferral of the Sunset Date of Topic 848 , which extended the final sunset date from December 31, 2022 to December 31, 2024. There were no modifications to our existing debt agreements as a result of reference rate reform in the current year, however, we refinanced two loans in 2022 previously indexed to LIBOR, which are now indexed to SOFR and the Prime Rate. We plan to transition all variable rate loans currently indexed to LIBOR to SOFR, based on discussions with our lenders. 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 to not 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 may elect 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 stated that there are multiple ways to account for rent concessions, 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 continue to 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 made the election to account for rent concessions using the receivable approach or variable approach on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company has granted rent deferrals accounted under both the receivable approach by electing the Lease Modification Q&A and as modifications due to term extensions of the leases. The Company has also granted abatements accounted for under both the variable approach and as modifications due to the executed agreements including other rental term modifications, such as term extensions and substantial changes in cash flows.

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS Acquisitions During the years ended December 31, 2022 and December 31, 2021, we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (1) (in thousands) February 24, 2022 40 Carmans Road (2) Massapequa NY 12,000 $ 4,260 June 8, 2022 The Shops at Riverwood Hyde Park MA 78,000 33,343 2022 Total $ 37,603 August 10, 2021 601 Murray Road (3) East Hanover NJ 88,000 $ 18,312 August 19, 2021 151 Ridgedale Avenue (3) East Hanover NJ 187,000 37,759 December 23, 2021 Woodmore Towne Centre Glenarden MD 712,000 198,055 2021 Total $ 254,126 (1) The total purchase price for the properties acquired in the years ended December 31, 2022 and December 31, 2021 include $0.6 million and $5.2 million, respectively, of transaction costs incurred related to the transactions. (2) The outparcel is included with Sunrise Mall in our total property count. The Company has an 82.5% controlling interest in the property with the remaining 17.5% owned by others. (3) These properties are included with East Hanover Warehouses in our total property count. During the year ended December 31, 2022, the Company purchased two assets, comprising 90,000 sf, at an aggregate purchase price of $37.6 million. The 12,000 sf outparcel acquired in February 2022, located at 40 Carmans Road, is adjacent to the entrance of our mall in Massapequa, NY. This acquisition supports the overall plans we currently have under way to redevelop Sunrise Mall. On June 8, 2022, the Company closed on the acquisition of The Shops at Riverwood, a 78,000 sf grocery-anchored shopping center located in Hyde Park, MA, for a purchase price of $33.3 million, including transaction costs. The center is located in the greater Boston area and is anchored by a grocer and a strong array of national and regional tenants. During the year ended December 31, 2021, the Company purchased three assets with a total consideration of $254.1 million. The two industrial properties, acquired in August 2021, are adjacent to our existing 943,000 sf warehouse park in East Hanover, NJ. The acquisition of 151 Ridgedale Avenue was partially funded via a 1031 exchange using cash proceeds from previous dispositions. In December 2021, the Company closed on the acquisition of Woodmore Towne Centre, a 712,000 sf retail center located in Glenarden, MD, for a purchase price of $198.1 million, including transaction costs. The property sits on 83 acres and includes an additional 22 acres of land adjacent to the main parcel that may be developed for a complementary commercial use in the future. The aggregate purchase price of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Other assets, net Total Purchase Price (in thousands) 40 Carmans Road $ 1,118 $ 3,142 $ — $ — $ — $ 4,260 The Shops at Riverwood 10,866 19,441 4,024 (988) — 33,343 2022 Total $ 11,984 $ 22,583 $ 4,024 $ (988) $ — $ 37,603 601 Murray Road $ 2,075 $ 14,733 $ 1,722 $ (218) $ — $ 18,312 151 Ridgedale Avenue 2,990 35,509 — (740) — 37,759 Woodmore Towne Centre (2) 28,398 144,834 23,128 (8,035) 9,730 198,055 2021 Total $ 33,463 $ 195,076 $ 24,850 $ (8,993) $ 9,730 $ 254,126 (1) As of December 31, 2022, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2022 were 8.6 years and 16.2 years, respectively and the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2021 were 8.3 years and 13.9 years, respectively. (2) The amount allocated to Other assets, net relates to future reimbursements from the county for development work performed by the previous owner and is included in Prepaid expenses and other assets on our consolidated balance sheets. Dispositions During the year ended December 31, 2022, no dispositions were completed by the Company. During the year ended December 31, 2021, we disposed of three properties and one property parcel and received proceeds of $34.9 million, net of selling costs, resulting in an $18.6 million net gain on sale of real estate. Of these dispositions completed during the year ended December 31, 2021, two were completed as a 1031 exchange with the acquisition of 151 Ridgedale Avenue, allowing for the deferral of capital gains from the sale for income tax purposes. During the year ended December 31, 2021 , the Company also sold its lessee position in its ground lease at Vallejo, CA and received proceeds of $2.4 million , net of selling costs, and derecognized the ROU asset and corresponding lease liability related to the lease.

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES The following table summarizes our identified intangible assets and liabilities: (Amounts in thousands) December 31, 2022 December 31, 2021 In-place leases $ 93,191 $ 96,648 Accumulated amortization (36,196) (33,057) Above-market leases 9,013 10,185 Accumulated amortization (3,396) (3,147) Other intangible assets 1,635 1,635 Accumulated amortization (1,391) (1,157) Identified intangible assets, net of accumulated amortization 62,856 71,107 Below-market leases 134,144 135,654 Accumulated amortization (40,816) (35,029) Identified intangible liabilities, net of accumulated amortization $ 93,328 $ 100,625 Amortization of acquired below-market leases, net of acquired above-market leases resulted in rental income of $6.7 million , $55.2 million , and $10.6 million for the years ended December 31, 2022, 2021 and 2020, respectively. On September 29, 2021, the Company entered into agreements to terminate certain leases, effective October 15, 2021. The modification of these leases resulted in accelerated amortization of the below-market intangible lease liabilities of $45.9 million which is included in rental revenue for the year ended December 31, 2021. The intangibles related to these leases were fully amortized and subsequently written-off in 2021. Amortization of acquired in-place leases and customer relationships resulted in depreciation and amortization expense of $10.9 million , $8.6 million , and $10.2 million for the years ended December 31, 2022, 2021 and 2020, respectively. During 2021, we recognized $0.4 million of accelerated amortization of the in-place lease intangibles related to the terminations of the leases noted above. The following table sets forth the estimated annual amortization (expense) and income related to intangible assets and liabilities for the five succeeding years commencing January 1, 2023: (Amounts in thousands) Below-Market Above-Market In-Place Lease Year Operating Lease Amortization Operating Lease Amortization Amortization 2023 $ 7,764 $ (1,081) $ (9,064) 2024 7,528 (920) (7,801) 2025 7,348 (725) (6,334) 2026 6,971 (606) (5,630) 2027 6,693 (458) (5,101)

MORTGAGES PAYABLE

MORTGAGES PAYABLE	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
MORTGAGES PAYABLE	MORTGAGES PAYABLE The following is a summary of mortgages payable as of December 31, 2022 and December 31, 2021. Interest Rate at December 31, December 31, (Amounts in thousands) Maturity December 31, 2022 2022 2021 First mortgages secured by: Variable rate Hudson Commons (1) 11/15/2024 5.97% $ 27,482 $ 28,034 Greenbrook Commons (1) 11/15/2024 5.97% 25,581 26,097 Gun Hill Commons (1) 12/1/2024 5.97% 24,188 24,680 Plaza at Cherry Hill (2) 6/15/2025 8.00% 29,000 28,244 Plaza at Woodbridge (3) 6/8/2027 5.26% 52,947 54,029 Total variable rate debt 159,198 161,084 Fixed rate Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner 5/1/2023 3.90% 9,020 9,698 Hudson Mall 12/1/2023 5.07% 21,380 22,154 Yonkers Gateway Center 4/6/2024 4.16% 24,996 26,774 Brick Commons 12/10/2024 3.87% 48,636 49,554 West End Commons 12/10/2025 3.99% 24,658 25,100 Las Catalinas Mall 2/1/2026 4.43% 119,633 123,977 Town Brook Commons 12/1/2026 3.78% 30,825 31,400 Rockaway River Commons 12/1/2026 3.78% 27,291 27,800 Hanover Commons 12/10/2026 4.03% 62,453 63,000 Tonnelle Commons 4/1/2027 4.18% 98,870 100,000 Manchester Plaza 6/1/2027 4.32% 12,500 12,500 Millburn Gateway Center 6/1/2027 3.97% 22,489 22,944 Totowa Commons 12/1/2027 4.33% 50,800 50,800 Woodbridge Commons 12/1/2027 4.36% 22,100 22,100 Brunswick Commons 12/6/2027 4.38% 63,000 63,000 Rutherford Commons 1/6/2028 4.49% 23,000 23,000 Kingswood Center 2/6/2028 5.07% 69,935 70,815 Hackensack Commons 3/1/2028 4.36% 66,400 66,400 Marlton Commons 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (Vauxhall) 12/10/2028 4.01% 45,600 45,600 The Shops at Riverwood 6/24/2029 4.25% 21,466 — Freeport Commons 12/10/2029 4.07% 43,100 43,100 The Outlets at Montehiedra 6/1/2030 5.00% 77,531 79,381 Montclair (4) 8/15/2030 3.15% 7,250 7,250 Garfield Commons 12/1/2030 4.14% 40,300 40,300 Woodmore Towne Centre 1/6/2032 3.39% 117,200 117,200 Mount Kisco Commons 11/15/2034 6.40% 11,760 12,377 Total fixed rate debt 1,540,293 1,534,324 Total mortgages payable 1,699,491 1,695,408 Unamortized debt issuance costs (7,801) (8,218) Total mortgages payable, net of unamortized debt issuance costs $ 1,691,690 $ 1,687,190 (1) Bears interest at one month LIBOR plus 190 bps. (2) Bears interest at the Prime Rate plus 50 bps with a minimum rate of 4.25%. (3) Bears interest at one month SOFR plus 226 bps. The variable component of the debt is hedged with an interest rate cap agreement to limit SOFR to a maximum of 3%. (4) Bears interest at LIBOR plus 257 bps. The fixed and variable components of the debt are hedged with an interest rate swap agreement, fixing the rate at 3.15%, which expires at the maturity of the loan. The net carrying amount of real estate collateralizing the above indebtedness amounted to approximately $1.5 billion as of December 31, 2022. 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 December 31, 2022, we were in compliance with all debt covenants. As of December 31, 2022, the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2023 $ 351,497 2024 166,380 2025 72,683 2026 229,553 2027 316,771 Thereafter 562,607 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. On June 3, 2020, we entered into a third amendment to the Agreement, which 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. On August 9, 2022, we restated and amended the Agreement, in order to, among other things, increase the credit facility size by $200 million to $800 million and extend the maturity date to February 9, 2027, with two six-month extension options. Borrowings under the amended and restated Agreement are subject to interest at SOFR plus 1.05% to 1.50% and an annual facility fee of 15 to 30 basis points. Both the spread over SOFR and the facility fee are based on our current leverage ratio and are subject to change. The Agreement contains customary financial covenants including a maximum leverage ratio of 60% and a minimum fixed charge coverage ratio of 1.5x. No amounts were drawn or outstanding under the Agreement as of December 31, 2022 and 2021. As of December 31, 2022, financing costs associated with executing the Agreement of $6.7 million, are included in the prepaid expenses and other assets line item of the consolidated balance sheets, as deferred financing costs, net. Mortgage on Plaza at Cherry Hill On June 3, 2022, the Company refinanced the mortgage loan secured by its property, Plaza at Cherry Hill, located in Cherry Hill, NJ, with a new $29 million, 3-year, floating rate mortgage. The floating rate is calculated as the Prime Rate plus 50 basis points with a floor of 4.25% and is interest-only for the entire loan term. Mortgage on Plaza at Woodbridge On June 8, 2022, the Company refinanced the mortgage loan secured by its property, Plaza at Woodbridge, located in Woodbridge, NJ, and entered into a new 5-year loan agreement for $52.9 million. The terms of the loan require payment of interest at a floating rate equal to 2.26% plus one-month SOFR. Additionally, the agreement with the lender requires the Company to enter into an interest rate cap agreement to limit the maximum SOFR to 3% if the current rate is greater than 2% for five consecutive business days. On June 23, 2022, the Company purchased a one Mortgage on The Shops at Riverwood On June 24, 2022, the Company obtained a 7-year non-recourse mortgage loan of $21.5 million at a fixed interest rate of 4.25% to partially fund the acquisition of The Shops at Riverwood. 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. In December 2020, the non-recourse mortgage loan on Las Catalinas Mall was modified to convert the mortgage from an amortizing 4.43% loan to interest only payments, starting at 3.00% in 2021 and increasing 50 basis points annually until returning to 4.43% in 2024 and thereafter. The terms of the modification enable the Company, at its option, to repay the loan at a discounted value of $72.5 million, beginning in August 2023 through the extended maturity date of February 2026. While it is possible we will be able to repay the loan at the discounted value in the future, it is contingent upon certain factors including the future operating performance of the property as well as the ability to meet all required payments on the loan. Therefore, in accordance with ASC 470-60 Troubled Debt Restructurings , the Company did not recognize a gain at the time of the restructuring, as the future cash payments, including contingent payments, are greater than the carrying value of the mortgage payable. We have accrued interest of $5.4 million related to this mortgage, which is included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheets as of December 31, 2022. We incurred $1.2 million of lender fees in connection with the loan modification which are treated as a reduction of the mortgage payable balance and amortized over the term of the loan in accordance with the provisions under ASC 470-60. Mortgage on The Outlets at Montehiedra In connection with the refinancing of the loan secured by The Outlets at Montehiedra in the second quarter of 2020, the Company provided a $12.5 million limited corporate guarantee. The guarantee is reduced commensurate with the loan amortization schedule and will reduce to zero in approximately 3.8 years. As of December 31, 2022, the remaining exposure under the guarantee is $8.0 million. There was no separate liability recorded related to this guarantee.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company elected to be taxed as a REIT under sections 856-860 of the Code, commencing with the filing of its 2015 tax return for its tax year ended December 31, 2015. So long as the Company qualifies as a REIT under the Code, the Company will not be subject to U.S. federal income tax on net taxable income that it distributes annually to its shareholders. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates 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, in particular income taxes arising from its operating activities in Puerto Rico, which are included in income tax expense in the consolidated statements of income and comprehensive income. In addition, the Company’s taxable REIT subsidiary (“TRS”) is subject to income tax at regular corporate rates. The Company satisfied its REIT distribution requiremen t by distributing $0.64, $0.60 and $0.68 per common share in 2022, 2021 and 2020, respectively. The distributions comprised a regular quarterly cash dividend of $0.16 and $0.15 per common share declared for each quarter of 2022 and 2021, respectively. During the year ended December 31, 2020, the Company declared a regular cash dividend of $0.22 per common share for the first quarter of 2020 and a special cash dividend of $0.46 per common share in December 2020. The taxability of such dividends for the years ended December 31, 2022, 2021 and 2020 are as follows: Year Ended December 31, 2022 2021 2020 Dividend paid per share (1) $ 0.64 $ 0.60 $ 0.68 Ordinary income 100 % 100 % 100 % Return of capital — % — % — % Capital gains — % — % — % (1) The special cash dividend of $0.46 per common share declared in December 2020, and paid in January 2021, was fully allocable to the 2020 tax year. 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, the Company maintains certain non-real estate operating activities that could not be performed by the REIT, and occur through the Company’s TRS, which is subject to federal, state and local income taxes. These income taxes are included in income tax expense in the consolidated statements of income and comprehensive income. During the year ended December 31, 2022, the REIT was subject to Puerto Rico corporate income taxes on its allocable share of the Company’s Puerto Rico operating activities. 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 profits tax on the earnings and profits generated from its allocable share of the Company’s Puerto Rico operating activities and such tax is included in income tax expense in the consolidated statements of income and comprehensive income. As a result of The Outlets at Montehiedra mortgage refinancing and the Las Catalinas Mall troubled debt restructuring that occurred during the year ended December 31, 2020, the Company recognized a gain on extinguishment of debt for U.S. federal income tax purposes and implemented various tax planning strategies to limit its impact on the Company’s overall U.S. federal taxable income. The strategies implemented resulted in the recognition of a state and local income tax liability and corresponding deferred tax asset for the REIT of $4.5 million during the year ended December 31, 2020. During the year ended December 31, 2021, based on the filing of the 2020 state and local income tax returns, this amount was reduced by $1.2 million due to the final taxable amount being lower than what was originally estimated. During the year ended December 31, 2022, no state and local income tax was recognized as a result of the transactions. 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. Management’s determination of the ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the underlying temporary differences become deductible. As of December 31, 2022, with the exception of certain state and local deferred tax assets, management determined that it is more likely than not that all deferred tax assets will be realized. The Company recorded a valuation allowance against certain state and local deferred tax assets because management determined it is not more likely than not that these state and local deferred tax assets will be realized. There has been no change to the valuation allowance recorded against these state and local deferred tax assets during 2022. We account for uncertain tax positions in accordance with ASC 740 Income Taxes on the basis of a two-step process whereby (i) we determine whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, we recognize the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority . During the years ended December 31, 2022 and 2021, income before income taxes from the Company’s operating activities in the United States was $41.2 million and $100.4 million, respectively, and in Puerto Rico was $9.1 million and $8.5 million, respectively. For the year ended December 31, 2022, the Puerto Rico income tax expense was $2.9 million, as compared to a Puerto Rico income tax expense of $2.4 million and a REIT state and local income tax benefit of $1.2 million for the year ended December 31, 2021. Income taxes are accounted for under the asset and liability method. Deferred income taxes are recognized for the tax effect of temporary differences between the financial reporting basis and the tax basis of taxable assets and liabilities and for the tax effect of carried forward tax attributes such as net operating losses and tax credits. Income tax expense (benefit) for the years ended December 31, 2022, 2021 and 2020 consists of the following: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Income tax expense (benefit): Current: U.S. federal income tax $ 11 $ — $ — U.S. state and local income tax 10 (1,228) 4,525 Puerto Rico income tax 78 110 1,293 Total current 99 (1,118) 5,818 Deferred: U.S. federal income tax 1 5 (6) Puerto Rico income tax 2,803 2,252 (44,808) Total deferred 2,804 2,257 (44,814) Total income tax expense (benefit) $ 2,903 $ 1,139 $ (38,996) Provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate to consolidated net income before income taxes as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Federal provision at statutory tax rate (1) $ 10,551 $ 22,880 $ 12,338 REIT income before income taxes not subject to federal tax provision (10,539) (22,875) (12,339) State and local income tax provision, net of federal benefit 10 225 11 Puerto Rico income tax provision 2,881 2,362 (43,515) Change in valuation allowance — (1,453) 4,509 Total income tax expense (benefit) $ 2,903 $ 1,139 $ (38,996) (1) Federal statutory tax rate of 21% for the years ended December 31, 2022, 2021 and 2020. Below is a table summarizing the Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021: Balance at (Amounts in thousands) December 31, 2022 December 31, 2021 Deferred tax assets: Depreciation $ 37,404 $ 40,793 Amortization of deferred financing costs 650 860 Rental revenue deemed uncollectible 525 735 Charitable contribution 7 7 Net operating loss 1,451 1,425 Valuation allowance — (3,061) Total deferred tax assets 40,037 40,759 Deferred tax liabilities: Mortgage liability (3,021) (1,394) Straight line rent (1,009) (961) Amortization of acquired leases (178) (205) Accrued interest expense (1,213) (779) Total deferred tax liabilities (5,421) (3,339) Net deferred tax assets $ 34,616 $ 37,420

