Urban Edge Properties 10-K 17 Feb 21 2020 FY Annual report Financial data

COVER PAGE

COVER PAGE - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 29, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
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			$ 1.4
Entity Common Stock, Shares Outstanding		117,019,013
Entity Central Index Key	0001611547
Amendment Flag	false
Document Fiscal Year Focus	2020
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

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Real estate, at cost:
Land	$ 568,662	$ 515,621
Buildings and improvements	2,326,450	2,197,076
Construction in progress	44,689	28,522
Furniture, fixtures and equipment	7,016	7,566
Total	2,946,817	2,748,785
Accumulated depreciation and amortization	(730,366)	(671,946)
Real estate, net	2,216,451	2,076,839
Operating lease right-of-use assets	80,997	81,768
Cash and cash equivalents	384,572	432,954
Restricted cash	34,681	52,182
Tenant and other receivables	15,673	21,565
Receivables arising from the straight-lining of rents	62,106	73,878
Identified intangible assets, net of accumulated amortization of $37,009 and $30,942, respectively	56,184	48,121
Deferred leasing costs, net of accumulated amortization of $16,419 and $16,560, respectively	18,585	21,474
Prepaid expenses and other assets	70,311	37,577
Total assets	2,939,560	2,846,358
Liabilities:
Mortgages payable, net	1,587,532	1,546,195
Operating lease liabilities	74,972	79,913
Accounts payable, accrued expenses and other liabilities	132,980	76,644
Identified intangible liabilities, net of accumulated amortization of $71,375 and $62,610, respectively	148,183	128,830
Total liabilities	1,943,667	1,831,582
Commitments and contingencies
Shareholders’ equity:
Common shares: $0.01 par value; 500,000,000 shares authorized and 117,014,317 and 121,370,125 shares issued and outstanding, respectively	1,169	1,213
Additional paid-in capital	989,863	1,019,149
Accumulated deficit	(39,467)	(52,546)
Noncontrolling interests:
Operating partnership	38,456	46,536
Partners’ capital:
Consolidated subsidiaries	5,872	424
Total equity	995,893	1,014,776
Total liabilities and equity	2,939,560	2,846,358
Urban Edge Properties LP
Real estate, at cost:
Land	568,662	515,621
Buildings and improvements	2,326,450	2,197,076
Construction in progress	44,689	28,522
Furniture, fixtures and equipment	7,016	7,566
Total	2,946,817	2,748,785
Accumulated depreciation and amortization	(730,366)	(671,946)
Real estate, net	2,216,451	2,076,839
Operating lease right-of-use assets	80,997	81,768
Cash and cash equivalents	384,572	432,954
Restricted cash	34,681	52,182
Tenant and other receivables	15,673	21,565
Receivables arising from the straight-lining of rents	62,106	73,878
Identified intangible assets, net of accumulated amortization of $37,009 and $30,942, respectively	56,184	48,121
Deferred leasing costs, net of accumulated amortization of $16,419 and $16,560, respectively	18,585	21,474
Prepaid expenses and other assets	70,311	37,577
Total assets	2,939,560	2,846,358
Liabilities:
Mortgages payable, net	1,587,532	1,546,195
Operating lease liabilities	74,972	79,913
Accounts payable, accrued expenses and other liabilities	132,980	76,644
Identified intangible liabilities, net of accumulated amortization of $71,375 and $62,610, respectively	148,183	128,830
Total liabilities	1,943,667	1,831,582
Commitments and contingencies
Shareholders’ equity:
Accumulated deficit	(42,313)	(56,166)
Partners’ capital:
General partner: 117,014,317 and 121,370,125 units outstanding, respectively	991,032	1,020,362
Limited partners: 4,729,010 and 5,833,318 units outstanding, respectively	41,302	50,156
Total partners’ capital	990,021	1,014,352
Consolidated subsidiaries	5,872	424
Total equity	995,893	1,014,776
Total liabilities and equity	$ 2,939,560	$ 2,846,358

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accumulated amortization, identified intangible assets	$ 37,009	$ 30,942
Accumulated amortization, deferred leasing costs	16,419	16,560
Accumulated amortization, identified intangible liabilities	$ 71,375	62,610
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)	117,014,317
Urban Edge Properties LP
Accumulated amortization, identified intangible assets	$ 37,009	30,942
Accumulated amortization, deferred leasing costs	16,419	16,560
Accumulated amortization, identified intangible liabilities	$ 71,375	$ 62,610
Common stock, shares, outstanding (in shares)	117,014,317	121,370,125
Limited partners, units outstanding (in units)	4,729,010	5,833,318

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUE
Rental revenue		$ 328,280	$ 384,405	$ 411,298
Total revenue		330,095	387,649	414,160
EXPENSES
Depreciation and amortization		96,029	94,116	99,422
Real estate taxes		60,049	60,179	63,655
Property operating		56,126	64,062	78,360
General and administrative		48,682	38,220	34,984
Casualty and impairment loss, net	[1]	3,055	12,738	4,426
Lease expense		13,667	14,466	11,448
Total expenses		277,608	283,781	292,295
Gain on sale of real estate		39,775	68,632	52,625
Gain on sale of lease		0	1,849	0
Interest income		2,599	9,774	8,336
Interest and debt expense		(71,015)	(66,639)	(64,868)
Gain (loss) on extinguishment of debt		34,908	0	2,524
Income before income taxes		58,754	117,484	120,482
Income tax benefit (expense)		38,996	(1,287)	(3,519)
Net income		97,750	116,197	116,963
Less net income attributable to noncontrolling interests in:
Operating partnership		(4,160)	(6,699)	(11,768)
Consolidated subsidiaries		(1)	25	(45)
Net income (loss) attributable to common shareholders		$ 93,589	$ 109,523	$ 105,150
Earnings per common share - Basic (in dollars per share)		$ 0.79	$ 0.91	$ 0.92
Earnings per common share - Diluted (in dollars per share)		$ 0.79	$ 0.91	$ 0.92
Weighted average shares outstanding - Basic (in shares)		117,722	119,751	113,863
Weighted average shares outstanding - Diluted (in shares)		117,902	119,896	114,051
Management and development fees
REVENUE
Revenues from contract with customer		$ 1,283	$ 1,900	$ 1,469
Other income
REVENUE
Revenues from contract with customer		532	1,344	1,393
Urban Edge Properties LP
REVENUE
Rental revenue		328,280	384,405	411,298
Total revenue		330,095	387,649	414,160
EXPENSES
Depreciation and amortization		96,029	94,116	99,422
Real estate taxes		60,049	60,179	63,655
Property operating		56,126	64,062	78,360
General and administrative		48,682	38,220	34,984
Casualty and impairment loss, net	[1]	3,055	12,738	4,426
Lease expense		13,667	14,466	11,448
Total expenses		277,608	283,781	292,295
Gain on sale of real estate		39,775	68,632	52,625
Gain on sale of lease		0	1,849	0
Interest income		2,599	9,774	8,336
Interest and debt expense		(71,015)	(66,639)	(64,868)
Gain (loss) on extinguishment of debt		34,908	0	2,524
Income before income taxes		58,754	117,484	120,482
Income tax benefit (expense)		38,996	(1,287)	(3,519)
Net income		97,750	116,197	116,963
Less net income attributable to noncontrolling interests in:
Consolidated subsidiaries		(1)	25	(45)
Net income (loss) attributable to common shareholders		$ 97,749	$ 116,222	$ 116,918
Earnings per common share - Basic (in dollars per share)		$ 0.80	$ 0.92	$ 0.92
Earnings per common share - Diluted (in dollars per share)		$ 0.80	$ 0.92	$ 0.92
Weighted average shares outstanding - Basic (in shares)		121,957	126,333	126,198
Weighted average shares outstanding - Diluted (in shares)		122,811	126,478	126,386
Urban Edge Properties LP | Management and development fees
REVENUE
Revenues from contract with customer		$ 1,283	$ 1,900	$ 1,469
Urban Edge Properties LP | Other income
REVENUE
Revenues from contract with customer		$ 532	$ 1,344	$ 1,393
[1]	Refer to Note 2 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K.

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($)	Total	Urban Edge Properties LP	Urban Edge Properties LPAccumulated Earnings (Deficit)	Urban Edge Properties LPConsolidated Subsidiaries	Urban Edge Properties LPGeneral Partner	Urban Edge Properties LPLimited Partners		Common Shares	Additional Paid-In Capital	Accumulated Earnings (Deficit)	Operating Partnership	Consolidated Subsidiaries
Beginning balance (in shares) at Dec. 31, 2017					113,827,529	12,812,954		113,827,529
Beginning balance at Dec. 31, 2017	$ 990,541,000	$ 990,541,000	$ (62,898,000)	$ 404,000	$ 947,540,000	$ 105,495,000	[1]	$ 1,138,000	$ 946,402,000	$ (57,621,000)	$ 100,218,000	$ 404,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	105,150,000	116,918,000	116,918,000							105,150,000
Net income attributable to noncontrolling interests	11,813,000	45,000		45,000							11,768,000	45,000
Common units issued as a result of common shares issued by Urban Edge (in shares)					106,116
Common units issued as a result of common shares issued by Urban Edge		477,000	(172,000)		$ 649,000
Limited partnership units issued, net		0
Limited partnership units issued, net (in shares)						352,789
Units redeemed for common shares/OP units (in shares)					429,110	(429,110)		429,110
Units redeemed for common shares/OP units	3,504,000	3,504,000			$ 3,504,000			$ 4,000	3,500,000		0
Reallocation of noncontrolling interests	(3,504,000)	(3,504,000)			1,263,000	$ (4,767,000)	[1]		1,263,000		(4,767,000)
Common shares issued (in shares)								106,116
Common shares issued	477,000							$ 2,000	647,000	(172,000)
Dividends to common shareholders	(100,244,000)									(100,244,000)
Distributions to redeemable NCI	(11,116,000)										(11,116,000)
Distributions to Partners		(111,360,000)	(111,360,000)
Share-based compensation expense	9,741,000	9,741,000	30,000		$ 4,992,000	$ 4,719,000	[1]		4,992,000	30,000	4,719,000
Share-based awards retained for taxes (in shares)					(17,190)			(17,190)
Share-based awards retained for taxes	(385,000)	(385,000)			$ (385,000)			$ (1,000)	(384,000)
Ending balance (in shares) at Dec. 31, 2018					114,345,565	12,736,633		114,345,565
Ending balance at Dec. 31, 2018	1,005,977,000	1,005,977,000	(57,482,000)	449,000	$ 957,563,000	$ 105,447,000	[1]	$ 1,143,000	956,420,000	(52,857,000)	100,822,000	449,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to common shareholders	109,523,000	116,222,000	116,222,000							109,523,000
Net income attributable to noncontrolling interests	6,674,000	(25,000)		(25,000)							6,699,000	(25,000)
Common units issued as a result of common shares issued by Urban Edge (in shares)					59,895
Common units issued as a result of common shares issued by Urban Edge		439,000	(131,000)		$ 570,000
Limited partnership units issued, net		0
Limited partnership units issued, net (in shares)						450,624
Units redeemed for common shares/OP units (in shares)					6,995,941	(6,995,941)		6,995,941
Units redeemed for common shares/OP units	51,578,000	51,578,000			$ 55,857,000	$ (4,279,000)	[1]	$ 69,000	55,788,000		(4,279,000)