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES Leases as lessor We have approximately 900 operating leases at our retail shopping centers, malls and industrial properties which generate rental income from tenants and operating cash flows for the Company. Our tenant base comprises a diverse group of merchants including department stores, supermarkets, discounters, entertainment offerings, health clubs, DIY stores, in-line specialty shops, restaurants and other food and beverage vendors and service providers. Tenant leases under 10,000 sf generally have lease terms of 5 years or less. Tenant leases 10,000 sf or more are considered anchor leases and generally have lease terms of 10 to 25 years, with one or more renewal options available upon expiration of the initial lease term. Contractual rent increases for the renewal options are often fixed at the time of the initial lease agreement which may result in tenants being able to exercise their renewal options at amounts that are less than the fair value of the rent at the date of renewal. The components of rental revenue for the years ended December 31, 2022, 2021 and 2020 were as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Rental Revenue Fixed lease revenue $ 290,784 $ 318,585 $ 235,488 Variable lease revenue 105,592 103,882 92,792 Total rental revenue $ 396,376 $ 422,467 $ 328,280 Property, plant and equipment under operating leases as lessor As of December 31, 2022, 2021 and 2020 , substantially all of the Company’s real estate assets are subject to operating leases. Maturity analysis of lease payments as lessor The Company’s operating leases, including those with revenue recognized on a cash basis, are disclosed in the aggregate due to their consistent nature as real estate leases. As of December 31, 2022 , the undiscounted cash flows to be received from lease payments of our operating leases on an annual basis for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2023 $ 275,745 2024 254,064 2025 234,884 2026 214,970 2027 196,381 Thereafter 871,650 Total undiscounted cash flows $ 2,047,694 Leases as lessee As of December 31, 2022, the Company had twenty properties in its portfolio either completely or partially on land or in a building owned by third parties. These properties are leased or subleased to us pursuant to ground leases, building leases or easements, with remaining terms ranging from two During the year ended December 31, 2022, the Company reassessed the lease term of one of its ground leases due to our election to renew the ground lease and remeasured the lease liability by using revised inputs as of the reassessment date of the respective lease. As a result of the reassessment, the Company recorded an additional $1.1 million of operating lease ROU asset and corresponding lease liability related to the ground lease. On December 31, 2020, the Company recognized $5.7 million of operating lease ROU assets and $0.7 million of corresponding operating lease liabilities in connection with the Company’s acquisition of Sunrise Mall, which included the acquisition of the lessee positions of ground leases. The components of lease expense for the years ended December 31, 2022, 2021 and 2020 were as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Lease expense Operating lease cost (1) $ 9,707 $ 10,162 $ 10,875 Variable lease cost 2,753 2,710 2,792 Total lease expense $ 12,460 $ 12,872 $ 13,667 (1) During the years ended December 31, 2022, 2021, and 2020 the Company recognized sublease income of $18.6 million, $19.1 million and $17.7 million, respectively, included in rental revenue on the consolidated statements of income and comprehensive income in relation to certain ground and building lease arrangements. Operating lease cost includes amortization of below-market ground lease intangibles and straight-line lease expense. Supplemental balance sheet information related to leases as of December 31, 2022 and December 31, 2021 was as follows: December 31, 2022 December 31, 2021 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 14.3 years 33.2 years 14.8 years 34.2 years Weighted-average discount rates 4.30 % 4.01 % 3.98 % 4.01 % Supplemental cash information related to leases for the years ended December 31, 2022 and 2021 was as follows: (Amounts in thousands) Year Ended December 31, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 9,284 $ 9,584 Operating cash flows from finance lease 121 120 Financing cash flows from finance lease 12 11 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,852 $ 772 Maturity analysis of lease payments as lessee The undiscounted cash flows to be paid on an annual basis for the next five years and thereafter are presented in the table below. The total amount of lease payments, on an undiscounted basis, are reconciled to the lease liability on the consolidated balance sheet by considering the present value discount. (Amounts in thousands) Operating Finance Year Ending December 31, leases lease 2023 $ 9,321 $ 109 2024 8,594 109 2025 6,692 109 2026 6,460 124 2027 6,201 127 Thereafter 45,607 6,172 Total undiscounted cash flows 82,875 6,750 Present value discount (23,086) (3,734) Discounted cash flows $ 59,789 $ 3,016

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurement and Disclosures defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis Financial assets and liabilities that are measured at fair value on our consolidated balance sheets consist of one interest rate cap and one interest rate swap. We rely on third-party valuations that use market observable inputs, such as credit spreads, yield curves and discount rates, to assess the fair value of these instruments. In accordance with the fair value hierarchy established by ASC 820, these financial instruments have been classified as Level 2 as quoted market prices are not readily available for valuing the assets. The table below summarizes the recorded amount of assets and liabilities measured at fair value on a recurring basis as of December 31, 2022: As of December 31, 2022 (Amounts in thousands) Level 1 Level 2 Level 3 Total Interest rate cap and swap (1) $ — $ 1,976 $ — $ 1,976 (1) Included in Prepaid expenses and other assets on the consolidated balance sheets. There were no financial assets or liabilities measured at fair value on a recurring basis as of December 31, 2021. Derivatives and Hedging When we designate a derivative as a hedge, depending on the nature of the hedge, changes in the fair value of the instrument will be recognized in OCI until the gains or losses are reclassified to earnings. Derivatives that are not designated as hedges are adjusted to fair value through earnings. As of December 31, 2022, the Company was a counterparty to two interest rate derivative agreements which have been designated as cash flow hedges. On June 23, 2022, in conjunction with the refinancing of the mortgage loan encumbering our property Plaza at Woodbridge, we entered into an interest rate cap agreement (the “Cap Agreement”) with a third party to limit the maximum SOFR of our floating rate debt to 3%. On the date of the Cap Agreement, we elected to designate cash flow hedge accounting for this derivative instrument. The table below summarizes our derivative instruments, which are used to hedge the corresponding variable rate debt, as of December 31, 2022: (Amounts in thousands) Hedged Instrument Fair Value Notional Amount Spread Interest Rate Effective Interest Rate Expiration Plaza at Woodbridge interest rate cap $ 509 $ 52,947 SOFR + 2.26% 6.27% 5.26% 7/1/2023 Montclair interest rate swap $ 1,467 $ 7,250 LIBOR + 2.57% 6.89% 3.15% 8/15/2030 The table below summarizes the effect of our derivative instruments on our consolidated statements of income and comprehensive income for the years ended December 31, 2022 and 2021: Unrealized Gain Recognized in OCI on Derivatives (Amounts in thousands) Years ended December 31, Hedged Instrument 2022 2021 Plaza at Woodbridge interest rate cap $ 370 $ — Montclair interest rate swap 286 — Total $ 656 $ — Financial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis There were no financial assets or liabilities measured at fair value on a non-recurring basis as of December 31, 2022 and December 31, 2021. Financial Assets and Liabilities not Measured at Fair Value Financial assets and liabilities that are not measured at fair value on the consolidated balance sheets include cash and cash equivalents and mortgages payable. Cash and cash equivalents are carried at cost, which approximates fair value. The fair value of mortgages payable is calculated based on current market prices and discounted cash flows at the current rate at which similar loans would be made to borrowers with similar credit ratings for the remaining term of such debt, which is provided by a third-party specialist. The fair value of cash and cash equivalents is classified as Level 1 and the fair value of mortgages payable is classified as Level 2. The table below summarizes the carrying amounts and fair value of our level 2 financial instruments as of December 31, 2022 and December 31, 2021. As of December 31, 2022 As of As of December 31, 2021 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Mortgages payable (1) $ 1,699,491 $ 1,542,869 $ 1,695,408 $ 1,692,674 (1) Carrying amounts exclude unamortized debt issuance costs of $7.8 million and $8.2 million as of December 31, 2022 and December 31, 2021, 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, operating performance, and environmental and regulatory changes, which may result in property operational disruption and could indicate that the carrying amount may not be recoverable. There were no impairment charges recognized during the year ended December 31, 2022. During the year ended December 31, 2021, the Company recognized impairment charges on two retail properties that the Company was actively marketing. The Company recognized an impairment charge of $0.4 million on its property in Westfield, NJ which was sold on July 22, 2021. Additionally, the Company recognized an impairment charge of $0.1 million on its ground lease in Vallejo, CA which was sold on December 21, 2021. Prior to these dispositions, the carrying value of these assets exceeded the estimated fair value less costs to sell. The aggregated fair values of $7.9 million were based on sale agreements under negotiation with third-party buyers. During the year ended December 31, 2020, the Company recognized an impairment charge of $3.1 million on a parcel of our property in Lodi, NJ, which was sold on January 8, 2021 . Prior to the sale of the parcel, the carrying value of this property exceeded its estimated fair value less costs to sell of $7.2 million . The fair value of the parcel was based on a sale agreement under negotiation with a third-party buyer. The Company believes the inputs utilized to measure these 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. Aggregate impairment charges of $0.5 million and $3.1 million, respectively, are included as an expense within casualty and impairment loss on our consolidated statements of income and comprehensive income for the years ended December 31, 2021 and 2020.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Matters From time to time, we are a party to various legal proceedings, claims or regulatory inquiries and investigations arising out of, or incident to, our ordinary course of business. While we are unable to predict with certainty the outcome of any particular matter, management does not currently expect, when such matters are resolved, that our resulting exposure to loss contingencies, if any, will have a material adverse effect on our results of operations or consolidated financial position. Redevelopment and Anchor Repositioning The Company has 25 active development, redevelopment or anchor repositioning projects with total estimated costs of $216 million, of which $159.7 million remains to be funded as of December 31, 2022. We continue to monitor the stabilization dates of these projects, which can be impacted from economic conditions affecting our tenants, vendors and supply chains. We have identified future projects in our development pipeline, but we are under no obligation to execute and fund any of these projects and each of these projects is being further evaluated based on market conditions. Insurance The Company maintains numerous insurance policies including for general liability, property, pollution, acts of terrorism, trustees’ and officers’, cyber, workers’ compensation and automobile-related liabilities. However, all such policies are subject to terms, conditions, exclusions, deductibles and sub-limits, amount other limiting factors. For example, the Company’s terrorism insurance excludes coverage for nuclear, biological, chemical or radiological terrorism events as defined by the Terrorism Risk Insurance Program Reauthorization Act. The Company’s primary and excess insurance policies providing coverage for pollution related losses have an aggregate limit of $50 million and provide remediation and business interruption coverage for pollution incidents, which pursuant to our policies expressly include the presence and dispersal of viruses. On December 23, 2020, the Company initiated litigation in New Jersey state court, Bergen County, under these policies to recover uncollected rents and other amounts resulting from the COVID-19 virus. Insurance premiums are typically charged directly to each of the properties 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 consolidated financial position. 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 $1.6 million and $1.7 million on our consolidated balance sheets as of December 31, 2022 and 2021, 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. 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. As of December 31, 2022, we have not experienced any material adverse effects from tenant bankruptcies. On January 17, 2023, Party City filed for Chapter 11 bankruptcy protection. The Company has three leases with Party City comprising approximately 35,000 sf, which generate $1.1 million in annual rental revenue. One of these leases, which generates $0.4 million in annual rental revenue, is a franchise and is not impacted by the bankruptcy filing. Additionally, according to public reports, Bed Bath & Beyond is at risk of filing for bankruptcy and has seven leases with us, including wholly-owned store concepts buybuy Baby and Harmon Face Values. These leases generate $4.6 million in annual rental revenue. At this time we have not experienced any material adverse effects from either tenant but may in the future.

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	12 Months Ended
	Dec. 31, 2022
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) December 31, 2022 December 31, 2021 Other assets $ 18,386 $ 19,712 Deferred tax asset, net 34,616 37,420 Deferred financing costs, net of accumulated amortization of $7,269 and $5,932, respectively 6,749 2,234 Finance lease right-of-use asset 2,724 2,724 Prepaid expenses: Real estate taxes 12,080 9,982 Insurance 1,391 1,088 Rent, licenses/fees 1,261 951 Total Prepaid expenses and other assets $ 77,207 $ 74,111

ACCOUNTS PAYABLE, ACCRUED EXPEN

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2022
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 and other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) December 31, 2022 December 31, 2021 Accrued capital expenditures and leasing costs $ 35,732 $ 19,164 Deferred tenant revenue 28,468 28,898 Accrued interest payable 10,789 9,879 Accrued payroll expenses 9,527 9,134 Security deposits 8,048 6,693 Other liabilities and accrued expenses 6,939 8,057 Finance lease liability 3,016 3,004 Total accounts payable, accrued expenses and other liabilities $ 102,519 $ 84,829

INTEREST AND DEBT EXPENSE

INTEREST AND DEBT EXPENSE	12 Months Ended
	Dec. 31, 2022
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: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Interest expense $ 55,557 $ 54,946 $ 68,184 Amortization of deferred financing costs 3,422 2,992 2,831 Total Interest and debt expense $ 58,979 $ 57,938 $ 71,015

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2022
Noncontrolling Interest [Abstract]
EQUITY AND NONCONTROLLING INTEREST	EQUITY AND NONCONTROLLING INTEREST At-The-Market Program On August 15, 2022 the Company and the Operating Partnership entered into an equity distribution agreement (the “Equity Distribution Agreement”) with various financial institutions acting as agents, forward sellers, and forward purchasers. Pursuant to the Equity Distribution Agreement, the Company may from time to time offer and sell, through the agents and forward sellers, the Company’s common shares, par value $0.01 per share, having an aggregate offering price of up to $250 million (the “ATM Program”). Concurrently with the Equity Distribution Agreement, the Company entered into separate master forward confirmations (collectively, the “Master Confirmations”) with each of the forward purchasers. Sales under the ATM Program may be made from time to time, as needed, by means of ordinary brokers’ transactions or other transactions that are deemed to be “at the market” offerings, in privately negotiated transactions, which may include block trades, or as otherwise agreed with the sales agents. The ATM Program replaces the Company’s previous at-the-market program established on June 7, 2021. The Equity Distribution Agreement provides that the Company may also enter into forward sale agreements pursuant to any Master Confirmation and related supplemental confirmations with the forward purchasers. In connection with any forward sale agreement, a forward purchaser will, at the Company’s request, borrow from third parties, through its forward seller, and sell a number of shares equal to the amount provided in such agreement. As of December 31, 2022, the Company has not issued any common shares under the ATM Program. Future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common shares, and our capital needs. The Company has no obligation to sell any shares under the ATM Program. 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 years ended December 31, 2022 and December 31, 2021, no shares were repurchased by the Company. As of December 31, 2022, the Company has repurchased 5.9 million common shares at a weighted average share price of $9.22, for a total of $54.1 million. All share repurchases by the Company were completed between March and April of 2020. There is approximately $145.9 million remaining for share repurchases under this program. Units of the Operating Partnership The Operating Partnership’s capital includes general and common limited partnership interests in the operating partnership. As of December 31, 2022, 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 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. Dividends and Distributions During the years ended December 31, 2022 and 2021, the Company declared distributions on our common shares and OP units of $0.64 and $0.60 per share/unit, respectively. This comprised regular quarterly dividends of $0.16 and $0.15 per common share and OP unit declared for each quarter in 2022 and 2021, respectively. During the year ended December 31, 2020 the Company declared distributions on our common shares and OP units of 0.68 per share/unit in the aggregate, which comprised a regular quarterly dividend of $0.22 per common share and OP unit declared for the first quarter of 2020 and a special cash dividend of $0.46 per common share and OP unit declared in December 2020 and paid on January 19, 2021. As a result of COVID-19 and the uncertainties it generated, the Company temporarily suspended quarterly dividend distributions for the second and third quarters of 2020. We have a Dividend Reinvestment Plan (the “DRIP”), whereby shareholders may use their dividends to purchase shares. During the years ended December 31, 2022, 2021 and 2020, 5,512, 4,442 and 3,445 shares were issued under the DRIP, respectively. 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% weighted-average interest in the Operating Partnership for the year ended December 31, 2022. 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. During the years ended December 31, 2022, 2021 and 2020, 250,000, 100,000 and 1,355,836 units, respectively, were redeemed for an equivalent amount of common shares of the Company. Noncontrolling Interests in Consolidated Subsidiaries The Company’s noncontrolling interests relate to the 5% interest held by others in our property in Walnut Creek, CA (Mount Diablo) and 17.5% held by others in our property in Massapequa, NY. T

EARNINGS PER SHARE AND UNIT

EARNINGS PER SHARE AND UNIT	12 Months Ended
	Dec. 31, 2022
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 computation of diluted EPS reflects potential dilution of securities by adding potential common shares, including stock options and unvested restricted shares, to the weighted average number of common shares outstanding for the period. For the years ended December 31, 2022 and 2021 there were options outstanding for 3,930,762 shares that potentially could be exercised for common shares. During the year ended December 31, 2020 there were options outstanding for 4,930,762 shares that potentially could be exercised for common shares. During the years ended December 31, 2022, 2021 and 2020, no options were included in the diluted EPS calculation as their exercise prices were higher than the average market prices of our common shares. In addition, as of December 31, 2022 there were 53,378 unvested restricted shares outstanding that potentially could become unrestricted common shares. The computation of diluted EPS for the years ended December 31, 2022, 2021 and 2020 included 59,459, 54,988, and 77,289 weighted average unvested restricted shares outstanding, respectively, as their effect is dilutive. The effect of the redemption of OP and vested LTIP units is not reflected in the computation of basic and diluted earnings per share, as they are redeemable for common shares on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed redemption of these units would have no net impact on the determination of diluted earnings per share since they would be anti-dilutive. The following table sets forth the computation of our basic and diluted earnings per share: Year Ended December 31, (Amounts in thousands, except per share amounts) 2022 2021 2020 Numerator: Net income attributable to common shareholders $ 46,170 $ 102,686 $ 93,589 Less: Earnings allocated to unvested participating securities (23) (47) (62) Net income available for common shareholders - basic $ 46,147 $ 102,639 $ 93,527 Impact of assumed conversions: OP and LTIP units 1,635 3,675 81 Net income available for common shareholders - dilutive $ 47,782 $ 106,314 $ 93,608 Denominator: Weighted average common shares outstanding - basic 117,366 117,029 117,722 Effect of dilutive securities: Restricted share awards 59 55 77 Assumed conversion of OP and LTIP units 4,215 4,363 103 Weighted average common shares outstanding - diluted 121,640 121,447 117,902 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.39 $ 0.88 $ 0.79 Earnings per common share - Diluted $ 0.39 $ 0.88 $ 0.79 Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Year Ended December 31, (Amounts in thousands, except per unit amounts) 2022 2021 2020 Numerator: Net income attributable to unitholders $ 48,065 $ 106,982 $ 97,749 Less: net income attributable to participating securities (23) (47) (62) Net income available for unitholders $ 48,042 $ 106,935 $ 97,687 Denominator: Weighted average units outstanding - basic 121,374 120,966 121,957 Effect of dilutive securities issued by Urban Edge 59 55 77 Unvested LTIP units 207 1,086 777 Weighted average units outstanding - diluted 121,640 122,107 122,811 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.40 $ 0.88 $ 0.80 Earnings per unit - Diluted $ 0.39 $ 0.88 $ 0.80

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Omnibus Share Plan On January 7, 2015 our board and initial shareholder approved the Urban Edge Properties Omnibus Share Plan (the “Omnibus Share Plan”), under which awards may be granted up to a maximum of 15,000,000 of our common shares or share equivalents. Pursuant to the Omnibus Share Plan, stock options, LTIP units, operating partnership units and restricted shares were granted. Long-Term Incentive Plans On February 24, 2017, the Company established the 2017 Outperformance Plan (“2017 OPP”) under the Omnibus Share Plan, a multi-year, performance-based equity compensation plan under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units if, and only if, we achieve predetermined total shareholder return (“TSR”) thresholds and/or the TSRs of certain peer companies over the three-year period beginning on the date the plan was established. The fair value of the 2017 OPP on the date of grant was $4.1 million. On February 22, 2018, the Company established the 2018 Long-Term Incentive Plan (“2018 LTI Plan”) under the Omnibus Share 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 the passage of time and performance goals tied to our relative and absolute TSR. Equity awards granted under the 2018 LTI Plan are weighted, in terms of grant date and fair value, 80% performance-based and 20% time-based. The fair value of the 2018 LTI Plan on the date of grant was $3.6 million On April 4, 2019, the Company established the 2019 Long-Term Incentive Plan (“2019 LTI Plan”) under the Omnibus Share 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 the passage of time (one-third of the program) and performance goals tied to our relative and absolute TSR during the three-year performance period following their grant (two-thirds of the program). The fair value of the 2019 LTI Plan on the date of grant was $6.3 million. In the years ending December 31, 2022, 2021, and 2020 we recognized $0.9 million, $2.1 million and $3.5 million, respectively, of compensation expense related to the 2017 OPP, 2018 LTI Plan and 2019 LTI Plan. The compensation expense incurred during the year ended December 31, 2020, included $0.2 million related to the 2015 OPP Plan which expired in February 2020. As of December 31, 2022, there was less than $0.1 million unrecognized compensation cost related to the 2018 LTI Plan. 2018 Inducement Equity Plan On September 26, 2018, the Company established an equity incentive plan to induce certain executives to join the Company (the “Inducement Plan”). Under the Inducement Plan, the Compensation Committee of the Board of Trustees may grant, subject to any Company performance conditions as specified by the Compensation Committee, awards to individuals who were not previously employees as an inducement material to the individual’s entry into employment with the Company. The terms and conditions of the Inducement Plan and any awards thereunder granted are substantially similar to those under the 2015 Omnibus Share Plan. The Company has granted an aggregate of 352,890 restricted LTIP Units and 2,000,000 stock options under the Inducement Plan with grant date fair values of $7.2 million and $9.3 million, respectively. As of December 31, 2022, there were no outstanding unvested LTIP units or stock options related to this plan. 2020 Long-Term Incentive Plan On February 20, 2020, the Company established the 2020 Long-Term Incentive Plan (“2020 LTI Plan”) under the Omnibus Share 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 the passage of time (one-third of the program) and performance goals tied to our relative and absolute TSR during the three-year performance period following their grant (two-thirds of the program). The total grant date fair value under the 2020 LTI Plan was $8.8 million comprising performance-based and time-based awards. Performance-based awards For the performance-based awards under the 2020 LTI Plan, participants, have the opportunity to earn awards in the form of LTIP Units if Urban Edge’s absolute and/or relative TSR meets certain criteria over the three-year Performance Period beginning on February 20, 2020 and ending on February 19, 2023. The Company granted performance-based awards under the 2020 LTI Plan that represent 630,774 LTIP Units. The fair value of the performance-based award portion of the 2020 LTI Plan on the date of grant was $5.9 million using a Monte Carlo simulation to estimate the fair value through a risk-neutral premise. Assumptions include historical volatility (21.4%), risk-free interest rates (1.4%), and historical daily return as compared to certain peer companies. Under the Absolute TSR component, 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 18%, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 27%, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or greater than 36%. The Relative TSR component is based on the Company’s performance compared to a peer group comprised of 11 companies. Under the Relative TSR Component, 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 35 th percentile of the peer group, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 55 th percentile of the peer group, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or above the 75 th percentile of the peer group, with earning determined using linear interpolation if in between such relative and absolute TSR thresholds. During the years ended December 31, 2022, 2021, and 2020, respectively, we recognized $1.1 million, $1.3 million, and $1.1 million of compensation expense related to the performance-based awards under the 2020 LTI Plan. Time-based awards The time-based awards granted under the 2020 LTI Plan, also granted in the form of LTIP Units, vest ratably over three years except in the case of our Chairman and Chief Executive Officer, where the vesting is ratably over four years. The Company granted time-based awards under the 2020 LTI Plan that represent 169,004 LTIP units with a grant date fair value of $2.9 million. During the years ended December 31, 2022, 2021 and 2020, respectively, we recognized $0.6 million, $0.7 million, and $1.1 million of compensation expense related to the time-based awards under the 2020 LTI Plan. 2021 Long-Term Incentive Plan On February 10, 2021, the Company established the 2021 Long-Term Incentive Plan (“2021 LTI Plan”) under the Omnibus Share 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 the passage of time (one-half of the program) and performance goals tied to our relative and absolute TSR during the three-year Performance Period following their grant (one-half of the program). The total grant date fair value under the 2021 LTI Plan was $7.8 million, comprising both performance-based and time-based awards. Performance-based awards For the performance-based awards under the 2021 LTI Plan, participants have the opportunity to earn awards in the form of LTIP Units if Urban Edge’s absolute and/or relative TSR meets certain criteria over the three-year Performance Period beginning on February 10, 2021 and ending on February 9, 2024. The Company granted performance-based awards under the 2021 LTI Plan that represent 398,977 LTIP Units. The fair value of the performance-based award portion of the 2021 LTI Plan on the date of grant was $3.9 million using a Monte Carlo simulation to estimate the fair value through a risk-neutral premise. Assumptions include historical volatility (49.9%), risk-free interest rates (0.2%), and historical daily return as compared to certain peer companies. Under the Absolute TSR component, 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 18%, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 27%, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or greater than 36%. The Relative TSR component is based on the Company’s performance compared to a peer group comprised of 14 companies. Under the Relative TSR Component, 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 35 th percentile of the peer group, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 55 th percentile of the peer group, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or above the 75 th percentile of the peer group, with earning determined using linear interpolation if in between such relative and absolute TSR thresholds. During the years ended December 31, 2022 and 2021, respectively, we recognized $0.9 million and $1.0 million of compensation expense related to the performance-based awards under the 2021 LTI Plan. Time-based awards The time-based awards granted under the 2021 LTI Plan, also granted in the form of LTIP Units, vest ratably over three years except in the case of our Chairman and Chief Executive Officer, where the vesting is ratably over four years. As of December 31, 2022, the Company granted time-based awards under the 2021 LTI Plan that represent 273,615 LTIP units with a grant date fair value of $3.9 million. During the years ended December 31, 2022 and 2021, respectively, we recognized $1.3 million and $1.0 million of compensation expense related to the time-based awards under the 2021 LTI Plan. 2022 Long-Term Incentive Plan On February 11, 2022, the Company established the 2022 Long-Term Incentive Plan (“2022 LTI Plan”) under the Omnibus Share Plan. The plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, receive awards in the form of LTIP Units that, with respect to one half of the program, vest based solely on the passage of time, and with respect to the other half of the program, are earned and vest if certain relative and absolute TSR and/or FFO growth targets are achieved by the Company over a three-year performance period. The total grant date fair value under the 2022 LTI Plan was $8.6 million comprising both performance-based and time-based awards as described further below: Performance-based awards For the performance-based awards under the 2022 LTI plan, participants have the opportunity to earn awards in the form of LTIP Units if Urban Edge’s absolute and/or relative TSR meets certain criteria over the three-year performance measurement period (the “TSR Performance Period”) beginning on February 11, 2022 and ending on February 10, 2025. Participants also have the opportunity to earn awards in the form of LTIP Units if Urban Edge’s FFO growth component meets certain criteria over the three-year performance measurement period (the “FFO Performance Period”) beginning January 1, 2022 and ending on December 31, 2024. The Company granted performance-based awards under the 2022 LTI Plan representing 349,438 Units. The fair value of the performance-based award portion of the 2022 LTI Plan on the grant date was $4.3 million using a Monte Carlo simulation to estimate the fair value of the Absolute and Relative components through a risk-neutral premise. Assumptions include historical volatility (51.0%), risk-free interest rates (1.7%), and historical daily return as compared to certain peer companies. Under the absolute TSR component, 50% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to 18%, 100% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to 27%, and 200% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to or greater than 36%. The relative TSR component is based on the Company’s performance compared to a peer group comprised of 14 companies. Under the relative TSR Component, 50% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to the 35 th percentile of the peer group, 100% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to the 55 th percentile of the peer group, and 200% of the LTIP Units will be earned if the Company’s TSR over the TSR Performance Period is equal to or above the 75 th percentile of the peer group. Under the FFO growth component, 50% of the LTIP Units will be earned if the Company’s FFO growth over the FFO Performance Period is equal to 3%, 100% of the LTIP Units will be earned if the Company’s FFO growth over the FFO Performance Period is equal to 5%, and 200% of the LTIP Units will be earned if the Company’s FFO growth over the FFO Performance Period is equal to or greater than 7%. If the Company’s performance-based awards are between such thresholds, earnings will be determined using linear interpolation. During the year ended December 31, 2022, we recognized $0.7 million of compensation expense related to the performance-based awards under the 2022 LTI Plan. Time-based awards The time-based awards granted under the 2022 LTI Plan, also granted in the form of LTIP Units, vest ratably over three years except in the case of our Chairman and Chief Executive Officer, where the vesting is ratable over four years. As of December 31, 2022, the Company granted time-based awards under the 2022 LTI Plan that represent 266,766 LTIP Units with a grant date fair value of $4.3 million. During the year ended December 31, 2022, we recognized $1.5 million of compensation expense related to the time-based awards under the 2022 LTI Plan. 2023 Long-Term Incentive Plan On February 10, 2023, the Company established the 2023 Long-Term Incentive Plan (“2023 LTI Plan”) under the Omnibus Share Plan. The plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, receive awards in the form of LTIP Units that, with respect to one half of the program, vest based solely on the passage of time, and with respect to the other half of the program, are earned and vest if certain relative and absolute TSR and/or FFO and same-property NOI growth targets are achieved by the Company over a three year performance period (one-half of the program). The total grant date fair value under the 2023 LTI Plan was $8.4 million, comprising both performance-based and time-based awards. Units and Deferred Share Units Granted to Trustees All trustees are granted annual awards in the form of LTIP units or Deferred Share Units (“DSU”). The following table presents trustee awards granted over the last three years: Award Date Award Type # of Units Granted Weighted Average Grant Date Fair Value October 3, 2022 LTIP 15,566 $10.97 September 1, 2022 LTIP 14,194 12.74 June 10, 2022 DSU 8,645 13.88 June 10, 2022 LTIP 51,498 13.99 November 22, 2021 LTIP 10,208 14.17 July 1, 2021 LTIP 12,254 15.02 May 5, 2021 DSU 6,476 15.44 May 5, 2021 LTIP 39,756 15.09 May 6, 2020 DSU 12,121 8.25 May 6, 2020 LTIP 87,117 8.03 Shares Under Option All stock options granted have ten-year contractual lives, containing vesting terms of three Restricted Shares The following table presents information regarding restricted share activity during the years ended December 31, 2022, 2021, and 2020: Shares Weighted Average Grant Date Fair Value per Share Unvested at January 1, 2022 49,347 $ 17.23 Granted 44,214 17.69 Vested (23,652) 17.39 Forfeited (16,531) 17.24 Unvested at December 31, 2022 53,378 $ 17.54 During the year ended December 31, 2022, we granted 44,214 restricted shares that are subject to forfeiture and vest over periods ranging from one to three years. The total grant date value of the 23,652 restricted shares vested during the year ended December 31, 2022 was $0.4 million. Restricted Units During the years ended December 31, 2022, 2021 and 2020, respectively, there were 431,330, 335,833, and 297,195 LTIP units issued. During the years ended December 31, 2022, 2021 and 2020, 498,298, 271,635, and 433,016, units vested, respectively. There were no restricted units converted to common shares during the years ended December 31, 2022 and 2021. During the year ended December 31, 2020, 223,553 restricted units were converted to common shares. As of December 31, 2022 the remaining 487,001 units vest over a weighted average period of approximately three years. Share-Based Compensation Expense Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income and comprehensive income, is summarized as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Share-based compensation expense components: LTIP expense (1) $ 5,862 $ 4,909 $ 7,331 Performance-based LTI expense (2) 3,170 3,865 3,792 Stock option expense 977 1,435 4,991 Restricted share expense 367 461 832 DSU expense 110 149 48 Total Share-based compensation expense $ 10,486 $ 10,819 $ 16,994 (1) LTIP expense includes the time-based portion of the 2022, 2021, 2020, 2019 and 2018 LTI Plans. (2) Performance-based LTI expense includes the 2017 OPP plan and the performance-based portion of the 2022, 2021, 2020, 2019 and 2018 LTI Plans. As of December 31, 2022, we had a total of $9.3 million of unrecognized compensation expense related to unvested and restricted share-based payment arrangements including unvested stock options, LTIP units, deferred share units, and restricted share awards which were granted under our Omnibus Share Plan as well as OPP awards. This expense is expected to be recognized over a weighted average period of two years.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III - Real Estate and Accumulated Depreciation	URBAN EDGE PROPERTIES AND URBAN EDGE PROPERTIES LP SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (in thousands) Initial cost to company Gross amount at which Description Encumbrances Land Building and Costs Land Building and Total (2) Accumulated depreciation and amortization (1) Date of Date SHOPPING CENTERS AND MALLS: Baltimore (Towson), MD $ — $ 581 $ 3,227 $ 18,412 $ 581 $ 21,639 $ 22,220 $ (9,592) 1968 1968 Bensalem, PA — 2,727 6,698 1,610 2,727 8,308 11,035 (4,832) 1972/ 1999 1972 Bergen Town Center - East, Paramus, NJ — 6,305 6,824 42,881 6,305 49,705 56,010 (13,634) 1957/ 2009 2003/ 2019 Bergen Town Center - West, Paramus, NJ 300,000 22,930 89,358 424,114 34,288 502,115 536,403 (150,516) 1957/ 2009 2003/ 2020 Brick, NJ 48,636 1,391 11,179 15,712 1,382 26,900 28,282 (18,830) 1968 1968 Bronx (Bruckner Boulevard), NY — 66,100 259,503 (7,052) 39,668 278,883 318,551 (42,707) N/A 2007 Bronx (Shops at Bruckner), NY 9,020 — 32,979 11,962 — 44,941 44,941 (3,616) N/A 2017 Bronx (1750-1780 Gun Hill Road), NY 24,188 6,427 11,885 23,839 6,428 35,723 42,151 (14,198) 2009 2005 Brooklyn (Kingswood Center), NY 69,935 15,690 76,766 (2,894) 15,690 73,872 89,562 (6,007) N/A 2020 Brooklyn (Kingswood Crossing), NY — 8,150 64,159 1,648 8,150 65,807 73,957 (5,805) N/A 2020 Broomall, PA — 850 2,171 10,098 643 12,476 13,119 (2,205) 1966 1966 Buffalo (Amherst), NY — 5,743 4,056 13,964 5,107 18,656 23,763 (8,785) 1968 1968 Cambridge (leased through 2033) (3) , MA — — — 97 — 97 97 (31) N/A 2007 Carlstadt (leased through 2050) (3) , NJ — — 16,458 182 — 16,640 16,640 (6,331) N/A 2007 Charleston (leased through 2063) (3) , SC — — 3,634 308 — 3,942 3,942 (1,548) N/A 2006 Cherry Hill (Plaza at Cherry Hill), NJ 29,000 14,602 33,666 (1,314) 12,234 34,720 46,954 (5,933) N/A 2017 Dewitt (leased through 2041) (3) , NY — — 7,116 — — 7,116 7,116 (3,014) N/A 2006 Rockaway, NJ 27,291 559 6,363 4,884 559 11,247 11,806 (7,608) 1964 1964 East Brunswick, NJ 63,000 2,417 17,169 7,555 2,417 24,724 27,141 (20,136) 1957/ 1957/ East Hanover (200 - 240 Route 10 West), NJ 62,453 2,232 18,241 17,030 2,671 34,832 37,503 (22,365) 1962 1962/ East Rutherford, NJ 23,000 — 36,727 1,484 — 38,211 38,211 (11,256) 2007 2007 Freeport (Meadowbrook Commons) (leased through 2040) (3) , NY — — — 927 — 927 927 (123) N/A 2005 Freeport (Freeport Commons), NY 43,100 1,231 4,747 4,628 1,593 9,013 10,606 (7,050) 1981 1981 Garfield, NJ 40,300 45 8,068 46,558 44 54,627 54,671 (23,319) 2009 1998 Glenarden, MD (Woodmore Towne Centre) 117,200 28,397 144,834 1,027 28,397 145,861 174,258 (5,423) N/A 2021 Glenolden, PA — 850 1,820 873 850 2,693 3,543 (2,400) 1975 1975 Hackensack, NJ 66,400 692 10,219 7,716 692 17,935 18,627 (13,019) 1963 1963 Hazlet, NJ — 7,400 9,413 (8,028) 5,211 3,574 8,785 (124) N/A 2007 Initial cost to company Gross amount at which Description Encumbrances Land Building and Costs Land Building and Total (2) Accumulated depreciation and amortization (1) Date of Date Huntington, NY — 21,200 33,667 29,389 15,875 68,381 84,256 (6,267) N/A 2007 Hyde Park (Shops at Riverwood), MA 21,466 10,867 19,441 7 10,867 19,448 30,315 (341) N/A 2022 Inwood, NY — 12,419 19,097 (1,355) 4,777 25,384 30,161 (4,703) N/A 2004 Jersey City (Hudson Commons), NJ 27,482 652 7,495 1,186 652 8,681 9,333 (4,444) 1965 1965 Jersey City (Hudson Mall), NJ 21,380 15,824 37,593 1,728 14,289 40,856 55,145 (8,351) N/A 2017 Kearny, NJ — 309 3,376 19,174 296 22,563 22,859 (8,075) 1938 1959 Lancaster, PA — 3,140 63 2,059 3,140 2,122 5,262 (1,241) 1966 1966 Las Catalinas, Puerto Rico 119,633 15,280 64,370 20,051 11,490 88,211 99,701 (36,429) 1996 2002 Lodi (Washington Street), NJ — 7,606 13,125 (8,806) 3,823 8,102 11,925 (3,448) N/A 2004 Manalapan, NJ — 725 7,189 7,264 1,046 14,132 15,178 (11,007) 1971 1971 Manchester, MO 12,500 4,409 13,756 (6,799) 2,858 8,508 11,366 (999) N/A 2017 Marlton, NJ 37,400 1,611 3,464 14,826 1,385 18,516 19,901 (13,510) 1973 1973 Massapequa, (portion leased through 2069) (3)(4) , NY — 45,153 6,226 34,076 31,195 54,260 85,455 (183) N/A 2020 Middletown, NJ 30,825 283 5,248 2,977 283 8,225 8,508 (7,087) 1963 1963 Millburn, NJ 22,489 15,783 25,837 (773) 15,783 25,064 40,847 (5,150) N/A 2017 Montclair, NJ 7,250 66 419 472 66 891 957 (791) 1972 1972 Montehiedra, Puerto Rico 77,531 9,182 66,751 26,281 6,178 96,036 102,214 (44,211) 1996/ 1997 Morris Plains, NJ — 1,104 6,411 21,447 1,082 27,880 28,962 (9,694) 1961 1985 Mount Kisco, NY 11,760 22,700 26,700 4,780 23,297 30,883 54,180 (10,802) N/A 2007 New Hyde Park (leased through 2029) (3) , NY — — 4 — — 4 4 (4) 1970 1976 Newington, CT — 2,421 1,200 2,617 2,421 3,817 6,238 (1,613) 1965 1965 Norfolk (leased through 2069) (3) , VA — — 3,927 15 — 3,942 3,942 (3,938) N/A 2005 North Bergen (Kennedy Boulevard), NJ — 2,308 636 261 2,308 897 3,205 (741) 1993 1959 North Bergen (Tonnelle Avenue), NJ 98,870 24,978 10,462 69,471 34,473 70,438 104,911 (23,307) 2009 2006 North Plainfield, NJ 24,658 6,577 13,983 795 6,577 14,778 21,355 (5,990) 1955 1989 Paramus (leased through 2033) (3) , NJ — — — 12,569 — 12,569 12,569 (6,764) 1957/ 2003 Queens, NY — 14,537 12,304 4,548 14,537 16,852 31,389 (3,406) N/A 2015 Rochester (Henrietta) (leased through 2056) (3) , NY — — 2,647 1,200 — 3,847 3,847 (3,639) 1971 1971 Rockville, MD — 3,470 20,599 3,336 3,470 23,935 27,405 (11,365) N/A 2005 Revere (Wonderland), MA — 6,323 17,130 1,340 6,323 18,470 24,793 (3,536) N/A 2019 Salem (leased through 2102) (3) , NH — 6,083 — (1,821) 2,994 1,268 4,262 (127) N/A 2006 South Plainfield (leased through 2039) (3) , NJ — — 10,044 1,950 — 11,994 11,994 (4,750) N/A 2007 Springfield (leased through 2025) (3) , PA — — — 80 — 80 80 (80) N/A 2005 Staten Island, NY — 11,446 21,262 5,183 11,446 26,445 37,891 (12,858) N/A 2004 Initial cost to company Gross amount at which Description Encumbrances Land Building and Costs Land Building and Total (2) Accumulated depreciation and amortization (1) Date of Date Totowa, NJ 50,800 120 11,994 5,075 92 17,097 17,189 (15,757) 1957/ 1957 Union (2445 Springfield Avenue), NJ 45,600 19,700 45,090 — 19,700 45,090 64,790 (17,566) N/A 2007 Union (Route 22 and Morris Avenue), NJ — 3,025 7,470 7,240 3,025 14,710 17,735 (7,071) 1962 1962 Walnut Creek (1149 South Main Street), CA — 2,699 19,930 (1,003) 2,699 18,927 21,626 (4,228) N/A 2006 Walnut Creek (Mt. Diablo), CA — 5,909 — 3,062 2,589 6,382 8,971 (51) N/A 2007 Watchung, NJ 25,581 4,178 5,463 3,121 4,441 8,321 12,762 (7,057) 1994 1959 Wheaton (leased through 2060) (3) , MD — — 5,367 — — 5,367 5,367 (2,180) N/A 2006 Wilkes-Barre (461 - 499 Mundy Street), PA — 6,053 26,646 (13,072) 3,133 16,494 19,627 (579) N/A 2007 Woodbridge (Woodbridge Commons), NJ 22,100 1,509 2,675 6,078 1,539 8,723 10,262 (4,341) 1959 1959 Woodbridge (Plaza at Woodbridge), NJ 52,947 21,547 75,017 8,532 21,547 83,549 105,096 (13,971) N/A 2017 Wyomissing (leased through 2065) (3) , PA — — 2,646 1,147 — 3,793 3,793 (2,723) N/A 2005 Yonkers, NY 24,996 63,341 110,635 15,785 65,433 124,328 189,761 (19,970) N/A 2017 INDUSTRIAL: East Hanover, NJ 40,700 5,589 57,485 32,889 2,766 93,197 95,963 (23,461) 1972 1972 / 2021 Lodi (Route 17 North), NJ — 238 9,446 4,488 238 13,934 14,172 (733) 1999 1975 TOTAL UE PROPERTIES $ 1,699,491 $ 595,683 $ 1,741,570 $ 981,091 $ 535,770 $ 2,782,575 $ 3,318,345 $ (788,946) Leasehold Improvements, — — — 8,539 — 8,539 8,539 (2,539) TOTAL $ 1,699,491 $ 595,683 $ 1,741,570 $ 989,630 $ 535,770 $ 2,791,114 $ 3,326,884 $ (791,485) (1) Depreciation of the buildings and improvements are calculated over lives ranging from one to forty years. (2) Adjusted tax basis for federal income tax purposes was $1.9 billion as of December 31, 2022. (3) The Company is a lessee under a ground or building lease. The building will revert to the lessor upon lease expiration. (4) The increase in initial cost to the Company is due to the acquisitions of 40 Carmans Road. URBAN EDGE PROPERTIES AND URBAN EDGE PROPERTIES LP SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Amounts in thousands) The following is a reconciliation of real estate assets and accumulated depreciation: Year Ended December 31, 2022 2021 2020 Real Estate Balance at beginning of period $ 3,205,450 $ 2,946,817 $ 2,748,785 Additions during the period: Land 11,984 33,473 68,536 Buildings & improvements 54,082 200,289 145,800 Construction in progress 101,696 97,401 27,550 3,373,212 3,277,980 2,990,671 Less: Impairments, assets sold, written-off or reclassified as held for sale (46,328) (72,530) (43,854) Balance at end of period $ 3,326,884 $ 3,205,450 $ 2,946,817 Accumulated Depreciation Balance at beginning of period $ 753,947 $ 730,366 $ 671,946 Additions charged to operating expenses 83,866 80,288 81,691 837,813 810,654 753,637 Less: Accumulated depreciation on assets sold, written-off or reclassified as held for sale (46,328) (56,707) (23,271) Balance at end of period $ 791,485 $ 753,947 $ 730,366