Equity redemption for cash	(5,978,000)	(5,978,000)			(3,422,000)	$ (2,556,000)	[1]		(3,422,000)		(2,556,000)
Equity redemption for cash (in shares)						(357,998)
Reallocation of noncontrolling interests	(51,578,000)	(51,578,000)			4,521,000	$ (56,099,000)	[1]		4,521,000		(56,099,000)
Common shares issued (in shares)								59,895
Common shares issued	439,000							$ 1,000	569,000	(131,000)
Dividends to common shareholders	(106,163,000)									(106,163,000)
Distributions to redeemable NCI	(5,694,000)										(5,694,000)
Distributions to Partners		(111,857,000)	(111,857,000)
Share-based compensation expense	13,549,000	13,549,000			$ 5,906,000	$ 7,643,000	[1]		5,906,000		7,643,000
Share-based awards retained for taxes (in shares)					(31,276)			(31,276)
Share-based awards retained for taxes	(633,000)	$ (633,000)			$ (633,000)				(633,000)
Ending balance (in shares) at Dec. 31, 2019		121,370,125			121,370,125	5,833,318		121,370,125
Ending 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
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
Common units issued as a result of common shares issued by Urban Edge		398,000	(30,000)		$ 428,000	$ 475,081
Units redeemed for common shares/OP units (in shares)					1,579,389	(1,579,389)		1,579,389
Units redeemed for common shares/OP units	11,144,000	11,144,000			$ 11,144,000	$ 0		$ 15,000	11,129,000
Reallocation of noncontrolling interests	(11,144,000)	(11,144,000)			8,833,000	(19,977,000)			8,833,000		(19,977,000)
Common shares issued (in shares)								66,588
Common shares issued	$ 398,000							$ 1,000	427,000	(30,000)
Repurchase of common stock (in shares)	(5,873,923)
Repurchase of common shares	$ (54,141,000)	(54,141,000)			(54,141,000)			$ (59,000)	(54,082,000)
Dividends to common shareholders	(80,480,000)									(80,480,000)
Distributions to redeemable NCI	(3,386,000)										(3,386,000)
Contributions from noncontrolling interests	5,447,000	5,447,000		5,447,000								5,447,000
Distributions to Partners		(83,866,000)	(83,866,000)
Share-based compensation expense	16,994,000	16,994,000			$ 5,871,000	$ 11,123,000			5,871,000		11,123,000
Share-based awards retained for taxes (in shares)					(127,862)			(127,862)
Share-based awards retained for taxes	(1,465,000)	$ (1,465,000)			$ (1,465,000)			$ (1,000)	(1,464,000)
Ending balance (in shares) at Dec. 31, 2020		117,014,317			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		$ 1,169,000	$ 989,863,000	$ (39,467,000)	$ 38,456,000	$ 5,872,000
[1]	Limited partners have a 3.9% common limited partnership interest in the Operating Partnership as of December 31, 2020 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, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends on common shares (in dollars per share)	$ 0.68	$ 0.88	$ 0.88
Distributions to redeemable NCI (in dollars per unit)	0.68	0.88
Accumulated Earnings (Deficit) | Urban Edge Properties LP
Dividends on common shares (in dollars per share)	$ 0.68	$ 0.88	$ 0.88
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, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 97,750	$ 116,197	$ 116,963
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	97,751	96,641	102,942
Casualty and impairment loss, net	3,055	12,738	5,574
Gain on sale of real estate	(39,775)	(68,632)	(52,625)
Gain on sale of lease	0	(1,849)	0
Gain on extinguishment of debt	(34,908)	0	(2,524)
Amortization of below market leases, net	(10,624)	(15,940)	(33,975)
Noncash lease expense	7,522	8,205	0
Straight-lining of rent	10,523	1,021	(735)
Share-based compensation expense	16,994	13,549	9,741
Rental revenue deemed uncollectible	27,890	1,385	4,138
Change in operating assets and liabilities:
Tenant and other receivables	(21,998)	6,734	(13,327)
Deferred leasing costs	(1,218)	(4,303)	(4,675)
Prepaid and other assets	(41,982)	(3,331)	1,867
Lease liabilities	(6,680)	(7,107)	0
Accounts payable, accrued expenses and other liabilities	8,522	1,092	3,676
Net cash provided by operating activities	112,822	156,400	137,040
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(28,522)	(91,301)	(118,765)
Acquisitions of real estate	(124,340)	(47,356)	(4,931)
Proceeds from sale of operating properties	54,402	116,510	57,593
Proceeds from sale of operating lease	0	6,949	0
Insurance proceeds	0	12,677	1,300
Net cash used in investing activities	(98,460)	(2,521)	(64,803)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(89,302)	(5,587)	(4,288)
Dividends paid to common shareholders	(26,647)	(106,163)	(100,244)
Distributions paid to redeemable noncontrolling interests	(1,314)	(5,694)	(11,116)
Taxes withheld for vested restricted shares	(1,465)	(633)	(385)
Debt issuance costs	(3,471)	(2,649)	0
Payment for redemption of units	0	(5,978)	0
Proceeds related to the issuance of common shares	398	439	477
Cash paid to repurchase shares	(54,141)	0	0
Contributions from noncontrolling interests	5,447	0	0
Proceeds from borrowings	90,250	0	0
Net cash used in financing activities	(80,245)	(126,265)	(115,556)
Net (decrease) increase in cash and cash equivalents and restricted cash	(65,883)	27,614	(43,319)
Cash and cash equivalents and restricted cash at beginning of year	485,136	457,522	500,841
Cash and cash equivalents and restricted cash at end of year	419,253	485,136	457,522
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest net of amounts capitalized	68,113	64,751	65,699