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
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 annual financial information and with the instructions of Form 10-K
Consolidation and Noncontrolling Interests	The consolidated financial statements as of and for the years ended December 31, 2022, 2021 and 2020 reflect the consolidation of the Company, the Operating Partnership, wholly-owned subsidiaries and those entities in which we have a controlling financial interest. All intercompany transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates —
Real Estate	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 under way and ends when the project is substantially complete and ready for its intended use. Depreciation is recognized on a straight-line basis over estimated useful lives which range from one
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents — Cash and cash equivalents consist of highly liquid investments with original maturities of three months or less and are carried at cost, which approximates fair value due to their short-term maturities. The majority of our cash and cash equivalents consist of (i) deposits at major commercial banks, including money market accounts, which may at times exceed the Federal Deposit Insurance Corporation limit, (ii) United States Treasury Bills, and (iii) Certificate of Deposits placed through an Account Registry Service (“CDARS”). To date we have not experienced any losses on our invested cash. Restricted Cash — Restricted cash consists of security deposits and cash escrowed under loan agreements for debt service, real estate taxes, property insurance, tenant improvements, leasing commissions, capital expenditures and cash held for potential Internal Revenue Code Section 1031 tax deferred exchange transactions.
Accounts Receivables and Changes in Collectbility Assessment	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 result 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, and receivables arising from the straight-lining of rents, are written-off directly when management deems the collectibility of substantially all future lease payments from a specific lease is not probable, at which point, the Company will begin recognizing revenue from such leases prospectively, based on actual amounts received. This write-off effectively reduces cumulative non-cash rental income recognized from the straight-lining of rents since lease commencement. If the Company subsequently determines that it is probable it will collect substantially all of the lessee’s remaining lease payments under the lease term, the Company will reinstate the receivables balance, including those arising from the straight-lining of rents.
Deferred Leasing Costs	Deferred Leasing Costs — Deferred leasing costs include incremental costs of a lease that would have not been incurred if the lease had not been executed, including broker and sale commissions, and contingent legal fees. Such costs are capitalized and amortized on a straight-line basis over the term of the related leases as depreciation and amortization expense on the consolidated statements of income and comprehensive income. Deferred leasing costs also includes lease incentives that can be used at the discretion of the tenant. Lease incentives are capitalized and amortized over the term of the related leases as a reduction to rental revenue on the consolidated statements of income and comprehensive income.
Deferred Financing Costs	Deferred Financing Costs — Deferred financing costs and debt issuance costs include fees associated with the issuance of our mortgage loans and our revolving credit agreement. Such fees are amortized on a straight-line basis over the terms of the related agreements as a component of interest expense, which approximates the effective interest rate method, in accordance with the terms of the agreement.
Revenue Recognition	Revenue Recognition — We have the following revenue sources and revenue recognition policies: • Rental revenue: Rental revenue comprises revenue from fixed and variable lease payments, as designated within tenant operating leases in accordance with ASC 842 Leases, as described further in our Leases accounting policy in Note 3 to the audited consolidated financial statements in Part II, Item 8 of this Annual Report on Form 10-K. • Rental revenue deemed uncollectible: We evaluate the collectibility of amounts due from tenants and disputed enforceable charges on both a lease-by-lease and a portfolio-level, which result 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. • Other Income: Other income is generated in connection with certain services provided to tenants for which we earn a fee as well as management and development fee income from contractual property management agreements with third parties. This revenue is recognized as the services are transferred in accordance with ASC 606 Revenue from Contracts with Customers
Leases, lessor	Leases — We have approximately 900 operating leases at our properties, which generate rental income from tenants and operating cash flows for the Company. Our tenant leases are dependent on the Company, as lessor, agreeing to provide our tenants with the right to control the use of our real estate assets, as lessees. Our real estate assets are comprised of retail shopping centers, malls and industrial parks. Tenants agree to use and control their agreed upon space for their business purposes. Thus, our tenants obtain substantially all of the economic benefits from the use of our shopping center space and have the right to direct how and for what purpose the real estate space is used throughout the period of use. Given these contractual terms, the Company has determined that all tenant contracts of this nature contain a lease. The Company assesses lease classification for each new and modified lease. All new and modified leases which commenced in the year ended December 31, 2022 have been assessed and classified as operating leases. Contractual rent increases of renewal options are often fixed at the time of the initial lease agreement which may result in tenants being able to exercise their renewal options at amounts that are less than the fair value of the rent at the date of renewal. In addition to fixed base rents, certain rental income derived from our tenant leases is variable and may be dependent on percentage rent or the Consumer Price Index ("CPI"). Variable lease payments from percentage rents are earned by the Company in the event the tenant's gross sales exceed certain amounts. Terms of percentage rent are agreed upon in the tenant's lease and will vary based on the tenant's sales. Variable lease payments dependent on the CPI, will change in accordance with the corresponding increase or decrease in CPI if negotiated and agreed upon in the tenant's lease. Variable lease payments dependent on percentage rent and the CPI were $9.2 million and $9.8 million for the years ended December 31, 2022 and 2021, respectively. Variable lease payments also arise from tenant expense reimbursements, which provide for the recovery of all or a portion of the operating expenses, common area maintenance expenses, real estate taxes, insurance and capital improvements of the respective property and amounted to $103.3 million and $101.3 million for the years ended December 31, 2022 and 2021, respectively. The Company accounts for variable lease payments as rental revenue on the consolidated statements of income and comprehensive income in the period in which the changes in facts and circumstances on which the variable lease payments are based occur. The Company also has twenty properties in its portfolio either completely or partially on land or in a building that are owned by third parties. These properties are leased or subleased to us pursuant to ground leases, building leases or easements, with remaining terms ranging from two have been identified as leases . Our leases often offer renewal options, which we assess against relevant economic factors to determine whether the Company is reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods, for which the Company has determined are reasonably certain of being exercised, are included in the measurement of the corresponding lease liability and ROU asset. For finance leases and operating leases, the discount rate applied to measure each ROU asset and lease liability is based on the incremental borrowing rate of the lease due to the rate implicit in the lease not being readily determinable. The Company initially considers the general economic environment and factors in various financing and asset specific secured borrowings so that the overall incremental borrowing rate is appropriate to the intended use of the lease. Certain expenses derived from these
Leases, lessee	Leases — We have approximately 900 operating leases at our properties, which generate rental income from tenants and operating cash flows for the Company. Our tenant leases are dependent on the Company, as lessor, agreeing to provide our tenants with the right to control the use of our real estate assets, as lessees. Our real estate assets are comprised of retail shopping centers, malls and industrial parks. Tenants agree to use and control their agreed upon space for their business purposes. Thus, our tenants obtain substantially all of the economic benefits from the use of our shopping center space and have the right to direct how and for what purpose the real estate space is used throughout the period of use. Given these contractual terms, the Company has determined that all tenant contracts of this nature contain a lease. The Company assesses lease classification for each new and modified lease. All new and modified leases which commenced in the year ended December 31, 2022 have been assessed and classified as operating leases. Contractual rent increases of renewal options are often fixed at the time of the initial lease agreement which may result in tenants being able to exercise their renewal options at amounts that are less than the fair value of the rent at the date of renewal. In addition to fixed base rents, certain rental income derived from our tenant leases is variable and may be dependent on percentage rent or the Consumer Price Index ("CPI"). Variable lease payments from percentage rents are earned by the Company in the event the tenant's gross sales exceed certain amounts. Terms of percentage rent are agreed upon in the tenant's lease and will vary based on the tenant's sales. Variable lease payments dependent on the CPI, will change in accordance with the corresponding increase or decrease in CPI if negotiated and agreed upon in the tenant's lease. Variable lease payments dependent on percentage rent and the CPI were $9.2 million and $9.8 million for the years ended December 31, 2022 and 2021, respectively. Variable lease payments also arise from tenant expense reimbursements, which provide for the recovery of all or a portion of the operating expenses, common area maintenance expenses, real estate taxes, insurance and capital improvements of the respective property and amounted to $103.3 million and $101.3 million for the years ended December 31, 2022 and 2021, respectively. The Company accounts for variable lease payments as rental revenue on the consolidated statements of income and comprehensive income in the period in which the changes in facts and circumstances on which the variable lease payments are based occur. The Company also has twenty properties in its portfolio either completely or partially on land or in a building that are owned by third parties. These properties are leased or subleased to us pursuant to ground leases, building leases or easements, with remaining terms ranging from two have been identified as leases . Our leases often offer renewal options, which we assess against relevant economic factors to determine whether the Company is reasonably certain of exercising or not exercising the option. Lease payments associated with renewal periods, for which the Company has determined are reasonably certain of being exercised, are included in the measurement of the corresponding lease liability and ROU asset. For finance leases and operating leases, the discount rate applied to measure each ROU asset and lease liability is based on the incremental borrowing rate of the lease due to the rate implicit in the lease not being readily determinable. The Company initially considers the general economic environment and factors in various financing and asset specific secured borrowings so that the overall incremental borrowing rate is appropriate to the intended use of the lease. Certain expenses derived from these
Noncontrolling Interest	Noncontrolling Interests — Noncontrolling interests in consolidated subsidiaries represent the portion of equity that we do not own in those entities that we consolidate. We identify our noncontrolling interests separately within the equity section on the consolidated balance sheets. Noncontrolling interests in the Operating Partnership include OP units and limited partnership interests in the Operating Partnership in the form of long-term incentive plan (“LTIP”) unit awards classified as equity.
Variable Interest Entities	Variable Interest Entities — Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties, or for which the equity owners as a group lack any one of the following characteristics: (i) the power, through voting rights or similar rights, to direct the activities of a legal entity that most significantly impact the entity’s economic performance, (ii) the obligation to absorb the expected losses of the legal entity, or (iii) the right to receive the expected residual returns of the legal entity, qualify as VIEs. VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE has both the power to direct the activities that most significantly impact economic performance of the VIE and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The consolidated financial statements reflect the consolidation of VIEs in which the Company is the primary beneficiary. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include voting rights, involvement in day-to-day capital and operating decisions and the extent of our involvement in the entity. Excluding the Operating Partnership, the Company had two entities that met the criteria of a VIE in which we held variable interests as of December 31, 2022 and 2021. These entities are VIEs primarily because the noncontrolling interests do not have substantive kick-out or participating rights and we control the significant operating decisions and consequently have the power to direct the activities that most significantly impact the economic performance of these entities. As we also have the obligation to absorb the majority of the losses and/or the right to receive a majority of the benefits for these entities, they were consolidated in our financial statements as of December 31, 2022 and 2021. The majority of the operations of these VIEs are funded with cash flows generated by the properties and periodic cash contributions.
Earnings Per Share and Unit	Earnings Per Share and Unit —
Share-Based Compensation	Share-Based Compensation — We grant stock options, LTIP units, OP units, deferred share units, restricted share awards and performance-based units to our officers, trustees and employees. The term of each award is determined by the compensation committee of our Board of Trustees (the “Compensation Committee”), but in no event can such term be longer than ten years from the date of grant. The vesting schedule of each award is determined by the Compensation Committee, in its sole and absolute discretion, at the date of grant of the award. Dividends are paid on certain shares of unvested restricted stock, which makes the restricted stock a participating security. Fair value is determined, depending on the type of award, using either the Black-Scholes option-pricing model or the Monte Carlo method, both of which are intended to estimate the fair value of the awards at the grant date. In using the Black-Scholes option-pricing model, expected volatilities and dividend yields are primarily based on available implied data and peer group companies’ historical data. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant. Compensation expense for restricted share awards is based on the fair value of our common shares at the date of the grant and is recognized ratably over the vesting period. For grants with a graded vesting schedule or a cliff vesting schedule, we have elected to recognize compensation expense on a straight-line basis. The OPP unrecognized compensation expense is recognized on a straight-line basis over the remaining life of the OPP awards issued. Share-based compensation expense is included in general and administrative expenses on the consolidated statements of income and comprehensive income. When the Company issues common shares as compensation, it receives a like number of common units from the Operating Partnership. Accordingly, the Company’s ownership in the Operating Partnership will increase based on the number of common shares awarded under our 2015 Omnibus Share Plan. As a result of the issuance of common units to the Company for share-based compensation, the Operating Partnership accounts for share-based compensation in the same manner as the Company.
Income Taxes	Income Taxes — The Company elected to be taxed as a REIT under sections 856-860 of the Code, commencing with the filing of its 2015 tax return for its tax year ended December 31, 2015. So long as the Company qualifies as a REIT under the Code, the Company will not be subject to U.S. federal income tax on net taxable income that it distributes annually to its shareholders. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates 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, in particular income taxes arising from its operating activities in Puerto Rico, which are included in income tax expense in the consolidated statements of income and comprehensive income. In addition, the Company’s taxable REIT subsidiary (“TRS”) is subject to income tax at regular corporate rates. Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The Company provides a valuation allowance for deferred tax assets for which it does not consider realization of such assets to be more likely than not. The Company applies the FASB’s guidance relating to uncertainty in income taxes recognized in a Company’s financial statements. Under this guidance the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also provides guidance on derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. The Company records interest and penalties relating to unrecognized tax benefits, if any, as income tax expense.
Concentration of Credit Risk	Concentration of Credit Risk —
Derivative Financial Instruments and Hedging	Derivative Financial Instruments and Hedging — At times, the Company may use derivative financial instruments to manage and mitigate exposure to fluctuations in interest rates on our variable rate debt. These derivatives are measured at fair value and are recognized as assets or liabilities on the Company’s consolidated balance sheets, depending on the Company’s rights or obligations under the respective derivative contracts. The accounting for changes in the fair value of a derivative varies based on eligibility and Company elections, including the intended use of the derivative, whether the Company has elected to designate the derivative in a hedging relationship and apply hedge accounting, and whether the hedge relationship has satisfied certain criteria to be deemed an effective hedge. Effectiveness of the hedging relationship is assessed on a quarterly basis by a third party to determine if the relationship still meets the criteria to be considered an effective hedge. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. In a cash flow hedge, hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the earnings effect of the hedged transaction. A derivative instrument designated as a cash flow hedge is adjusted to fair value on the Company’s consolidated balance sheets. The change in fair value, net of the amortization of the purchase price of the instrument, is deemed to be the effective portion of change and is recognized in Other Comprehensive Income (“OCI”) in the Company’s consolidated statements of income and comprehensive income, with the amortization of the purchase price included in interest and debt expense. Cash flows from the derivative are included in the prepaid expenses and other assets, or accounts payable, accrued expenses and other liabilities line item in the statement of cash flows, depending on whether the hedged item is recognized as an asset or a liability. For further information on the Company’s derivative instruments and hedge designations, refer to Note 9 .
Recently Issued Accounting Literature	Recently Issued Accounting Literature In March 2020 and January 2021, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04 Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , and ASU 2021-01 Reference Rate Reform (ASC 848): Scope which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform in contracts and other transactions that reference the London Interbank Offered Rate or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. ASU 2020-04 and ASU 2021-01 are effective for all entities as of March 12, 2020 through December 31, 2022. In December 2022, FASB issued ASU 2022-06 Reference Rate Reform (ASC 848): Deferral of the Sunset Date of Topic 848 , which extended the final sunset date from December 31, 2022 to December 31, 2024. There were no modifications to our existing debt agreements as a result of reference rate reform in the current year, however, we refinanced two loans in 2022 previously indexed to LIBOR, which are now indexed to SOFR and the Prime Rate. We plan to transition all variable rate loans currently indexed to LIBOR to SOFR, based on discussions with our lenders. 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 to not 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 may elect 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 stated that there are multiple ways to account for rent concessions, 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 continue to 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 made the election to account for rent concessions using the receivable approach or variable approach on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. The Company has granted rent deferrals accounted under both the receivable approach by electing the Lease Modification Q&A and as modifications due to term extensions of the leases. The Company has also granted abatements accounted for under both the variable approach and as modifications due to the executed agreements including other rental term modifications, such as term extensions and substantial changes in cash flows.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	12 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Closed Acquisitions	During the years ended December 31, 2022 and December 31, 2021, we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (1) (in thousands) February 24, 2022 40 Carmans Road (2) Massapequa NY 12,000 $ 4,260 June 8, 2022 The Shops at Riverwood Hyde Park MA 78,000 33,343 2022 Total $ 37,603 August 10, 2021 601 Murray Road (3) East Hanover NJ 88,000 $ 18,312 August 19, 2021 151 Ridgedale Avenue (3) East Hanover NJ 187,000 37,759 December 23, 2021 Woodmore Towne Centre Glenarden MD 712,000 198,055 2021 Total $ 254,126 (1) The total purchase price for the properties acquired in the years ended December 31, 2022 and December 31, 2021 include $0.6 million and $5.2 million, respectively, of transaction costs incurred related to the transactions. (2) The outparcel is included with Sunrise Mall in our total property count. The Company has an 82.5% controlling interest in the property with the remaining 17.5% owned by others.
Schedule of Aggregate Purchase Price Allocations	The aggregate purchase price of the above property acquisitions have been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Other assets, net Total Purchase Price (in thousands) 40 Carmans Road $ 1,118 $ 3,142 $ — $ — $ — $ 4,260 The Shops at Riverwood 10,866 19,441 4,024 (988) — 33,343 2022 Total $ 11,984 $ 22,583 $ 4,024 $ (988) $ — $ 37,603 601 Murray Road $ 2,075 $ 14,733 $ 1,722 $ (218) $ — $ 18,312 151 Ridgedale Avenue 2,990 35,509 — (740) — 37,759 Woodmore Towne Centre (2) 28,398 144,834 23,128 (8,035) 9,730 198,055 2021 Total $ 33,463 $ 195,076 $ 24,850 $ (8,993) $ 9,730 $ 254,126 (1) As of December 31, 2022, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2022 were 8.6 years and 16.2 years, respectively and the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2021 were 8.3 years and 13.9 years, respectively. (2) The amount allocated to Other assets, net relates to future reimbursements from the county for development work performed by the previous owner and is included in Prepaid expenses and other assets on our consolidated balance sheets.