Cash payments for income taxes	499	1,601	757
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	5,808	5,056	25,661
Write-off of fully depreciated and impaired assets	21,447	56,199	24,307
Forgiveness of mortgage debt	30,000	0	11,537
Assumption of debt from the acquisition of real estate	72,473	0	0
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of year	432,954	440,430	490,279
Cash and cash equivalents at end of year	384,572	432,954	440,430
Restricted cash at beginning of year	52,182	17,092	10,562
Restricted cash at end of year	34,681	52,182	17,092
Cash and cash equivalents and restricted cash at beginning/end of period	485,136	457,522	457,522
Urban Edge Properties LP
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	97,750	116,197	116,963
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	97,751	96,641	102,942
Casualty and impairment loss, net	3,055	12,738	5,574
Gain on sale of real estate	(39,775)	(68,632)	(52,625)
Gain on sale of lease	0	(1,849)	0
Gain on extinguishment of debt	(34,908)	0	(2,524)
Amortization of below market leases, net	(10,624)	(15,940)	(33,975)
Noncash lease expense	7,522	8,205	0
Straight-lining of rent	10,523	1,021	(735)
Share-based compensation expense	16,994	13,549	9,741
Rental revenue deemed uncollectible	27,890	1,385	4,138
Change in operating assets and liabilities:
Tenant and other receivables	(21,998)	6,734	(13,327)
Deferred leasing costs	(1,218)	(4,303)	(4,675)
Prepaid and other assets	(41,982)	(3,331)	1,867
Lease liabilities	(6,680)	(7,107)	0
Accounts payable, accrued expenses and other liabilities	8,522	1,092	3,676
Net cash provided by operating activities	112,822	156,400	137,040
CASH FLOWS FROM INVESTING ACTIVITIES
Real estate development and capital improvements	(28,522)	(91,301)	(118,765)
Acquisitions of real estate	(124,340)	(47,356)	(4,931)
Proceeds from sale of operating properties	54,402	116,510	57,593
Proceeds from sale of operating lease	0	6,949	0
Insurance proceeds	0	12,677	1,300
Net cash used in investing activities	(98,460)	(2,521)	(64,803)
CASH FLOWS FROM FINANCING ACTIVITIES
Debt repayments	(89,302)	(5,587)	(4,288)
Payments of Capital Distribution	27,961	111,857	111,360
Taxes withheld for vested restricted shares	(1,465)	(633)	(385)
Debt issuance costs	(3,471)	(2,649)	0
Payment for redemption of units	0	(5,978)	0
Proceeds related to the issuance of common shares	398	439	477
Cash paid to repurchase shares	(54,141)	0
Contributions from noncontrolling interests	5,447	0	0
Proceeds from borrowings	90,250	0	0
Net cash used in financing activities	(80,245)	(126,265)	(115,556)
Net (decrease) increase in cash and cash equivalents and restricted cash	(65,883)	27,614	(43,319)
Cash and cash equivalents and restricted cash at beginning of year	485,136	457,522	500,841
Cash and cash equivalents and restricted cash at end of year	419,253	485,136	457,522
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash payments for interest net of amounts capitalized	68,113	64,751	65,699
Cash payments for income taxes	499	1,601	757
NON-CASH INVESTING AND FINANCING ACTIVITIES
Accrued capital expenditures included in accounts payable and accrued expenses	5,808	5,056	25,661
Write-off of fully depreciated and impaired assets	21,447	56,199	24,307
Forgiveness of mortgage debt	30,000	0	11,537
Assumption of debt from the acquisition of real estate	72,473	0	0
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH
Cash and cash equivalents at beginning of year	432,954	440,430	490,279
Cash and cash equivalents at end of year	384,572	432,954	440,430
Restricted cash at beginning of year	52,182	17,092	10,562
Restricted cash at end of year	34,681	52,182	17,092
Cash and cash equivalents and restricted cash at beginning/end of period	$ 485,136	$ 485,136	$ 500,841

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Capitalized interest	$ 715	$ 1,425	$ 3,313
Urban Edge Properties LP
Capitalized interest	$ 715	$ 1,425	$ 3,313

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Urban Edge Properties (“UE”, “Urban Edge” or the “Company”) (NYSE: UE) is a Maryland real estate investment trust focused on managing, developing, redeveloping, and acquiring retail real estate in urban communities, primarily in the New York metropolitan area. Urban Edge Properties LP (“UELP” or the “Operating Partnership”) is a Delaware limited partnership formed to serve as UE’s majority-owned partnership subsidiary and to own, through affiliates, all of the Company’s real estate properties and other assets. Unless the context otherwise requires, references to “we”, “us” and “our” refer to Urban Edge Properties and UELP and their consolidated entities/subsidiaries. The Operating Partnership’s capital includes general and common limited partnership interests in the operating partnership (“OP Units”). As of December 31, 2020, Urban Edge owned approximately 96.1% of the outstanding common OP Units with the remaining limited OP Units held by members of management, Urban Edge’s Board of Trustees and contributors of property interests acquired. Urban Edge serves as the sole general partner of the Operating Partnership. The third-party unitholders have limited rights over the Operating Partnership such that they do not have characteristics of a controlling financial interest. As such, the Operating Partnership is considered a variable interest entity (“VIE”), and the Company is the primary beneficiary which