IDENTIFIED INTANGIBLE ASSETS _2

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Liabilities	The following table summarizes our identified intangible assets and liabilities: (Amounts in thousands) December 31, 2022 December 31, 2021 In-place leases $ 93,191 $ 96,648 Accumulated amortization (36,196) (33,057) Above-market leases 9,013 10,185 Accumulated amortization (3,396) (3,147) Other intangible assets 1,635 1,635 Accumulated amortization (1,391) (1,157) Identified intangible assets, net of accumulated amortization 62,856 71,107 Below-market leases 134,144 135,654 Accumulated amortization (40,816) (35,029) Identified intangible liabilities, net of accumulated amortization $ 93,328 $ 100,625
Schedule of Estimated Annual Amortization Expense	The following table sets forth the estimated annual amortization (expense) and income related to intangible assets and liabilities for the five succeeding years commencing January 1, 2023: (Amounts in thousands) Below-Market Above-Market In-Place Lease Year Operating Lease Amortization Operating Lease Amortization Amortization 2023 $ 7,764 $ (1,081) $ (9,064) 2024 7,528 (920) (7,801) 2025 7,348 (725) (6,334) 2026 6,971 (606) (5,630) 2027 6,693 (458) (5,101)

MORTGAGES PAYABLE (Tables)

MORTGAGES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Mortgages Payable	The following is a summary of mortgages payable as of December 31, 2022 and December 31, 2021. Interest Rate at December 31, December 31, (Amounts in thousands) Maturity December 31, 2022 2022 2021 First mortgages secured by: Variable rate Hudson Commons (1) 11/15/2024 5.97% $ 27,482 $ 28,034 Greenbrook Commons (1) 11/15/2024 5.97% 25,581 26,097 Gun Hill Commons (1) 12/1/2024 5.97% 24,188 24,680 Plaza at Cherry Hill (2) 6/15/2025 8.00% 29,000 28,244 Plaza at Woodbridge (3) 6/8/2027 5.26% 52,947 54,029 Total variable rate debt 159,198 161,084 Fixed rate Bergen Town Center 4/8/2023 3.56% 300,000 300,000 Shops at Bruckner 5/1/2023 3.90% 9,020 9,698 Hudson Mall 12/1/2023 5.07% 21,380 22,154 Yonkers Gateway Center 4/6/2024 4.16% 24,996 26,774 Brick Commons 12/10/2024 3.87% 48,636 49,554 West End Commons 12/10/2025 3.99% 24,658 25,100 Las Catalinas Mall 2/1/2026 4.43% 119,633 123,977 Town Brook Commons 12/1/2026 3.78% 30,825 31,400 Rockaway River Commons 12/1/2026 3.78% 27,291 27,800 Hanover Commons 12/10/2026 4.03% 62,453 63,000 Tonnelle Commons 4/1/2027 4.18% 98,870 100,000 Manchester Plaza 6/1/2027 4.32% 12,500 12,500 Millburn Gateway Center 6/1/2027 3.97% 22,489 22,944 Totowa Commons 12/1/2027 4.33% 50,800 50,800 Woodbridge Commons 12/1/2027 4.36% 22,100 22,100 Brunswick Commons 12/6/2027 4.38% 63,000 63,000 Rutherford Commons 1/6/2028 4.49% 23,000 23,000 Kingswood Center 2/6/2028 5.07% 69,935 70,815 Hackensack Commons 3/1/2028 4.36% 66,400 66,400 Marlton Commons 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (Vauxhall) 12/10/2028 4.01% 45,600 45,600 The Shops at Riverwood 6/24/2029 4.25% 21,466 — Freeport Commons 12/10/2029 4.07% 43,100 43,100 The Outlets at Montehiedra 6/1/2030 5.00% 77,531 79,381 Montclair (4) 8/15/2030 3.15% 7,250 7,250 Garfield Commons 12/1/2030 4.14% 40,300 40,300 Woodmore Towne Centre 1/6/2032 3.39% 117,200 117,200 Mount Kisco Commons 11/15/2034 6.40% 11,760 12,377 Total fixed rate debt 1,540,293 1,534,324 Total mortgages payable 1,699,491 1,695,408 Unamortized debt issuance costs (7,801) (8,218) Total mortgages payable, net of unamortized debt issuance costs $ 1,691,690 $ 1,687,190 (1) Bears interest at one month LIBOR plus 190 bps. (2) Bears interest at the Prime Rate plus 50 bps with a minimum rate of 4.25%. (3) Bears interest at one month SOFR plus 226 bps. The variable component of the debt is hedged with an interest rate cap agreement to limit SOFR to a maximum of 3%. (4) Bears interest at LIBOR plus 257 bps. The fixed and variable components of the debt are hedged with an interest rate swap agreement, fixing the rate at 3.15%, which expires at the maturity of the loan.
Schedule of Principal Repayments	As of December 31, 2022, the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2023 $ 351,497 2024 166,380 2025 72,683 2026 229,553 2027 316,771 Thereafter 562,607

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Tax Status of Dividends Paid	The Company satisfied its REIT distribution requiremen t by distributing $0.64, $0.60 and $0.68 per common share in 2022, 2021 and 2020, respectively. The distributions comprised a regular quarterly cash dividend of $0.16 and $0.15 per common share declared for each quarter of 2022 and 2021, respectively. During the year ended December 31, 2020, the Company declared a regular cash dividend of $0.22 per common share for the first quarter of 2020 and a special cash dividend of $0.46 per common share in December 2020. The taxability of such dividends for the years ended December 31, 2022, 2021 and 2020 are as follows: Year Ended December 31, 2022 2021 2020 Dividend paid per share (1) $ 0.64 $ 0.60 $ 0.68 Ordinary income 100 % 100 % 100 % Return of capital — % — % — % Capital gains — % — % — % (1) The special cash dividend of $0.46 per common share declared in December 2020, and paid in January 2021, was fully allocable to the 2020 tax year.
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) for the years ended December 31, 2022, 2021 and 2020 consists of the following: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Income tax expense (benefit): Current: U.S. federal income tax $ 11 $ — $ — U.S. state and local income tax 10 (1,228) 4,525 Puerto Rico income tax 78 110 1,293 Total current 99 (1,118) 5,818 Deferred: U.S. federal income tax 1 5 (6) Puerto Rico income tax 2,803 2,252 (44,808) Total deferred 2,804 2,257 (44,814) Total income tax expense (benefit) $ 2,903 $ 1,139 $ (38,996)
Schedule of Provision for Income Taxes Computed Applying Statutory Federal Tax Rate	Provision for income taxes differs from the amounts computed by applying the statutory federal income tax rate to consolidated net income before income taxes as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Federal provision at statutory tax rate (1) $ 10,551 $ 22,880 $ 12,338 REIT income before income taxes not subject to federal tax provision (10,539) (22,875) (12,339) State and local income tax provision, net of federal benefit 10 225 11 Puerto Rico income tax provision 2,881 2,362 (43,515) Change in valuation allowance — (1,453) 4,509 Total income tax expense (benefit) $ 2,903 $ 1,139 $ (38,996) (1) Federal statutory tax rate of 21% for the years ended December 31, 2022, 2021 and 2020.
Schedule of Net Deferred Income Tax Liability	Below is a table summarizing the Company’s deferred tax assets and liabilities as of December 31, 2022 and 2021: Balance at (Amounts in thousands) December 31, 2022 December 31, 2021 Deferred tax assets: Depreciation $ 37,404 $ 40,793 Amortization of deferred financing costs 650 860 Rental revenue deemed uncollectible 525 735 Charitable contribution 7 7 Net operating loss 1,451 1,425 Valuation allowance — (3,061) Total deferred tax assets 40,037 40,759 Deferred tax liabilities: Mortgage liability (3,021) (1,394) Straight line rent (1,009) (961) Amortization of acquired leases (178) (205) Accrued interest expense (1,213) (779) Total deferred tax liabilities (5,421) (3,339) Net deferred tax assets $ 34,616 $ 37,420

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Schedule of Components of Rental Revenue	The components of rental revenue for the years ended December 31, 2022, 2021 and 2020 were as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Rental Revenue Fixed lease revenue $ 290,784 $ 318,585 $ 235,488 Variable lease revenue 105,592 103,882 92,792 Total rental revenue $ 396,376 $ 422,467 $ 328,280
Schedule of Maturity Analysis of Operating Lease Payments to be Received as Lessor	The Company’s operating leases, including those with revenue recognized on a cash basis, are disclosed in the aggregate due to their consistent nature as real estate leases. As of December 31, 2022 , the undiscounted cash flows to be received from lease payments of our operating leases on an annual basis for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2023 $ 275,745 2024 254,064 2025 234,884 2026 214,970 2027 196,381 Thereafter 871,650 Total undiscounted cash flows $ 2,047,694
Schedule of Components of Lease Expense and Supplemental Cash Information Related to Leases	The components of lease expense for the years ended December 31, 2022, 2021 and 2020 were as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Lease expense Operating lease cost (1) $ 9,707 $ 10,162 $ 10,875 Variable lease cost 2,753 2,710 2,792 Total lease expense $ 12,460 $ 12,872 $ 13,667 (1) During the years ended December 31, 2022, 2021, and 2020 the Company recognized sublease income of $18.6 million, $19.1 million and $17.7 million, respectively, included in rental revenue on the consolidated statements of income and comprehensive income in relation to certain ground and building lease arrangements. Operating lease cost includes amortization of below-market ground lease intangibles and straight-line lease expense. Supplemental cash information related to leases for the years ended December 31, 2022 and 2021 was as follows: (Amounts in thousands) Year Ended December 31, Cash paid for amounts included in the measurement of lease liabilities: 2022 2021 Operating cash flows from operating leases $ 9,284 $ 9,584 Operating cash flows from finance lease 121 120 Financing cash flows from finance lease 12 11 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,852 $ 772
Schedule of Supplemental Noncash Information Related to Operating Leases	Supplemental balance sheet information related to leases as of December 31, 2022 and December 31, 2021 was as follows: December 31, 2022 December 31, 2021 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 14.3 years 33.2 years 14.8 years 34.2 years Weighted-average discount rates 4.30 % 4.01 % 3.98 % 4.01 %
Schedule of Supplemental Noncash Information Related to Finance Leases	Supplemental balance sheet information related to leases as of December 31, 2022 and December 31, 2021 was as follows: December 31, 2022 December 31, 2021 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 14.3 years 33.2 years 14.8 years 34.2 years Weighted-average discount rates 4.30 % 4.01 % 3.98 % 4.01 %
Schedule of Maturity Analysis of Operating Lease Payments as Lessee	The undiscounted cash flows to be paid on an annual basis for the next five years and thereafter are presented in the table below. The total amount of lease payments, on an undiscounted basis, are reconciled to the lease liability on the consolidated balance sheet by considering the present value discount. (Amounts in thousands) Operating Finance Year Ending December 31, leases lease 2023 $ 9,321 $ 109 2024 8,594 109 2025 6,692 109 2026 6,460 124 2027 6,201 127 Thereafter 45,607 6,172 Total undiscounted cash flows 82,875 6,750 Present value discount (23,086) (3,734) Discounted cash flows $ 59,789 $ 3,016
Schedule of Maturity Analysis of Finance Lease Payments as Lessee	The undiscounted cash flows to be paid on an annual basis for the next five years and thereafter are presented in the table below. The total amount of lease payments, on an undiscounted basis, are reconciled to the lease liability on the consolidated balance sheet by considering the present value discount. (Amounts in thousands) Operating Finance Year Ending December 31, leases lease 2023 $ 9,321 $ 109 2024 8,594 109 2025 6,692 109 2026 6,460 124 2027 6,201 127 Thereafter 45,607 6,172 Total undiscounted cash flows 82,875 6,750 Present value discount (23,086) (3,734) Discounted cash flows $ 59,789 $ 3,016

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The table below summarizes the recorded amount of assets and liabilities measured at fair value on a recurring basis as of December 31, 2022: As of December 31, 2022 (Amounts in thousands) Level 1 Level 2 Level 3 Total Interest rate cap and swap (1) $ — $ 1,976 $ — $ 1,976 (1) Included in Prepaid expenses and other assets on the consolidated balance sheets.
Schedule of Financial Instrument Carrying Amounts and Fair Values	The table below summarizes the carrying amounts and fair value of our level 2 financial instruments as of December 31, 2022 and December 31, 2021. As of December 31, 2022 As of As of December 31, 2021 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Mortgages payable (1) $ 1,699,491 $ 1,542,869 $ 1,695,408 $ 1,692,674 (1) Carrying amounts exclude unamortized debt issuance costs of $7.8 million and $8.2 million as of December 31, 2022 and December 31, 2021, respectively.
Schedule of Derivative Instruments	The table below summarizes our derivative instruments, which are used to hedge the corresponding variable rate debt, as of December 31, 2022: (Amounts in thousands) Hedged Instrument Fair Value Notional Amount Spread Interest Rate Effective Interest Rate Expiration Plaza at Woodbridge interest rate cap $ 509 $ 52,947 SOFR + 2.26% 6.27% 5.26% 7/1/2023 Montclair interest rate swap $ 1,467 $ 7,250 LIBOR + 2.57% 6.89% 3.15% 8/15/2030

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
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) December 31, 2022 December 31, 2021 Other assets $ 18,386 $ 19,712 Deferred tax asset, net 34,616 37,420 Deferred financing costs, net of accumulated amortization of $7,269 and $5,932, respectively 6,749 2,234 Finance lease right-of-use asset 2,724 2,724 Prepaid expenses: Real estate taxes 12,080 9,982 Insurance 1,391 1,088 Rent, licenses/fees 1,261 951 Total Prepaid expenses and other assets $ 77,207 $ 74,111

ACCOUNTS PAYABLE, ACCRUED EXP_2

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Accounts Payable, Accrued Expenses and Other Liabilities	The following is a summary of the composition of accounts payable, accrued expenses and other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) December 31, 2022 December 31, 2021 Accrued capital expenditures and leasing costs $ 35,732 $ 19,164 Deferred tenant revenue 28,468 28,898 Accrued interest payable 10,789 9,879 Accrued payroll expenses 9,527 9,134 Security deposits 8,048 6,693 Other liabilities and accrued expenses 6,939 8,057 Finance lease liability 3,016 3,004 Total accounts payable, accrued expenses and other liabilities $ 102,519 $ 84,829

INTEREST AND DEBT EXPENSE (Tabl

INTEREST AND DEBT EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Schedule of Interest and Debt Expense	The following table sets forth the details of interest and debt expense: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Interest expense $ 55,557 $ 54,946 $ 68,184 Amortization of deferred financing costs 3,422 2,992 2,831 Total Interest and debt expense $ 58,979 $ 57,938 $ 71,015

EARNINGS PER SHARE AND UNIT (Ta

EARNINGS PER SHARE AND UNIT (Tables)	12 Months Ended
	Dec. 31, 2022
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: Year Ended December 31, (Amounts in thousands, except per share amounts) 2022 2021 2020 Numerator: Net income attributable to common shareholders $ 46,170 $ 102,686 $ 93,589 Less: Earnings allocated to unvested participating securities (23) (47) (62) Net income available for common shareholders - basic $ 46,147 $ 102,639 $ 93,527 Impact of assumed conversions: OP and LTIP units 1,635 3,675 81 Net income available for common shareholders - dilutive $ 47,782 $ 106,314 $ 93,608 Denominator: Weighted average common shares outstanding - basic 117,366 117,029 117,722 Effect of dilutive securities: Restricted share awards 59 55 77 Assumed conversion of OP and LTIP units 4,215 4,363 103 Weighted average common shares outstanding - diluted 121,640 121,447 117,902 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.39 $ 0.88 $ 0.79 Earnings per common share - Diluted $ 0.39 $ 0.88 $ 0.79 Operating Partnership Earnings per Unit The following table sets forth the computation of basic and diluted earnings per unit: Year Ended December 31, (Amounts in thousands, except per unit amounts) 2022 2021 2020 Numerator: Net income attributable to unitholders $ 48,065 $ 106,982 $ 97,749 Less: net income attributable to participating securities (23) (47) (62) Net income available for unitholders $ 48,042 $ 106,935 $ 97,687 Denominator: Weighted average units outstanding - basic 121,374 120,966 121,957 Effect of dilutive securities issued by Urban Edge 59 55 77 Unvested LTIP units 207 1,086 777 Weighted average units outstanding - diluted 121,640 122,107 122,811 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.40 $ 0.88 $ 0.80 Earnings per unit - Diluted $ 0.39 $ 0.88 $ 0.80

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Assumptions Used to Estimate Fair Value of Options Granted	All stock options granted have ten-year contractual lives, containing vesting terms of three
Schedule of Restricted Share Activity	The following table presents information regarding restricted share activity during the years ended December 31, 2022, 2021, and 2020: Shares Weighted Average Grant Date Fair Value per Share Unvested at January 1, 2022 49,347 $ 17.23 Granted 44,214 17.69 Vested (23,652) 17.39 Forfeited (16,531) 17.24 Unvested at December 31, 2022 53,378 $ 17.54
Schedule of Share-based Compensation Expense	Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income and comprehensive income, is summarized as follows: Year Ended December 31, (Amounts in thousands) 2022 2021 2020 Share-based compensation expense components: LTIP expense (1) $ 5,862 $ 4,909 $ 7,331 Performance-based LTI expense (2) 3,170 3,865 3,792 Stock option expense 977 1,435 4,991 Restricted share expense 367 461 832 DSU expense 110 149 48 Total Share-based compensation expense $ 10,486 $ 10,819 $ 16,994 (1) LTIP expense includes the time-based portion of the 2022, 2021, 2020, 2019 and 2018 LTI Plans. (2) Performance-based LTI expense includes the 2017 OPP plan and the performance-based portion of the 2022, 2021, 2020, 2019 and 2018 LTI Plans.

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) ft² in Millions	12 Months Ended
	Dec. 31, 2022 ft² property	Dec. 31, 2021
Real Estate Properties [Line Items]
Square Feet | ft²	17.2
Walnut Creek (Mt. Diablo), CA
Real Estate Properties [Line Items]
Ownership percentage	95%
Massapequa (portion leased through 2069), NY | Massapequa (portion leased through 2069), NY
Real Estate Properties [Line Items]
Ownership percentage		82.50%
Wholly owned properties | Shopping Center
Real Estate Properties [Line Items]
Number of real estate properties	69
Wholly owned properties | Mall
Real Estate Properties [Line Items]
Number of real estate properties	5
Wholly owned properties | Retail Site, Warehouse Park
Real Estate Properties [Line Items]
Number of real estate properties	2
Parent | Vornado Realty L.P. | Operating Partnership
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)	12 Months Ended
	Dec. 31, 2022 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) ft² lease property entity	Dec. 31, 2021 USD ($) entity	Dec. 31, 2020 USD ($)
Property, Plant and Equipment [Line Items]
Variable lease payments based on CPI	$ 9,200,000	$ 9,800,000
Tenant expense reimbursements	$ 103,300,000	$ 101,300,000
Number of VIEs | entity	2	2
Assets	$ 2,977,432,000	$ 2,985,116,000
Liabilities	$ 1,947,326,000	1,937,222,000
Term of share-based compensation awards	10 years
Square Feet | ft²	17,200,000
Revenues	$ 397,938,000	425,082,000	$ 330,095,000
Accumulated deficit	(36,104,000)	(7,091,000)
Operating lease ROU assets	64,161,000	69,361,000
Operating lease liabilities	59,789,000	64,578,000
Finance lease right-of-use asset	2,724,000	2,724,000
Finance lease liability	$ 3,016,000	3,004,000
The Home Depot
Property, Plant and Equipment [Line Items]
Number of real estate properties | property	6
Square Feet | ft²	808,926
Customer Concentration Risk | Sales Revenue, Net | The Home Depot
Property, Plant and Equipment [Line Items]
Revenues	$ 21,400,000
Concentration risk percentage	5.40%
Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
Assets	$ 47,600,000	48,500,000
Liabilities	$ 23,200,000	24,700,000
Ground and Building
Property, Plant and Equipment [Line Items]
Number of properties in operating lease portfolio | property	20
Corporate Offices
Property, Plant and Equipment [Line Items]
Number of properties in operating lease portfolio | property	2
Lessee, operating lease term of contract	1 year
Retail Shopping Centers and Malls
Property, Plant and Equipment [Line Items]
Number of operating leases | lease	900
Revolving Credit Facility | Revolving Credit Agreement
Property, Plant and Equipment [Line Items]
Amounts drawn under credit facility	$ 0	$ 0
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of real estate property	1 year
Minimum | Ground and Building
Property, Plant and Equipment [Line Items]
Lessee, operating lease term of contract	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of real estate property	40 years
Maximum | Ground and Building
Property, Plant and Equipment [Line Items]
Lessee, operating lease term of contract	77 years

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Summary of Acquisition Activity (Details) $ in Thousands						12 Months Ended
	Jun. 08, 2022 USD ($) ft²	Feb. 24, 2022 USD ($) ft²	Dec. 23, 2021 USD ($) ft²	Aug. 19, 2021 USD ($) ft²	Aug. 10, 2021 USD ($) ft²	Dec. 31, 2022 USD ($) ft²	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Square Feet | ft²						17,200,000
Purchase price						$ 37,603	$ 254,126
Transaction costs						$ 600	$ 5,200
601 Murray Road(3)
Business Acquisition [Line Items]
Square Feet | ft²					88,000
Purchase price					$ 18,312
151 Ridgedale Avenue(3)
Business Acquisition [Line Items]
Square Feet | ft²				187,000
Purchase price				$ 37,759
Woodmore Towne Centre
Business Acquisition [Line Items]
Square Feet | ft²			712,000
Purchase price			$ 198,055
40 Carmans Road
Business Acquisition [Line Items]
Square Feet | ft²		12,000
Purchase price		$ 4,260
40 Carmans Road | 40 Carmans Road
Business Acquisition [Line Items]
Noncontrolling interest, ownership percentage		82.50%
Noncontrolling interest percentage		17.50%
The Shops at Riverwood
Business Acquisition [Line Items]
Square Feet | ft²	78,000	78,000
Purchase price	$ 33,343	$ 33,300

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) $ in Thousands			1 Months Ended	12 Months Ended
	Jun. 08, 2022 USD ($) ft²	Feb. 24, 2022 USD ($) ft²	Dec. 31, 2021 USD ($) a	Dec. 31, 2022 USD ($) ft²	Dec. 31, 2022 USD ($) ft² asset	Dec. 31, 2022 USD ($) ft² property	Dec. 31, 2022 USD ($) ft² propertyParcel	Dec. 31, 2021 USD ($) asset	Dec. 31, 2020 USD ($)
Business Acquisition [Line Items]
Number of assets acquired | asset								3
Square Feet | ft²				17,200,000	17,200,000	17,200,000	17,200,000
Business acquisition, consideration paid				$ 37,603				$ 254,126
Recognized identifiable assets acquired and liabilities assumed, net			$ 254,126	37,603	$ 37,603	$ 37,603	$ 37,603	254,126
Gain on sale of real estate				353				18,648	$ 39,775
Proceeds from sale of ground lease				0				$ 2,367	$ 0
East Hanover, NJ and Glenarden, MD
Business Acquisition [Line Items]
Asset acquisition, consideration transferred				$ 37,600
Massapequa (portion leased through 2069), NY | Massapequa (portion leased through 2069), NY | Noncontrolling Interest
Business Acquisition [Line Items]
Noncontrolling interest percentage			17.50%					17.50%
East Hanover, NJ and Glenarden, MD
Business Acquisition [Line Items]
Number of assets acquired | asset					2
Square Feet | ft²				90,000	90,000	90,000	90,000
Woodmore Towne Centre
Business Acquisition [Line Items]
Square Feet | ft²				712,000	712,000	712,000	712,000
Business acquisition, consideration paid				$ 198,100
Area of land property is located on | a			83
Area of land available to be developed | a			22
Woodmore Towne Centre | Mortgages | First Mortgage | Fixed rate
Business Acquisition [Line Items]
Interest rate				3.39%	3.39%	3.39%	3.39%
East Hanover Warehouses | Mortgages | First Mortgage | Fixed rate
Business Acquisition [Line Items]
Interest rate				4.09%	4.09%	4.09%	4.09%
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties sold						3	1
Proceeds from sale of properties				$ 34,900
Proceeds from sale of ground lease				$ 2,400
The Shops at Riverwood
Business Acquisition [Line Items]
Square Feet | ft²	78,000	78,000
Business acquisition, consideration paid	$ 33,343	$ 33,300
Recognized identifiable assets acquired and liabilities assumed, net	$ 33,343

ACQUISITIONS AND DISPOSITIONS_3

ACQUISITIONS AND DISPOSITIONS - Aggregate Purchase Price Allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jun. 08, 2022	Feb. 24, 2022
Business Acquisition [Line Items]
Land	$ 11,984	$ 33,463
Buildings and improvements	22,583	195,076
Identified intangible assets	4,024	24,850
Identified intangible liabilities	(988)	(8,993)
Other assets, net	0	9,730
Total purchase price	$ 37,603	$ 254,126
Remaining weighted average amortization period of acquired intangibles	8 years 7 months 6 days	8 years 3 months 18 days
Remaining weighted average amortization period of acquired intangibles liabilities	16 years 2 months 12 days	13 years 10 months 24 days
601 Murray Road(3)
Business Acquisition [Line Items]
Land		$ 2,075
Buildings and improvements		14,733
Identified intangible assets		1,722
Identified intangible liabilities		(218)
Other assets, net		0
Total purchase price		18,312
151 Ridgedale Avenue(3)
Business Acquisition [Line Items]
Land		2,990
Buildings and improvements		35,509
Identified intangible assets		0
Identified intangible liabilities		(740)
Other assets, net		0
Total purchase price		37,759
Woodmore Towne Centre
Business Acquisition [Line Items]
Land		28,398
Buildings and improvements		144,834
Identified intangible assets		23,128
Identified intangible liabilities		(8,035)
Other assets, net		9,730
Total purchase price		$ 198,055
40 Carmans Road
Business Acquisition [Line Items]
Land				$ 1,118
Buildings and improvements				3,142
Identified intangible assets				0
Identified intangible liabilities				0
Other assets, net				0
Total purchase price				$ 4,260
The Shops at Riverwood
Business Acquisition [Line Items]
Land			$ 10,866
Buildings and improvements			19,441
Identified intangible assets			4,024
Identified intangible liabilities			(988)
Other assets, net			0
Total purchase price			$ 33,343

IDENTIFIED INTANGIBLE ASSETS _3

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Identifiable Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization	$ (40,983)	$ (37,361)
Identified intangible assets, net of accumulated amortization	62,856	71,107
Below-market leases	134,144	135,654
Accumulated amortization	(40,816)	(35,029)
Identified intangible liabilities, net of accumulated amortization	93,328	100,625
In-place leases
Finite-Lived Intangible Assets [Line Items]
In-place leases	93,191	96,648
Accumulated amortization	(36,196)	(33,057)
Above-market leases
Finite-Lived Intangible Assets [Line Items]
Above-market leases	9,013	10,185
Accumulated amortization	(3,396)	(3,147)
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Other intangible assets	1,635	1,635
Accumulated amortization	$ (1,391)	$ (1,157)

IDENTIFIED INTANGIBLE ASSETS _4

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of acquired below-market leases, net of above-market leases	$ 6.7	$ 55.2	$ 10.6
Amortization expense of intangible assets	10.9	$ 8.6	$ 10.2
In-place leases
Finite-Lived Intangible Assets [Line Items]
Termination of lease, accelerated depreciation	0.4
Kmart and Sears
Finite-Lived Intangible Assets [Line Items]
Accelerated amortization of below market lease	$ 45.9

IDENTIFIED INTANGIBLE ASSETS _5

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Schedule of Estimated Annual Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Below-Market Operating Leases
2023	$ 7,764
2024	7,528
2025	7,348
2026	6,971
2027	6,693
Above-market leases
Above Market and In Place Leases
2023	(1,081)
2024	(920)
2025	(725)
2026	(606)
2027	(458)
In-place leases
Above Market and In Place Leases
2023	(9,064)
2024	(7,801)
2025	(6,334)
2026	(5,630)
2027	$ (5,101)

MORTGAGES PAYABLE - Summary of

MORTGAGES PAYABLE - Summary of Mortgages Payable (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Jun. 03, 2022	Jun. 30, 2022	Dec. 31, 2022	Jun. 24, 2022	Jun. 08, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total mortgages payable, net of unamortized debt issuance costs			$ 1,691,690			$ 1,687,190
Mortgages | First Mortgage
Debt Instrument [Line Items]
Total mortgages payable			1,699,491			1,695,408
Unamortized debt issuance costs			(7,801)			(8,218)
Total mortgages payable, net of unamortized debt issuance costs			1,691,690			1,687,190
Mortgages | First Mortgage | Variable rate
Debt Instrument [Line Items]
Total mortgages payable			$ 159,198			161,084
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill
Debt Instrument [Line Items]
Interest rate			8%
Total mortgages payable			$ 29,000			28,244
Debt instrument, interest rate, minimum, precent	4.25%		4.25%
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill | Prime Rate
Debt Instrument [Line Items]
Interest rate spread on variable rate	0.50%		0.50%
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge
Debt Instrument [Line Items]
Interest rate			5.26%		2.26%
Total mortgages payable			$ 52,947			54,029
Derivative, cap interest rate			3%
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate spread on variable rate			2.26%
Mortgages | First Mortgage | Variable rate | Hudson Commons
Debt Instrument [Line Items]
Interest rate			5.97%
Total mortgages payable			$ 27,482			28,034
Mortgages | First Mortgage | Variable rate | Hudson Commons | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate		1.90%	1.90%
Mortgages | First Mortgage | Variable rate | Watchung, NJ
Debt Instrument [Line Items]
Interest rate			5.97%
Total mortgages payable			$ 25,581			26,097
Mortgages | First Mortgage | Variable rate | Watchung, NJ | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate		1.90%	1.90%
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY
Debt Instrument [Line Items]
Interest rate			5.97%
Total mortgages payable			$ 24,188			24,680
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate		1.90%	1.90%
Mortgages | First Mortgage | Variable rate | Montclair, NJ | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate		2.57%
Derivative, fixed interest rate		3.15%
Mortgages | First Mortgage | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable			$ 1,540,293			1,534,324
Mortgages | First Mortgage | Fixed rate | Bergen Town Center
Debt Instrument [Line Items]
Interest rate			3.56%
Total mortgages payable			$ 300,000			300,000
Mortgages | First Mortgage | Fixed rate | Shops at Bruckner
Debt Instrument [Line Items]
Interest rate			3.90%
Total mortgages payable			$ 9,020			9,698
Mortgages | First Mortgage | Fixed rate | Hudson Mall
Debt Instrument [Line Items]
Interest rate			5.07%
Total mortgages payable			$ 21,380			22,154
Mortgages | First Mortgage | Fixed rate | Yonkers Gateway Center
Debt Instrument [Line Items]
Interest rate			4.16%
Total mortgages payable			$ 24,996			26,774
Mortgages | First Mortgage | Fixed rate | Brick, NJ
Debt Instrument [Line Items]
Interest rate			3.87%
Total mortgages payable			$ 48,636			49,554
Mortgages | First Mortgage | Fixed rate | North Plainfield, NJ
Debt Instrument [Line Items]
Interest rate			3.99%
Total mortgages payable			$ 24,658			25,100
Mortgages | First Mortgage | Fixed rate | Las Catalinas
Debt Instrument [Line Items]
Interest rate			4.43%
Total mortgages payable			$ 119,633			123,977
Mortgages | First Mortgage | Fixed rate | Middletown, NJ
Debt Instrument [Line Items]
Interest rate			3.78%
Total mortgages payable			$ 30,825			31,400
Mortgages | First Mortgage | Fixed rate | Rockaway
Debt Instrument [Line Items]
Interest rate			3.78%
Total mortgages payable			$ 27,291			27,800
Mortgages | First Mortgage | Fixed rate | East Hanover (200 - 240 Route 10 West), NJ
Debt Instrument [Line Items]
Interest rate			4.03%
Total mortgages payable			$ 62,453			63,000
Mortgages | First Mortgage | Fixed rate | North Bergen (Tonnelle Avenue), NJ
Debt Instrument [Line Items]
Interest rate			4.18%
Total mortgages payable			$ 98,870			100,000
Mortgages | First Mortgage | Fixed rate | Manchester Plaza
Debt Instrument [Line Items]
Interest rate			4.32%
Total mortgages payable			$ 12,500			12,500
Mortgages | First Mortgage | Fixed rate | Millburn
Debt Instrument [Line Items]
Interest rate			3.97%
Total mortgages payable			$ 22,489			22,944
Mortgages | First Mortgage | Fixed rate | Totowa, NJ
Debt Instrument [Line Items]
Interest rate			4.33%
Total mortgages payable			$ 50,800			50,800
Mortgages | First Mortgage | Fixed rate | Woodbridge Commons
Debt Instrument [Line Items]
Interest rate			4.36%
Total mortgages payable			$ 22,100			22,100
Mortgages | First Mortgage | Fixed rate | East Brunswick, NJ
Debt Instrument [Line Items]
Interest rate			4.38%
Total mortgages payable			$ 63,000			63,000
Mortgages | First Mortgage | Fixed rate | East Rutherford, NJ
Debt Instrument [Line Items]
Interest rate			4.49%
Total mortgages payable			$ 23,000			23,000
Mortgages | First Mortgage | Fixed rate | Brooklyn (Kingswood Center)
Debt Instrument [Line Items]
Interest rate			5.07%
Total mortgages payable			$ 69,935			70,815
Mortgages | First Mortgage | Fixed rate | Hackensack, NJ
Debt Instrument [Line Items]
Interest rate			4.36%
Total mortgages payable			$ 66,400			66,400
Mortgages | First Mortgage | Fixed rate | Marlton, NJ
Debt Instrument [Line Items]
Interest rate			3.86%
Total mortgages payable			$ 37,400			37,400
Mortgages | First Mortgage | Fixed rate | East Hanover Warehouses
Debt Instrument [Line Items]
Interest rate			4.09%
Total mortgages payable			$ 40,700			40,700
Mortgages | First Mortgage | Fixed rate | Union (2445 Springfield Avenue), NJ
Debt Instrument [Line Items]
Interest rate			4.01%
Total mortgages payable			$ 45,600			45,600
Mortgages | First Mortgage | Fixed rate | The Shops at Riverwood
Debt Instrument [Line Items]
Interest rate			4.25%	4.25%
Total mortgages payable			$ 21,466			0
Mortgages | First Mortgage | Fixed rate | Freeport (437 East Sunrise Highway), NY
Debt Instrument [Line Items]
Interest rate			4.07%
Total mortgages payable			$ 43,100			43,100
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate			5%
Total mortgages payable			$ 77,531			79,381
Mortgages | First Mortgage | Fixed rate | Montclair, NJ
Debt Instrument [Line Items]
Interest rate			3.15%
Total mortgages payable			$ 7,250			7,250
Mortgages | First Mortgage | Fixed rate | Garfield, NJ
Debt Instrument [Line Items]
Interest rate			4.14%
Total mortgages payable			$ 40,300			40,300
Mortgages | First Mortgage | Fixed rate | Woodmore Towne Centre
Debt Instrument [Line Items]
Interest rate			3.39%
Total mortgages payable			$ 117,200			117,200
Mortgages | First Mortgage | Fixed rate | Mount Kisco (Target)
Debt Instrument [Line Items]
Interest rate			6.40%
Total mortgages payable			$ 11,760			$ 12,377

MORTGAGES PAYABLE - Schedule of

MORTGAGES PAYABLE - Schedule of Maturities (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 351,497
2024	166,380
2025	72,683
2026	229,553
2027	316,771
Thereafter	$ 562,607

MORTGAGES PAYABLE - Narrative (

MORTGAGES PAYABLE - Narrative (Details)								12 Months Ended
	Aug. 09, 2022 USD ($)	Jun. 24, 2022 USD ($)	Jun. 23, 2022	Jun. 08, 2022 USD ($)	Jun. 03, 2022 USD ($)	Jun. 03, 2020	Mar. 07, 2017 USD ($) extension_option	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Apr. 30, 2020 USD ($)	Jan. 15, 2015 USD ($)
Debt Instrument [Line Items]
Net carrying amount of real estate collateralizing indebtedness								$ 1,500,000,000
Increase in credit facility	$ 200,000,000						$ 100,000,000
Derivative, term of contract			1 year
Deferred financing costs, net of accumulated amortization of $7,269 and $5,932, respectively								6,749,000	$ 2,234,000
Property Lease Guarantee
Debt Instrument [Line Items]
Maximum exposure, undiscounted								$ 12,500,000
Guarantor, obligations, amortization period								3 years 9 months 18 days
Guarantee								$ 8,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 800,000,000						$ 600,000,000
Revolving Credit Facility | Revolving Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 500,000,000
Number of extension options | extension_option							2
Term of each extension option							6 months
Amounts drawn under credit facility								0	$ 0
Gross debt issuance costs								$ 6,700,000
Revolving Credit Facility | Revolving Credit Agreement | Maximum
Debt Instrument [Line Items]
Facility fee					0.30%
Financial covenants, maximum leverage ratio						0.60
Revolving Credit Facility | Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Facility fee					0.15%
Financial covenants, minimum fixed charge coverage ratio						1.5
Line of Credit | Revolving Credit Facility | Revolving Credit Agreement | Maximum | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate					1.50%
Line of Credit | Revolving Credit Facility | Revolving Credit Agreement | Minimum | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate					1.05%
First Mortgage | Mortgages | Las Catalinas | Fixed rate
Debt Instrument [Line Items]
Face amount										$ 129,000,000
Borrowing rate								4.43%
Increase in interest rate								50%
Discounted value								$ 72,500,000
Increase, accrued interest								5,400,000
Deferred financing costs, net of accumulated amortization of $7,269 and $5,932, respectively								$ 1,200,000
First Mortgage | Mortgages | Las Catalinas | Fixed rate | Maximum
Debt Instrument [Line Items]
Borrowing rate								4.43%	4.43%
First Mortgage | Mortgages | Las Catalinas | Fixed rate | Minimum
Debt Instrument [Line Items]
Borrowing rate								3%
First Mortgage | Mortgages | Montehiedra Town Center | Fixed rate | Senior Loan
Debt Instrument [Line Items]
Borrowing rate								5%
First Mortgage | Mortgages | Woodmore Towne Centre | Fixed rate
Debt Instrument [Line Items]
Borrowing rate								3.39%
First Mortgage | Mortgages | The Plaza at Cherry Hill | Variable rate
Debt Instrument [Line Items]
Face amount					$ 29,000,000
Debt instrument, term					3 years
Debt instrument, interest rate, minimum, precent					4.25%			4.25%
Borrowing rate								8%
First Mortgage | Mortgages | The Plaza at Cherry Hill | Variable rate | Prime Rate
Debt Instrument [Line Items]
Interest rate spread on variable rate					0.50%			0.50%
First Mortgage | Mortgages | The Plaza at Woodbridge | Variable rate
Debt Instrument [Line Items]
Face amount				$ 52,900,000
Debt instrument, term				5 years
Derivative, cap interest rate								3%
Borrowing rate				2.26%				5.26%
First Mortgage | Mortgages | The Plaza at Woodbridge | Variable rate | Interest Rate Cap
Debt Instrument [Line Items]
Derivative, cap interest rate				3%
First Mortgage | Mortgages | The Shops at Riverwood | Fixed rate
Debt Instrument [Line Items]
Face amount		$ 21,500,000
Debt instrument, term		7 years
Borrowing rate		4.25%						4.25%

INCOME TAXES - Tax Status of Di

INCOME TAXES - Tax Status of Dividends Paid (Details) - $ / shares	1 Months Ended	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Dividend paid per share(1)									$ 0.64	$ 0.60	$ 0.68
Ordinary income									100%	100%	100%
Return of capital									0%	0%	0%
Capital gains									0%	0%	0%
Distributions to redeemable NCI (in dollars per unit)	$ 0.46	$ 0.16	$ 0.16	$ 0.16	$ 0.16	$ 0.46	$ 0.15	$ 0.22	$ 0.64	$ 0.60	$ 0.68

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Contingency [Line Items]
Deferred tax asset, net	$ 34,616	$ 37,420
Reduction in deferred tax assets	1,200
Valuation allowance	0	3,061
Rental income	50,242	108,954	$ 58,754
Income tax (benefit) expense	2,903	1,139	(38,996)
U.S. state and local income tax	10	(1,228)	$ 4,525
Puerto Rico
Income Tax Contingency [Line Items]
Rental income	9,100	8,500
Income tax (benefit) expense	2,900	2,400
U.S. state and local income tax		(1,200)
Domestic Tax Authority
Income Tax Contingency [Line Items]
Rental income	$ 41,200	$ 100,400
Puerto Rico
Income Tax Contingency [Line Items]
Branch profit tax	10%
Puerto Rico | Minimum
Income Tax Contingency [Line Items]
State and local income taxes	18.50%
Puerto Rico | Maximum
Income Tax Contingency [Line Items]
State and local income taxes	37.50%

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
U.S. federal income tax	$ 11	$ 0	$ 0
U.S. state and local income tax	10	(1,228)	4,525
Total current	99	(1,118)	5,818
Deferred:
U.S. federal income tax	1	5	(6)
Total deferred	2,804	2,257	(44,814)
Total income tax expense (benefit)	2,903	1,139	(38,996)
Puerto Rico
Current:
U.S. state and local income tax		(1,200)
Puerto Rico income tax	78	110	1,293
Deferred:
Puerto Rico income tax	2,803	2,252	$ (44,808)
Total income tax expense (benefit)	$ 2,900	$ 2,400

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes Computed Applying Federal Statutory Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal provision at statutory tax rate	$ 10,551	$ 22,880	$ 12,338
REIT income before income taxes not subject to federal tax provision	(10,539)	(22,875)	(12,339)
State and local income tax provision, net of federal benefit	10	225	11
Puerto Rico income tax provision	2,881	2,362	(43,515)
Change in valuation allowance	0	(1,453)	4,509
Total income tax expense (benefit)	$ 2,903	$ 1,139	$ (38,996)

INCOME TAXES - Net Deferred Inc

INCOME TAXES - Net Deferred Income Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Depreciation	$ 37,404	$ 40,793
Amortization of deferred financing costs	650	860
Rental revenue deemed uncollectible	525	735
Charitable contribution	7	7
Net operating loss	1,451	1,425
Valuation allowance	0	(3,061)
Total deferred tax assets	40,037	40,759
Deferred tax liabilities:
Mortgage liability	(3,021)	(1,394)
Straight line rent	(1,009)	(961)
Amortization of acquired leases	(178)	(205)
Accrued interest expense	(1,213)	(779)
Total deferred tax liabilities	5,421	3,339
Net deferred tax assets	$ 34,616	$ 37,420

LEASES - Additional Information

LEASES - Additional Information (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) ft² property lease	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Operating Leased Assets [Line Items]
Area of leased real estate property (in sq ft) | ft²	17,200
Lease liabilities	$ (6,641)	$ (6,227)	$ (6,680)
Operating lease ROU assets	64,161	69,361
Operating lease liabilities	$ 59,789	64,578
Massapequa (portion leased through 2069), NY
Operating Leased Assets [Line Items]
Operating lease ROU assets		5,700
Operating lease liabilities		$ 700
Retail Shopping Centers and Malls
Operating Leased Assets [Line Items]
Number of operating leases | lease	900
Under 10,000 sq ft
Operating Leased Assets [Line Items]
Area of leased real estate property (in sq ft) | ft²	10
Lessor, operating lease term of contract	5 years
10,000 sq ft or more
Operating Leased Assets [Line Items]
Area of leased real estate property (in sq ft) | ft²	10
10,000 sq ft or more | Minimum
Operating Leased Assets [Line Items]
Lessor, operating lease term of contract	10 years
10,000 sq ft or more | Maximum
Operating Leased Assets [Line Items]
Lessor, operating lease term of contract	25 years
Ground and Building
Operating Leased Assets [Line Items]
Number of properties in operating lease portfolio | property	20
Increase (decrease) in operating lease, right-of-use asset	$ 1,100
Lease liabilities	$ 1,100
Ground and Building | Minimum
Operating Leased Assets [Line Items]
Lessee, operating lease term of contract	2 years
Ground and Building | Maximum
Operating Leased Assets [Line Items]
Lessee, operating lease term of contract	77 years
Corporate Offices
Operating Leased Assets [Line Items]
Number of properties in operating lease portfolio | property	2
Lessee, operating lease term of contract	1 year

LEASES - Components of Rental R

LEASES - Components of Rental Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Fixed lease revenue	$ 290,784	$ 318,585	$ 235,488
Variable lease revenue	105,592	$ 103,882	92,792
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]		Revenue from Contract with Customer, Excluding Assessed Tax
Total rental revenue	$ 396,376	$ 422,467	$ 328,280