consolidates it. The Company’s only investment is the Operating Partnership. The VIE’s assets can be used for purposes other than the settlement of the VIE’s obligations and the Company’s partnership interest is considered a majority voting interest. As of December 31, 2020, our portfolio consisted of 72 shopping centers, five malls and two industrial parks totaling approximately 16.3 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, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION	BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for annual financial information and with the instructions of Form 10-K. The consolidated financial statements as of and for the years ended December 31, 2020, 2019 and 2018 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 Fin ancial Statements, the Company reclassified Property rentals and Tenant reimbursement income to Rental revenue on its consolidated statements of income for the year ended December 31, 2018, as reflected beginning on Form 10-K for the year ended December 31, 2018. Additionally, the Company includes rental revenue deemed uncollectible as a reduction to rental revenue in the consolidated statements of income for the year ended December 31, 2020 as reflected in this Form 10-K due to the adoption of ASC 842 Leases (“ASU 2016-02”) . Provision for doubtful accounts is included in "Property operating expenses" in the consolidated statements of income for the year ended December 31, 2018. In accordance with ASC 205 , certain prior year balances have been reclassified in order to conform to the current period presentation. The Company includes real estate impairment charges, and casualty losses (gains) resulting from natural disasters in Casualty and impairment loss, net on its consolidated statements of income for the years ended December 31, 2019 and 2018 as reflected in this Form 10-K. Refer to Note 9, Fair Value Measurements and Note 10, Commitments and Contingencies in Part II, Item 8 in this Annual Report on Form 10-K for information regarding real estate impairment charges and casualty losses (gains), respectively. Our primary business is the ownership, management, redevelopment, development and operation of retail shopping centers and malls. We do not distinguish our primary business or group our operations on a geographical basis for purposes of measuring performance. The Company’s chief operating decision maker reviews operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. None of our tenants accounted for more than 10% of our revenue or property operating income. We aggregate all of our properties into one reportable segment due to their similarities with regard to the nature and economics of the properties, tenants and operations, as well as long-term average financial performance.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
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. Real Estate — Real estate is carried at cost, net of accumulated depreciation and amortization. Expenditures for ordinary maintenance and repairs are expensed to operations as they are incurred. Significant renovations that improve or extend the useful lives of assets are capitalized. As real estate is undergoing redevelopment activities, all property operating expenses directly associated with and attributable to the redevelopment, including interest, are capitalized to the extent the capitalized costs of the property do not exceed the estimated fair value of the property when completed. If the cost of the redeveloped property, including the net book value of the existing property, exceeds the estimated fair value of redeveloped property, the excess is charged to impairment expense. The capitalization period begins when redevelopment activities are underway and ends when the project is substantially complete. Depreciation is recognized on a straight-line basis over estimated useful lives which range from one 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 are individually reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Such events and changes include macroeconomic conditions, including those caused by global pandemics, like the recent COVID-19 pandemic, which resulted 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. Real Estate Held For Sale — When a real estate asset is identified by management as held for sale, we cease depreciation of the asset and estimate its fair value, net of estimated costs to sell. If the estimated fair value, net of estimated costs to sell, of an asset is less than its net carrying value, an impairment charge is recorded to reflect the estimated fair value. The Company classifies properties as held for sale when executed contract contingencies have been satisfied, which signify that the sale is legally binding. Refer to Note 4, Acquisitions and dispositions in Part II, Item 8. in this Annual Report on Form 10-K. 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 consists of (i) deposits at major commercial banks, 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. In light of the recent and ongoing COVID-19 pandemic, the Company is closely monitoring changes in the collectibility assessment of its tenant receivables as a result of certain tenants suffering adverse financial consequences. We recognize changes in the collectibility assessment of these operating leases as adjustments to rental revenue in accordance with ASC 842 Leases . Management exercises judgment in assessing collectibility and considers payment history, current credit status and publicly available information about the financial condition of the tenant, among other factors. Tenant receivables, including receivables arising from the straight-lining of rents, are written-off directly when management deems that the collectibility of substantially all future lease payments from a specific lease is not probable for collection, 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. In addition, future revenue recognition is limited to amounts paid by the lessee. We will generally return to an accrual basis of accounting, if and when, collectability of substantially all the remaining contractual lease payments is reasonably probable. During the year ended December 31, 2020, rental revenue deemed uncollectible of $27.9 million was classified as a reduction to rental revenue based on our assessment of the probability of collecting substantially all of the remaining rents for certain tenants. Additionally, during the year ended December 31, 2020 we recognized write-offs of $12.0 million related to receivables arising from the straight-lining of rents as a result of tenants impacted by the COVID-19 pandemic. 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. Deferred Financing Costs — Deferred financing costs include fees associated with our revolving credit agreement. Such fees are amortized on a straight-line basis over the terms of the related revolving credit agreement 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, 2020. Deferred financing costs are included in prepaid expenses and other assets on the consolidated balance sheets. Revenue Recognition — We have the following revenue sources and revenue recognition policies: • Rental revenue for fiscal periods prior to January 1, 2019: Rental revenue comprises revenue from property rentals and tenant expense reimbursements, as designated within tenant operating leases in accordance with ASC 840 Leases . ◦ Property Rentals: We generate revenue from minimum lease payments from tenant operating leases. These rents are recognized over the noncancelable terms of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases in accordance with ASC 840. We satisfy our performance obligations over time, under the noncancelable lease term, commencing when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a lease incentive to tenants, we recognize the incentive as a reduction of rental revenue on a straight-line basis over the remaining term of the lease. The underlying leased asset remains on our consolidated balance sheet and continues to depreciate. In addition to minimum lease payments, certain rental income derived from our tenant leases is contingent and dependent on percentage rent. 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. ◦ Tenant expense reimbursements: In accordance with ASC 840, revenue arises from tenant leases, which provide for the recovery of all or a portion of the operating expenses, real estate taxes and capital improvements of the respective property. This revenue is accrued in the period the expenses are incurred. • Rental revenue for fiscal periods beginning on or after January 1, 2019: 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. This revenue is recognized as the services are transferred in accordance with ASC 606 Revenue from Contracts with Customers . • Management and development fees: We generate 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. Leases — We have approximately 1,100 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, 2020 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 $2.4 million and $4.1 million for the years ended December 31, 2020 and 2019, 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 $96.7 million and $105.3 million for the years ended December 31, 2020 and 2019, respectively. The Company accounts for variable lease payments as "Rental revenue" on the consolidated statement of 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 22 properties in its portfolio either completely or partially on land or 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 less than two years to over 80 years and provide us the right to operate each such property. We also lease or sublease real estate for our three corporate offices with remaining terms of less than one year. Right-of-use ("ROU") assets are recorded for these leases, which represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from these leases. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The initial measurement of a ROU asset may differ from the initial measurement of the lease liability due to initial direct costs, prepaid lease payments and lease incentives. As of December 31, 2020, no other contracts 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 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 which do not have the obligation to absorb expected losses, do not have the right to receive expected residual returns, or do not have the characteristics of a controlling financial interest 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, 2020. 