LEASES - Maturity Analysis of O

LEASES - Maturity Analysis of Operating Lease Payments to be Received as Lessor (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 275,745
2024	254,064
2025	234,884
2026	214,970
2027	196,381
Thereafter	871,650
Total undiscounted cash flows	$ 2,047,694

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 9,707	$ 10,162	$ 10,875
Variable lease cost	2,753	2,710	2,792
Total lease expense	12,460	12,872	13,667
Sublease income	$ 18,600	$ 19,100	$ 17,700

LEASES - Supplemental Noncash I

LEASES - Supplemental Noncash Information Related Operating and Finance Leases (Details)	Dec. 31, 2022	Dec. 31, 2021
Operating leases
Weighted-average remaining lease term	14 years 3 months 18 days	14 years 9 months 18 days
Weighted-average discount rates	4.30%	3.98%
Finance lease
Weighted-average remaining lease term	33 years 2 months 12 days	34 years 2 months 12 days
Weighted-average discount rates	4.01%	4.01%

LEASES - Supplemental Cash Info

LEASES - Supplemental Cash Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating cash flows from operating leases	$ 9,284	$ 9,584
Operating cash flows from finance lease	121	120
Financing cash flows from finance lease	12	11
Operating leases	$ 1,852	$ 772

LEASES - Maturity Analysis of_2

LEASES - Maturity Analysis of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Operating leases
2023	$ 9,321
2024	8,594
2025	6,692
2026	6,460
2027	6,201
Thereafter	45,607
Total undiscounted cash flows	82,875
Present value discount	(23,086)
Operating lease liabilities	59,789	$ 64,578
Finance lease
2023	109
2024	109
2025	109
2026	124
2027	127
Thereafter	6,172
Total undiscounted cash flows	6,750
Present value discount	(3,734)
Discounted cash flows	$ 3,016	$ 3,004

FAIR VALUE MEASUREMENTS - Recur

FAIR VALUE MEASUREMENTS - Recurring and Nonrecurring (Details) - Interest Rate Cap - Fair Value, Measurements, Recurring $ in Thousands	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 1,976
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	1,976
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	$ 0

FAIR VALUE MEASUREMENTS - Balan

FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 85,518	$ 164,478	$ 384,572	$ 432,954
Carrying Amount | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	1,699,491	1,695,408
Unamortized debt issuance costs	(7,800)	(8,200)
Fair Value | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	$ 1,542,869	$ 1,692,674

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) entity	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on real estate	$ 0	$ 468	$ 3,055
Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on real estate		500	$ 3,100
Two Retail Properties | 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 | entity	2
Westfield, NJ | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on real estate	$ 400
Vallejo, CA | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on real estate	100
Level 3 | Real Estate | Fair Value, Measurements, Nonrecurring | Two Retail Properties | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value	$ 7,900
Level 3 | Real Estate | Fair Value, Measurements, Nonrecurring | Lodi, NJ | Disposal Group, Held-for-sale, Not Discontinued Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value		$ 7,200

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) project	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Number of real estate projects | project	25
Total real estate inventory costs	$ 216,000,000
Estimated cost to complete development and redevelopment projects	159,700,000
Insurance coverage, aggregate limit	50,000,000
Accrued environmental remediation costs	$ 1,600,000	$ 1,700,000
Environmental Loss Contingency, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag	consolidated balance sheets

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	$ 18,386	$ 19,712
Deferred tax asset, net	$ 34,616	$ 37,420
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets	Prepaid expenses and other assets
Finance lease right-of-use asset	$ 2,724	$ 2,724
Deferred financing costs, net of accumulated amortization of $7,269 and $5,932, respectively	6,749	2,234
Prepaid expenses:
Real estate taxes	12,080	9,982
Insurance	1,391	1,088
Rent, licenses/fees	1,261	951
Prepaid expenses and other assets	77,207	74,111
Accumulated amortization, deferred financing costs	$ 7,269	$ 5,932

ACCOUNTS PAYABLE, ACCRUED EXP_3

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Dividend payable	$ 0	$ 0	$ 55,905
Deferred tenant revenue	28,468	28,898
Accrued capital expenditures and leasing costs	$ 35,732	$ 19,164
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Total accounts payable, accrued expenses and other liabilities	Total accounts payable, accrued expenses and other liabilities
Finance lease liability	$ 3,016	$ 3,004
Accrued interest payable	10,789	9,879
Security deposits	8,048	6,693
Accrued payroll expenses	9,527	9,134
Other liabilities and accrued expenses	6,939	8,057
Total accounts payable, accrued expenses and other liabilities	$ 102,519	$ 84,829

INTEREST AND DEBT EXPENSE (Deta

INTEREST AND DEBT EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Interest expense	$ 55,557	$ 54,946	$ 68,184
Amortization of deferred financing costs	3,422	2,992	2,831
Total Interest and debt expense	$ 58,979	$ 57,938	$ 71,015

EQUITY AND NONCONTROLLING INT_2

EQUITY AND NONCONTROLLING INTEREST (Details) - USD ($)	1 Months Ended	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share)		$ 0.01							$ 0.01
Stock repurchase program, authorized amount								$ 200,000,000
Repurchase of common stock (in shares)									0		5,900,000
Weighted average cost per share (in dollars per share)											$ 9.22
Repurchase of common shares											$ 54,141,000
Distributions to redeemable NCI (in dollars per unit)	$ 0.46	$ 0.16	$ 0.16	$ 0.16	$ 0.16	$ 0.46	$ 0.15	$ 0.22	$ 0.64	$ 0.60	$ 0.68
Conversion rate to common shares									1
Units redeemed for common shares (in shares)									250,000	100,000	1,355,836
LTIP Units
Noncontrolling Interest [Line Items]
Number of equity awards issued (in shares)									431,330	335,833	297,195
Award vesting period									2 years
DRIP
Noncontrolling Interest [Line Items]
Number of equity awards issued (in shares)									5,512	4,442	3,445
Operating Partnership | Operating Partnership Units
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage									4%
Massapequa (portion leased through 2069), NY | Noncontrolling Interest | Massapequa (portion leased through 2069), NY
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage						17.50%				17.50%
Walnut Creek (Mt. Diablo), CA | Noncontrolling Interest
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage									5%
Vornado Realty L.P. | Parent | Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage									96.10%

EARNINGS PER SHARE AND UNIT - A

EARNINGS PER SHARE AND UNIT - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Options outstanding (in shares)	3,930,762
Restricted share awards
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock options using treasure stock method and restricted stock awards (in shares)	59,459	54,988	77,289
Unvested restricted shares outstanding (in shares)	53,378

EARNINGS PER SHARE AND UNIT - C

EARNINGS PER SHARE AND UNIT - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income attributable to common shareholders	$ 46,170	$ 102,686	$ 93,589
Less: Earnings allocated to unvested participating securities	(23)	(47)	(62)
Net income available for common shareholders - basic	46,147	102,639	93,527
OP and LTIP units	1,635	3,675	81
Net income available for common shareholders - dilutive	$ 47,782	$ 106,314	$ 93,608
Denominator:
Weighted average common shares outstanding - basic (in shares)	117,366	117,029	117,722
Effect of dilutive securities:
Assumed conversion of OP and LTIP units (in shares)	4,215	4,363	103
Weighted average common shares outstanding - diluted (in shares)	121,640	121,447	117,902
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.39	$ 0.88	$ 0.79
Earnings per common share - Diluted (in dollars per share)	$ 0.39	$ 0.88	$ 0.79
Urban Edge Properties LP
Numerator:
Net income attributable to common shareholders	$ 48,065	$ 106,982	$ 97,749
Less: Earnings allocated to unvested participating securities	(23)	(47)	(62)
Net income available for common shareholders - basic	$ 48,042	$ 106,935	$ 97,687
Denominator:
Weighted average common shares outstanding - basic (in shares)	121,374	120,966	121,957
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	59	55	77
Assumed conversion of OP and LTIP units (in shares)	207	1,086	777
Weighted average common shares outstanding - diluted (in shares)	121,640	122,107	122,811
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.40	$ 0.88	$ 0.80
Earnings per common share - Diluted (in dollars per share)	$ 0.39	$ 0.88	$ 0.80
Restricted share awards
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	59	55	77

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details)

12 Months Ended

Nov. 22, 2021 $ / shares shares

Jul. 01, 2021 $ / shares shares

May 05, 2021 $ / shares shares

Feb. 10, 2021 USD ($) company shares

May 06, 2020 $ / shares shares

Feb. 20, 2020 USD ($) company shares

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2021 USD ($) shares

Dec. 31, 2020 USD ($) shares

Apr. 04, 2019 USD ($)

Feb. 22, 2018 USD ($)

Jan. 07, 2015 shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized share-based compensation expense for nonvested awards

$ 9,300,000

Period for recognition of share-based compensation expense for nonvested awards

2 years

Term of share-based compensation awards

10 years

Grant date fair value of vested awards

$ 400,000

Granted (in shares) | shares

0

LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of equity awards issued (in shares) | shares

431,330

335,833

297,195

Award vesting period

2 years

Number of awards vested (in shares) | shares

498,298

271,635

433,016

Number of unvested awards (in shares) | shares

487,001

Weighted average remaining contractual period of nonvested awards

3 years

Conversion of units | shares

223,553

LTIP Units | Trustees

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of awards granted (in shares) | shares

10,208

12,254

39,756

87,117

Weighted average grant date fair value of options granted (in dollars per share) | $ / shares

$ 14.17

$ 15.02

$ 15.09

$ 8.03

Stock Options | Minimum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

3 years

Stock Options | Maximum

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

5 years

Restricted Stock

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of awards granted (in shares) | shares

44,214

Weighted average grant date fair value of options granted (in dollars per share) | $ / shares

$ 17.69

Number of awards vested (in shares) | shares

23,652

Number of unvested awards (in shares) | shares

53,378

49,347

DSUs | Trustees

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of awards granted (in shares) | shares

6,476

12,121

Weighted average grant date fair value of options granted (in dollars per share) | $ / shares

$ 15.44

$ 8.25

Omnibus Share Plan 2015

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares authorized (in shares) | shares

15,000,000

2017 OPP | OPP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value of plan

$ 4,100,000

Share-based compensation expense

900,000

2018 LTI Plan | OPP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value of plan

3,600,000

Share-based compensation expense

$ 2,100,000

2018 LTI Plan | Performance-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.80

2018 LTI Plan | Time-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.20

2019 LTIP Plan | OPP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

$ 3,500,000

2019 LTIP Plan | Performance-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.6666

2019 LTIP Plan | Time-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.3333

2015 OPP Plan | OPP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based compensation expense

200,000

Outperformance Plans 2015 and 2017 and Long Term Incentive Plan 2018 | OPP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Unrecognized share-based compensation expense for nonvested awards

100,000

2018 Inducement Equity Plan | LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value of plan

$ 7,200,000

Number of awards granted (in shares) | shares

352,890

2018 Inducement Equity Plan | Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value of plan

$ 9,300,000

Number of awards granted (in shares) | shares

2,000,000

2020 Long-term Incentive Plan | LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

OPP award threshold, TSR multi-year duration

3 years

Grant date fair value of plan

$ 8,800,000

2020 Long-term Incentive Plan | Performance-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

0.6666

Grant date fair value of plan

$ 5,900,000

Equity award earned percentage based on absolute TSR component equal to 18%

40%

Equity award percentage of absolute component of TSR equal to 18%

18%

Equity award earned percentage based on absolute TSR component equal to 27%

100%

Equity award earned percentage based on relative TSR component of 35 percentile of peer group

40%

Equity award percentage of absolute component of TSR equal to 27%

27%

Equity award earned percentage based on absolute TSR component equal to 36%

165%

Equity award percentage of absolute component of TSR equal to 36%

36%

Number of REIT peer groups | company

11

Equity award percentage of relative component TSR equal to 35 percentile of peer group

3,500%

Equity award earned percentage based on relative TSR component of 55 percentile of peer group

100%

Equity award percentage of relative component TSR equal to 55 percentile of peer group

5,500%

Equity award earned percentage based on relative TSR component of 75 percentile of peer group

165%

Equity award percentage of relative component TSR equal to 75 percentile of peer group

7,500%

Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued

$ 1,100,000

1,300,000

1,100,000

Number of awards granted (in shares) | shares

630,774

2020 Long-term Incentive Plan | Time-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.3333

Grant date fair value of plan

$ 2,900,000

Share-based compensation expense

600,000

700,000

$ 1,100,000

Award vesting period

3 years

Number of awards granted (in shares) | shares

169,004

2020 Long-term Incentive Plan | Time-Based Shares | Chief Executive Officer

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

4 years

2021 Long-term Incentive Plan | LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant date fair value of plan

$ 7,800,000

2021 Long-term Incentive Plan | Performance-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

0.50

Grant date fair value of plan

$ 3,900,000

Equity award earned percentage based on absolute TSR component equal to 18%

40%

Equity award percentage of absolute component of TSR equal to 18%

18%

Equity award earned percentage based on absolute TSR component equal to 27%

100%

Equity award earned percentage based on relative TSR component of 35 percentile of peer group

40%

Equity award percentage of absolute component of TSR equal to 27%

27%

Equity award earned percentage based on absolute TSR component equal to 36%

165%

Equity award percentage of absolute component of TSR equal to 36%

36%

Number of REIT peer groups | company

14

Equity award percentage of relative component TSR equal to 35 percentile of peer group

3,500%

Equity award earned percentage based on relative TSR component of 55 percentile of peer group

100%

Equity award percentage of relative component TSR equal to 55 percentile of peer group

5,500%

Equity award earned percentage based on relative TSR component of 75 percentile of peer group

165%

Equity award percentage of relative component TSR equal to 75 percentile of peer group

7,500%

Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued

900,000

1,000,000

Number of awards granted (in shares) | shares

398,977

2021 Long-term Incentive Plan | Time-Based Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Weighted percentage of equity awards

$ 0.50

Grant date fair value of plan

$ 3,900,000

Share-based compensation expense

$ 1,300,000

$ 1,000,000

Number of awards granted (in shares) | shares

273,615

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options Activity (Details)	12 Months Ended
	Dec. 31, 2022 shares
Shares Under Options
Granted (in shares)	0
Outstanding at December 31 (in shares)	3,930,762

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Unvested at January 1 (in shares) | shares	49,347
Granted (in shares) | shares	44,214
Vested (in shares) | shares	(23,652)
Forfeited (in shares) | shares	(16,531)
Unvested at December 31 (in shares) | shares	53,378
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested at January 1 (in dollars per share) | $ / shares	$ 17.23
Granted (in dollars per share) | $ / shares	17.69
Vested (in dollars per share) | $ / shares	17.39
Forfeited (in dollars per share) | $ / shares	17.24
Unvested at December 31 (in dollars per share) | $ / shares	$ 17.54

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - General and Administrative Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 10,486	$ 10,819	$ 16,994
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	367	461	832
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	977	1,435	4,991
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	5,862	4,909	7,331
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	3,170	3,865	3,792
DSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 110	$ 149	$ 48