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, 2020. The majority of the operations of these VIEs are funded with cash flows generated by the property. As of December 31, 2020, excluding the Operating Partnership, we consolidated two VIEs with total assets and liabilities of $43.6 million and $31.5 million, respectively. As of December 31, 2019, excluding the Operating Partnership, we consolidated one VIE with total assets of $9.8 million and liabilities of $3.1 million. 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. 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. With the exception of the Company’s TRS, to the extent the Company meets certain requirements under the Code, the Company will not be taxed on its federal taxable income. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates (including any alternative minimum tax, which, for corporations, was repealed under the TCJA for tax years beginning after December 31, 2017) and may not be able to qualify as a REIT for the four subsequent taxable years. In addition to its TRS, 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. 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, 2020. As of December 31, 2020, The Home Depot was our largest tenant with six stores which comprised an aggregate of 809,000 sf and accounted for approximately $20.7 million, or 6.3% of our total revenue for the year ended December 31, 2020. Recently Issued Accounting Literature Effective for the fiscal period beginning January 1, 2019, we adopted (“ASU 2016-02”) ASC 842 Leases, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). In connection with the adoption of ASU 2016-02, we also adopted (i) ASU 2019-01 Leases (ASC 842): Codification Improvements , (ii) ASU 2018-20 Leases (ASC 842): Narrow-Scope Improvements for Lessors , (iii) ASU 2018-11 Leases (ASC 842): Targeted Improvements , (iv) ASU 2018-10 Codification Improvements to ASC 842, Leases and (v) ASU 2018-01 Leases (ASC 842): Land Easement Practical Expedient for Transition to Topic 842. We initially applied the standard at the beginning of the period of adoption through the transition method issued by ASU 2018-11 and have presented comparative periods under ASC 840 Leases . Due to the effects of applying ASC 842, the Company recognized a $2.9 million cumulative-effect adjustment to its accumulated deficit in the year ended December 31, 2019 to adjust r eserves on receivables from straight-line rents . The new standard requires lessees to apply a two-model approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification determines whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. The Company has elected the short-term lease recognition exemption, and therefore, leases with a term of 12 months or less are not recognized on the balance sheet. The new standard requires lessors to account for leases using an approach that is substantially equivalent to guidance for sales-type leases, direct financing leases and operating leases under ASC 840. For purposes of transition, we did not elect the hindsight practical expedient but did elect the land easement practical expedient to not reassess whether existing land easements contain leases and the practical expedient package, which has been applied consistently to all of our leases. As a result of electing the practical expedient package, we did not (i) reassess whether any expired or existing contracts are or contain leases, (ii) reassess the lease classification for any expired or existing leases or (iii) reassess initial direct costs for any existing leases. From a lessee perspective, the initial adoption on January 1, 2019 resulted in the recognition of operating lease ROU assets and lease liabilities for 24 operating leases with an aggregate balance of $98.5 million and $93.6 million, respectively. On January 1, 2019, we also reclassified $11.9 million of acquired below-market lease intangibles and $7.1 million of accrued rent and adjusted the carrying values of our ROU assets by the corresponding amounts. As of December 31, 2020, the Company had 26 operating leases and our operating lease ROU assets and lease liabilities were $81.0 million and $75.0 million, respectively, as presented on our consolidated balance sheet. Subsequent to adoption, the Company recognized a finance lease in connection with the Company acquiring the lessee position of a ground lease in 2019. As of December 31, 2020, our finance lease ROU asset and finance lease liability were $2.7 million and $3.0 million, respectively. The finance lease ROU asset is included within prepaid expenses and other assets on our consolidated balance sheets as of December 31, 2020 and 2019 and the finance lease liability is included within accounts payable, accrued expenses and other liabilities on our consolidated balance sheets as of December 31, 2020 and 2019. The Company recognizes interest expense on its finance lease liability. The standard's adoption has also impacted the presentation of our consolidated income statement due to accounting for the lease and non-lease components as a single lease component for all classes of underlying assets, presented as lease expense on the consolidated statement of income. Prior to the adoption of ASC 842, related lease and non-lease expense amounts were recognized within lease expense, real estate taxes, property operating expenses and general administrative expenses on the consolidated statement of income. From a lessor perspective, the adoption