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Real Estate Property (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Initial cost to company
Encumbrances	$ 1,699,491
Land	595,683
Building and improvements	1,741,570
Costs capitalized subsequent to acquisition	989,630
Gross amount at which carried at close of period
Land	535,770
Building and improvements	2,791,114
Total	3,326,884	$ 3,205,450	$ 2,946,817	$ 2,748,785
Accumulated depreciation and amortization	(791,485)	$ (753,947)	$ (730,366)	$ (671,946)
Aggregate cost for federal income tax purposes	1,900,000
Real Estate
Initial cost to company
Encumbrances	1,699,491
Land	595,683
Building and improvements	1,741,570
Costs capitalized subsequent to acquisition	981,091
Gross amount at which carried at close of period
Land	535,770
Building and improvements	2,782,575
Total	3,318,345
Real Estate | Bethlehem, PA
Gross amount at which carried at close of period
Accumulated depreciation and amortization	(788,946)
Real Estate | Shopping Centers and Malls | Baltimore (Towson), MD
Initial cost to company
Encumbrances	0
Land	581
Building and improvements	3,227
Costs capitalized subsequent to acquisition	18,412
Gross amount at which carried at close of period
Land	581
Building and improvements	21,639
Total	22,220
Accumulated depreciation and amortization	(9,592)
Real Estate | Shopping Centers and Malls | Bensalem, PA
Initial cost to company
Encumbrances	0
Land	2,727
Building and improvements	6,698
Costs capitalized subsequent to acquisition	1,610
Gross amount at which carried at close of period
Land	2,727
Building and improvements	8,308
Total	11,035
Accumulated depreciation and amortization	(4,832)
Real Estate | Shopping Centers and Malls | Bergen Town Center - East, Paramus, NJ
Initial cost to company
Encumbrances	0
Land	6,305
Building and improvements	6,824
Costs capitalized subsequent to acquisition	42,881
Gross amount at which carried at close of period
Land	6,305
Building and improvements	49,705
Total	56,010
Accumulated depreciation and amortization	(13,634)
Real Estate | Shopping Centers and Malls | Bergen Town Center - West, Paramus, NJ
Initial cost to company
Encumbrances	300,000
Land	22,930
Building and improvements	89,358
Costs capitalized subsequent to acquisition	424,114
Gross amount at which carried at close of period
Land	34,288
Building and improvements	502,115
Total	536,403
Accumulated depreciation and amortization	(150,516)
Real Estate | Shopping Centers and Malls | Brick, NJ
Initial cost to company
Encumbrances	48,636
Land	1,391
Building and improvements	11,179
Costs capitalized subsequent to acquisition	15,712
Gross amount at which carried at close of period
Land	1,382
Building and improvements	26,900
Total	28,282
Accumulated depreciation and amortization	(18,830)
Real Estate | Shopping Centers and Malls | Bronx (Shops at Bruckner), NY
Initial cost to company
Encumbrances	0
Land	66,100
Building and improvements	259,503
Costs capitalized subsequent to acquisition	(7,052)
Gross amount at which carried at close of period
Land	39,668
Building and improvements	278,883
Total	318,551
Accumulated depreciation and amortization	(42,707)
Real Estate | Shopping Centers and Malls | Bronx (Shops at Bruckner), NY
Initial cost to company
Encumbrances	9,020
Land	0
Building and improvements	32,979
Costs capitalized subsequent to acquisition	11,962
Gross amount at which carried at close of period
Land	0
Building and improvements	44,941
Total	44,941
Accumulated depreciation and amortization	(3,616)
Real Estate | Shopping Centers and Malls | Bronx (1750-1780 Gun Hill Road), NY
Initial cost to company
Encumbrances	24,188
Land	6,427
Building and improvements	11,885
Costs capitalized subsequent to acquisition	23,839
Gross amount at which carried at close of period
Land	6,428
Building and improvements	35,723
Total	42,151
Accumulated depreciation and amortization	(14,198)
Real Estate | Shopping Centers and Malls | Broomall, PA
Initial cost to company
Encumbrances	0
Land	850
Building and improvements	2,171
Costs capitalized subsequent to acquisition	10,098
Gross amount at which carried at close of period
Land	643
Building and improvements	12,476
Total	13,119
Accumulated depreciation and amortization	(2,205)
Real Estate | Shopping Centers and Malls | Buffalo (Amherst), NY
Initial cost to company
Encumbrances	0
Land	5,743
Building and improvements	4,056
Costs capitalized subsequent to acquisition	13,964
Gross amount at which carried at close of period
Land	5,107
Building and improvements	18,656
Total	23,763
Accumulated depreciation and amortization	(8,785)
Real Estate | Shopping Centers and Malls | Cambridge (leased through 2033, MA
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	97
Gross amount at which carried at close of period
Land	0
Building and improvements	97
Total	97
Accumulated depreciation and amortization	(31)
Real Estate | Shopping Centers and Malls | Carlstadt (leased through 2050), NJ
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	16,458
Costs capitalized subsequent to acquisition	182
Gross amount at which carried at close of period
Land	0
Building and improvements	16,640
Total	16,640
Accumulated depreciation and amortization	(6,331)
Real Estate | Shopping Centers and Malls | Charleston (leased through 2063), SC
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	3,634
Costs capitalized subsequent to acquisition	308
Gross amount at which carried at close of period
Land	0
Building and improvements	3,942
Total	3,942
Accumulated depreciation and amortization	(1,548)
Real Estate | Shopping Centers and Malls | Cherry Hill (Plaza at Cherry Hill), NJ
Initial cost to company
Encumbrances	29,000
Land	14,602
Building and improvements	33,666
Costs capitalized subsequent to acquisition	(1,314)
Gross amount at which carried at close of period
Land	12,234
Building and improvements	34,720
Total	46,954
Accumulated depreciation and amortization	(5,933)
Real Estate | Shopping Centers and Malls | Dewitt (leased through 2041), NY
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	7,116
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	0
Building and improvements	7,116
Total	7,116
Accumulated depreciation and amortization	(3,014)
Real Estate | Shopping Centers and Malls | Rockaway, NJ
Initial cost to company
Encumbrances	27,291
Land	559
Building and improvements	6,363
Costs capitalized subsequent to acquisition	4,884
Gross amount at which carried at close of period
Land	559
Building and improvements	11,247
Total	11,806
Accumulated depreciation and amortization	(7,608)
Real Estate | Shopping Centers and Malls | East Brunswick, NJ
Initial cost to company
Encumbrances	63,000
Land	2,417
Building and improvements	17,169
Costs capitalized subsequent to acquisition	7,555
Gross amount at which carried at close of period
Land	2,417
Building and improvements	24,724
Total	27,141
Accumulated depreciation and amortization	(20,136)
Real Estate | Shopping Centers and Malls | East Hanover (200 - 240 Route 10 West), NJ
Initial cost to company
Encumbrances	62,453
Land	2,232
Building and improvements	18,241
Costs capitalized subsequent to acquisition	17,030
Gross amount at which carried at close of period
Land	2,671
Building and improvements	34,832
Total	37,503
Accumulated depreciation and amortization	(22,365)
Real Estate | Shopping Centers and Malls | East Rutherford, NJ
Initial cost to company
Encumbrances	23,000
Land	0
Building and improvements	36,727
Costs capitalized subsequent to acquisition	1,484
Gross amount at which carried at close of period
Land	0
Building and improvements	38,211
Total	38,211
Accumulated depreciation and amortization	(11,256)
Real Estate | Shopping Centers and Malls | Freeport (240 West Sunrise Highway) (leased through 2040), NY
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	927
Gross amount at which carried at close of period
Land	0
Building and improvements	927
Total	927
Accumulated depreciation and amortization	(123)
Real Estate | Shopping Centers and Malls | Freeport (Freeport Commons), NY
Initial cost to company
Encumbrances	43,100
Land	1,231
Building and improvements	4,747
Costs capitalized subsequent to acquisition	4,628
Gross amount at which carried at close of period
Land	1,593
Building and improvements	9,013
Total	10,606
Accumulated depreciation and amortization	(7,050)
Real Estate | Shopping Centers and Malls | Garfield, NJ
Initial cost to company
Encumbrances	40,300
Land	45
Building and improvements	8,068
Costs capitalized subsequent to acquisition	46,558
Gross amount at which carried at close of period
Land	44
Building and improvements	54,627
Total	54,671
Accumulated depreciation and amortization	(23,319)
Real Estate | Shopping Centers and Malls | Glenarden, MD
Initial cost to company
Encumbrances	117,200
Land	28,397
Building and improvements	144,834
Costs capitalized subsequent to acquisition	1,027
Gross amount at which carried at close of period
Land	28,397
Building and improvements	145,861
Total	174,258
Accumulated depreciation and amortization	(5,423)
Real Estate | Shopping Centers and Malls | Glenolden, PA
Initial cost to company
Encumbrances	0
Land	850
Building and improvements	1,820
Costs capitalized subsequent to acquisition	873
Gross amount at which carried at close of period
Land	850
Building and improvements	2,693
Total	3,543
Accumulated depreciation and amortization	(2,400)
Real Estate | Shopping Centers and Malls | Hackensack, NJ
Initial cost to company
Encumbrances	66,400
Land	692
Building and improvements	10,219
Costs capitalized subsequent to acquisition	7,716
Gross amount at which carried at close of period
Land	692
Building and improvements	17,935
Total	18,627
Accumulated depreciation and amortization	(13,019)
Real Estate | Shopping Centers and Malls | Hazlet, NJ
Initial cost to company
Encumbrances	0
Land	7,400
Building and improvements	9,413
Costs capitalized subsequent to acquisition	(8,028)
Gross amount at which carried at close of period
Land	5,211
Building and improvements	3,574
Total	8,785
Accumulated depreciation and amortization	(124)
Real Estate | Shopping Centers and Malls | Huntington, NY
Initial cost to company
Encumbrances	0
Land	21,200
Building and improvements	33,667
Costs capitalized subsequent to acquisition	29,389
Gross amount at which carried at close of period
Land	15,875
Building and improvements	68,381
Total	84,256
Accumulated depreciation and amortization	(6,267)
Real Estate | Shopping Centers and Malls | Inwood, NY
Initial cost to company
Encumbrances	0
Land	12,419
Building and improvements	19,097
Costs capitalized subsequent to acquisition	(1,355)
Gross amount at which carried at close of period
Land	4,777
Building and improvements	25,384
Total	30,161
Accumulated depreciation and amortization	(4,703)
Real Estate | Shopping Centers and Malls | Jersey City (Hudson Commons), NJ
Initial cost to company
Encumbrances	27,482
Land	652
Building and improvements	7,495
Costs capitalized subsequent to acquisition	1,186
Gross amount at which carried at close of period
Land	652
Building and improvements	8,681
Total	9,333
Accumulated depreciation and amortization	(4,444)
Real Estate | Shopping Centers and Malls | Jersey City (Hudson Mall), NJ
Initial cost to company
Encumbrances	21,380
Land	15,824
Building and improvements	37,593
Costs capitalized subsequent to acquisition	1,728
Gross amount at which carried at close of period
Land	14,289
Building and improvements	40,856
Total	55,145
Accumulated depreciation and amortization	(8,351)
Real Estate | Shopping Centers and Malls | Kearny, NJ
Initial cost to company
Encumbrances	0
Land	309
Building and improvements	3,376
Costs capitalized subsequent to acquisition	19,174
Gross amount at which carried at close of period
Land	296
Building and improvements	22,563
Total	22,859
Accumulated depreciation and amortization	(8,075)
Real Estate | Shopping Centers and Malls | Lancaster, PA
Initial cost to company
Encumbrances	0
Land	3,140
Building and improvements	63
Costs capitalized subsequent to acquisition	2,059
Gross amount at which carried at close of period
Land	3,140
Building and improvements	2,122
Total	5,262
Accumulated depreciation and amortization	(1,241)
Real Estate | Shopping Centers and Malls | Las Catalinas, Puerto Rico
Initial cost to company
Encumbrances	119,633
Land	15,280
Building and improvements	64,370
Costs capitalized subsequent to acquisition	20,051
Gross amount at which carried at close of period
Land	11,490
Building and improvements	88,211
Total	99,701
Accumulated depreciation and amortization	(36,429)
Real Estate | Shopping Centers and Malls | Lodi (Route 17 North), NJ
Initial cost to company
Encumbrances	0
Land	238
Building and improvements	9,446
Costs capitalized subsequent to acquisition	4,488
Gross amount at which carried at close of period
Land	238
Building and improvements	13,934
Total	14,172
Accumulated depreciation and amortization	(733)
Real Estate | Shopping Centers and Malls | Lodi (Washington Street), NJ
Initial cost to company
Encumbrances	0
Land	7,606
Building and improvements	13,125
Costs capitalized subsequent to acquisition	(8,806)
Gross amount at which carried at close of period
Land	3,823
Building and improvements	8,102
Total	11,925
Accumulated depreciation and amortization	(3,448)
Real Estate | Shopping Centers and Malls | Manalapan, NJ
Initial cost to company
Encumbrances	0
Land	725
Building and improvements	7,189
Costs capitalized subsequent to acquisition	7,264
Gross amount at which carried at close of period
Land	1,046
Building and improvements	14,132
Total	15,178
Accumulated depreciation and amortization	(11,007)
Real Estate | Shopping Centers and Malls | Manchester, MO
Initial cost to company
Encumbrances	12,500
Land	4,409
Building and improvements	13,756
Costs capitalized subsequent to acquisition	(6,799)
Gross amount at which carried at close of period
Land	2,858
Building and improvements	8,508
Total	11,366
Accumulated depreciation and amortization	(999)
Real Estate | Shopping Centers and Malls | Marlton, NJ
Initial cost to company
Encumbrances	37,400
Land	1,611
Building and improvements	3,464
Costs capitalized subsequent to acquisition	14,826
Gross amount at which carried at close of period
Land	1,385
Building and improvements	18,516
Total	19,901
Accumulated depreciation and amortization	(13,510)
Real Estate | Shopping Centers and Malls | Massapequa (portion leased through 2069), NY
Initial cost to company
Encumbrances	0
Land	45,153
Building and improvements	6,226
Costs capitalized subsequent to acquisition	34,076
Gross amount at which carried at close of period
Land	31,195
Building and improvements	54,260
Total	85,455
Accumulated depreciation and amortization	(183)
Real Estate | Shopping Centers and Malls | Middletown, NJ
Initial cost to company
Encumbrances	30,825
Land	283
Building and improvements	5,248
Costs capitalized subsequent to acquisition	2,977
Gross amount at which carried at close of period
Land	283
Building and improvements	8,225
Total	8,508
Accumulated depreciation and amortization	(7,087)
Real Estate | Shopping Centers and Malls | Millburn, NJ
Initial cost to company
Encumbrances	22,489
Land	15,783
Building and improvements	25,837
Costs capitalized subsequent to acquisition	(773)
Gross amount at which carried at close of period
Land	15,783
Building and improvements	25,064
Total	40,847
Accumulated depreciation and amortization	(5,150)
Real Estate | Shopping Centers and Malls | Montclair, NJ
Initial cost to company
Encumbrances	7,250
Land	66
Building and improvements	419
Costs capitalized subsequent to acquisition	472
Gross amount at which carried at close of period
Land	66
Building and improvements	891
Total	957
Accumulated depreciation and amortization	(791)
Real Estate | Shopping Centers and Malls | Montehiedra, Puerto Rico
Initial cost to company
Encumbrances	77,531
Land	9,182
Building and improvements	66,751
Costs capitalized subsequent to acquisition	26,281
Gross amount at which carried at close of period
Land	6,178
Building and improvements	96,036
Total	102,214
Accumulated depreciation and amortization	(44,211)
Real Estate | Shopping Centers and Malls | Morris Plains, NJ
Initial cost to company
Encumbrances	0
Land	1,104
Building and improvements	6,411
Costs capitalized subsequent to acquisition	21,447
Gross amount at which carried at close of period
Land	1,082
Building and improvements	27,880
Total	28,962
Accumulated depreciation and amortization	(9,694)
Real Estate | Shopping Centers and Malls | Mount Kisco, NY
Initial cost to company
Encumbrances	11,760
Land	22,700
Building and improvements	26,700
Costs capitalized subsequent to acquisition	4,780
Gross amount at which carried at close of period
Land	23,297
Building and improvements	30,883
Total	54,180
Accumulated depreciation and amortization	(10,802)
Real Estate | Shopping Centers and Malls | New Hyde Park (leased through 2029), NY
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	4
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	0
Building and improvements	4
Total	4
Accumulated depreciation and amortization	(4)
Real Estate | Shopping Centers and Malls | Newington, CT
Initial cost to company
Encumbrances	0
Land	2,421
Building and improvements	1,200
Costs capitalized subsequent to acquisition	2,617
Gross amount at which carried at close of period
Land	2,421
Building and improvements	3,817
Total	6,238
Accumulated depreciation and amortization	(1,613)
Real Estate | Shopping Centers and Malls | Norfolk (leased through 2020), VA
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	3,927
Costs capitalized subsequent to acquisition	15
Gross amount at which carried at close of period
Land	0
Building and improvements	3,942
Total	3,942
Accumulated depreciation and amortization	(3,938)
Real Estate | Shopping Centers and Malls | North Bergen (Kennedy Boulevard), NJ
Initial cost to company
Encumbrances	0
Land	2,308
Building and improvements	636
Costs capitalized subsequent to acquisition	261
Gross amount at which carried at close of period
Land	2,308
Building and improvements	897
Total	3,205
Accumulated depreciation and amortization	(741)
Real Estate | Shopping Centers and Malls | North Bergen (Tonnelle Avenue), NJ
Initial cost to company
Encumbrances	98,870
Land	24,978
Building and improvements	10,462
Costs capitalized subsequent to acquisition	69,471
Gross amount at which carried at close of period
Land	34,473
Building and improvements	70,438
Total	104,911
Accumulated depreciation and amortization	(23,307)
Real Estate | Shopping Centers and Malls | North Plainfield, NJ
Initial cost to company
Encumbrances	24,658
Land	6,577
Building and improvements	13,983
Costs capitalized subsequent to acquisition	795
Gross amount at which carried at close of period
Land	6,577
Building and improvements	14,778
Total	21,355
Accumulated depreciation and amortization	(5,990)
Real Estate | Shopping Centers and Malls | Paramus (leased through 2033), NJ
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	12,569
Gross amount at which carried at close of period
Land	0
Building and improvements	12,569
Total	12,569
Accumulated depreciation and amortization	(6,764)
Real Estate | Shopping Centers and Malls | Queens, NY
Initial cost to company
Encumbrances	0
Land	14,537
Building and improvements	12,304
Costs capitalized subsequent to acquisition	4,548
Gross amount at which carried at close of period
Land	14,537
Building and improvements	16,852
Total	31,389
Accumulated depreciation and amortization	(3,406)
Real Estate | Shopping Centers and Malls | Rochester (Henrietta) (leased through 2026), NY
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	2,647
Costs capitalized subsequent to acquisition	1,200
Gross amount at which carried at close of period
Land	0
Building and improvements	3,847
Total	3,847
Accumulated depreciation and amortization	(3,639)
Real Estate | Shopping Centers and Malls | Rockville, MD
Initial cost to company
Encumbrances	0
Land	3,470
Building and improvements	20,599
Costs capitalized subsequent to acquisition	3,336
Gross amount at which carried at close of period
Land	3,470
Building and improvements	23,935
Total	27,405
Accumulated depreciation and amortization	(11,365)
Real Estate | Shopping Centers and Malls | Revere (Wonderland), MA
Initial cost to company
Encumbrances	0
Land	6,323
Building and improvements	17,130
Costs capitalized subsequent to acquisition	1,340
Gross amount at which carried at close of period
Land	6,323
Building and improvements	18,470
Total	24,793
Accumulated depreciation and amortization	(3,536)
Real Estate | Shopping Centers and Malls | Salem (leased through 2061), NH
Initial cost to company
Encumbrances	0
Land	6,083
Building and improvements	0
Costs capitalized subsequent to acquisition	(1,821)
Gross amount at which carried at close of period
Land	2,994
Building and improvements	1,268
Total	4,262
Accumulated depreciation and amortization	(127)
Real Estate | Shopping Centers and Malls | South Plainfield (leased through 2039)(3), NJ
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	10,044
Costs capitalized subsequent to acquisition	1,950
Gross amount at which carried at close of period
Land	0
Building and improvements	11,994
Total	11,994
Accumulated depreciation and amortization	(4,750)
Real Estate | Shopping Centers and Malls | Springfield (leased through 2025), PA
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	80
Gross amount at which carried at close of period
Land	0
Building and improvements	80
Total	80
Accumulated depreciation and amortization	(80)
Real Estate | Shopping Centers and Malls | Staten Island, NY
Initial cost to company
Encumbrances	0
Land	11,446
Building and improvements	21,262
Costs capitalized subsequent to acquisition	5,183
Gross amount at which carried at close of period
Land	11,446
Building and improvements	26,445
Total	37,891
Accumulated depreciation and amortization	(12,858)
Real Estate | Shopping Centers and Malls | Totowa, NJ
Initial cost to company
Encumbrances	50,800
Land	120
Building and improvements	11,994
Costs capitalized subsequent to acquisition	5,075
Gross amount at which carried at close of period
Land	92
Building and improvements	17,097
Total	17,189
Accumulated depreciation and amortization	(15,757)
Real Estate | Shopping Centers and Malls | Union (2445 Springfield Avenue), NJ
Initial cost to company
Encumbrances	45,600
Land	19,700
Building and improvements	45,090
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	19,700
Building and improvements	45,090
Total	64,790
Accumulated depreciation and amortization	(17,566)
Real Estate | Shopping Centers and Malls | Union (Route 22 and Morris Avenue), NJ
Initial cost to company
Encumbrances	0
Land	3,025
Building and improvements	7,470
Costs capitalized subsequent to acquisition	7,240
Gross amount at which carried at close of period
Land	3,025
Building and improvements	14,710
Total	17,735
Accumulated depreciation and amortization	(7,071)
Real Estate | Shopping Centers and Malls | Walnut Creek (1149 South Main Street), CA
Initial cost to company
Encumbrances	0
Land	2,699
Building and improvements	19,930
Costs capitalized subsequent to acquisition	(1,003)
Gross amount at which carried at close of period
Land	2,699
Building and improvements	18,927
Total	21,626
Accumulated depreciation and amortization	(4,228)
Real Estate | Shopping Centers and Malls | Walnut Creek (Mt. Diablo), CA
Initial cost to company
Encumbrances	0
Land	5,909
Building and improvements	0
Costs capitalized subsequent to acquisition	3,062
Gross amount at which carried at close of period
Land	2,589
Building and improvements	6,382
Total	8,971
Accumulated depreciation and amortization	(51)
Real Estate | Shopping Centers and Malls | Watchung, NJ
Initial cost to company
Encumbrances	25,581
Land	4,178
Building and improvements	5,463
Costs capitalized subsequent to acquisition	3,121
Gross amount at which carried at close of period
Land	4,441
Building and improvements	8,321
Total	12,762
Accumulated depreciation and amortization	(7,057)
Real Estate | Shopping Centers and Malls | Wheaton (leased through 2060)(3), MD
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	5,367
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	0
Building and improvements	5,367
Total	5,367
Accumulated depreciation and amortization	(2,180)
Real Estate | Shopping Centers and Malls | Wilkes-Barre (461 - 499 Mundy Street), PA
Initial cost to company
Encumbrances	0
Land	6,053
Building and improvements	26,646
Costs capitalized subsequent to acquisition	(13,072)
Gross amount at which carried at close of period
Land	3,133
Building and improvements	16,494
Total	19,627
Accumulated depreciation and amortization	(579)
Real Estate | Shopping Centers and Malls | Woodbridge (Woodbridge Commons), NJ
Initial cost to company
Encumbrances	22,100
Land	1,509
Building and improvements	2,675
Costs capitalized subsequent to acquisition	6,078
Gross amount at which carried at close of period
Land	1,539
Building and improvements	8,723
Total	10,262
Accumulated depreciation and amortization	(4,341)
Real Estate | Shopping Centers and Malls | Woodbridge (Plaza at Woodbridge), NJ
Initial cost to company
Encumbrances	52,947
Land	21,547
Building and improvements	75,017
Costs capitalized subsequent to acquisition	8,532
Gross amount at which carried at close of period
Land	21,547
Building and improvements	83,549
Total	105,096
Accumulated depreciation and amortization	(13,971)
Real Estate | Shopping Centers and Malls | Wyomissing (leased through 2025), PA
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	2,646
Costs capitalized subsequent to acquisition	1,147
Gross amount at which carried at close of period
Land	0
Building and improvements	3,793
Total	3,793
Accumulated depreciation and amortization	(2,723)
Real Estate | Shopping Centers and Malls | Yonkers, NY
Initial cost to company
Encumbrances	24,996
Land	63,341
Building and improvements	110,635
Costs capitalized subsequent to acquisition	15,785
Gross amount at which carried at close of period
Land	65,433
Building and improvements	124,328
Total	189,761
Accumulated depreciation and amortization	(19,970)
Real Estate | Shopping Centers and Malls | Kingswood Crossing
Initial cost to company
Encumbrances	0
Land	8,150
Building and improvements	64,159
Costs capitalized subsequent to acquisition	1,648
Gross amount at which carried at close of period
Land	8,150
Building and improvements	65,807
Total	73,957
Accumulated depreciation and amortization	(5,805)
Real Estate | Shopping Centers and Malls | Brooklyn (Kingswood Center)
Initial cost to company
Encumbrances	69,935
Land	15,690
Building and improvements	76,766
Costs capitalized subsequent to acquisition	(2,894)
Gross amount at which carried at close of period
Land	15,690
Building and improvements	73,872
Total	89,562
Accumulated depreciation and amortization	(6,007)
Real Estate | Warehouses | East Hanover, NJ
Initial cost to company
Encumbrances	40,700
Land	5,589
Building and improvements	57,485
Costs capitalized subsequent to acquisition	32,889
Gross amount at which carried at close of period
Land	2,766
Building and improvements	93,197
Total	95,963
Accumulated depreciation and amortization	(23,461)
Leasehold Improvements, Equipment and Other
Initial cost to company
Encumbrances	0
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	8,539
Gross amount at which carried at close of period
Land	0
Building and improvements	8,539
Total	8,539
Accumulated depreciation and amortization	$ (2,539)
Buildings & improvements
Gross amount at which carried at close of period
Life used for depreciation	40 years

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate
Balance at beginning of period	$ 3,205,450	$ 2,946,817	$ 2,748,785
Real estate before impairments and assets written-off	3,373,212	3,277,980	2,990,671
Less: Impairments, assets sold, written-off or reclassified as held for sale	(46,328)	(72,530)	(43,854)
Balance at end of period	3,326,884	3,205,450	2,946,817
Accumulated Depreciation
Balance at beginning of period	791,485	753,947	730,366
Additions charged to operating expenses	83,866	80,288	81,691
Accumulated depreciation before depreciation of assets written-off	837,813	810,654	753,637
Less: Accumulated depreciation on assets sold, written-off or reclassified as held for sale	(46,328)	(56,707)	(23,271)
Balance at end of period	753,947	730,366	671,946
Land
Real Estate
Additions during the period:	11,984	33,473	68,536
Buildings & improvements
Real Estate
Additions during the period:	54,082	200,289	145,800
Construction in progress
Real Estate
Additions during the period:	$ 101,696	$ 97,401	$ 27,550