resulted in additional general and administrative expenses, attributable to internal leasing department costs not meeting the definition of initial direct costs under ASC 842. The standard's adoption has also impacted the presentation of our consolidated income statement due to accounting for lease and non-lease components as a single lease component, presented as rental revenue on the consolidated statement of income, however there has been no change in the timing of revenue recognition since adoption. Additionally, under the amendments issued in ASU 2018-20, the Company has accounted for common area maintenance expenses paid directly by tenants to third-parties as variable rental revenue and has reported the corresponding expense within property operating expenses. Real estate taxes and insurance expenses paid directly by tenants have not been recognized as rental revenue or as expenses on the consolidated statements of income. The adoption of this standard has also resulted in additional quantitative and qualitative footnote disclosures (refer to Note 8 Leases to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K). Effective for the fiscal

ACQUISITIONS AND DISPOSITIONS

ACQUISITIONS AND DISPOSITIONS	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS AND DISPOSITIONS	ACQUISITIONS AND DISPOSITIONS Acquisitions During the years ended December 31, 2020 and December 31, 2019, we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) February 12, 2020 Kingswood Center Brooklyn NY 130,000 $ 90,212 February 12, 2020 Kingswood Crossing Brooklyn NY 110,000 77,077 December 11, 2020 51 East Spring Valley Ave Maywood NJ 3,000 662 December 31, 2020 Sunrise Mall Massapequa NY 1,211,000 31,545 2020 Total $ 199,496 (1) November 1, 2019 25 East Spring Valley Ave Maywood NJ 43,800 $ 7,162 November 8, 2019 Wonderland Marketplace Revere MA 139,500 24,209 December 9, 2019 150 Route 4 East Paramus NJ 12,000 7,118 2019 Total $ 38,489 (1) (1) The total purchase price for the properties acquired in the year ended December 31, 2020 and December 31, 2019 include $3.1 million and $0.3 million, respectively, of transaction costs incurred in relation to the transactions. During the year ended December 31, 2020, the Company purchased four assets, at an aggregate purchase price of $199.5 million and 1.5 million sf, comprising two assets located in Brooklyn, NY, one asset located in Massapequa, NY and one asset adjacent to our existing property, Bergen Town Center. The Company acquired Sunrise Mall in Massapequa, NY for $31.5 million, including transaction costs on December 31, 2020. The Company’s acquired ownership interest of the asset is 82.5% with the remaining 17.5% held by strategic partners. As of December 31, 2020, the Company was subject to $6.0 million of additional consideration related to the acquisition of Sunrise Mall, the payment of which is contingent on the verdict of a property tax appeal. As of December 31, 2020, the outcome of this appeal could not be estimated or determined and was therefore not recorded in the financial statements. The Company acquired Kingswood Center and Kingswood Crossing for $167.3 million, including transaction costs on February 12, 2020. The properties are located along Kings Highway in the Midwood neighborhood of Brooklyn, NY and were funded via 1031 exchanges using cash proceeds from dispositions. Additionally, as part of the acquisition of Kingswood Center, the Company assumed a $65.5 million mortgage, which matures in 2028. A portion of the acquisition of Kingswood Crossing was completed as a reverse Section 1031 like-kind exchange. We entered into a reverse Section 1031 like-kind exchange agreement with third-party intermediaries, which, for a maximum of 180 days, allowed us to defer for tax purposes, gains on the sale of other properties identified and sold within the period. Until the earlier of the termination of the exchange agreements or 180 days after the respective acquisition dates, the third-party intermediaries are the legal owner of the properties; however, we controlled the activities that most significantly impact each property and retained all of the economic benefits and risks associated with each property. Therefore, at the date of acquisition, we determined that we were the primary beneficiary of these variable interest entities and consolidated the properties and their operations as of the acquisition date. The Company purchased three assets with a total consideration of $38.5 million during the year ended December 31, 2019. Wonderland Marketplace is located in the Boston metropolitan area and two assets are adjacent to our existing property, Bergen Town Center. The acquisitions were executed through Internal Revenue Code Section 1031 tax deferred exchange transactions and funded using proceeds from dispositions. The aggregate purchase price of the above property acquisitions has been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Debt Premium ROU assets net of lease liabilities Other assets, net Total Purchase Price (in thousands) Kingswood Center $ 15,690 $ 76,766 $ 9,263 $ (4,534) $ (6,973) $ — $ — $ 90,212 Kingswood Crossing 8,150 64,159 4,768 — — — — 77,077 51 East Spring Valley Ave 662 — — — — — — 662 Sunrise Mall (2) 44,035 3,084 5,495 (26,495) — 5,012 414 31,545 2020 Total $ 68,537 $ 144,009 $ 19,526 $ (31,029) $ (6,973) $ 5,012 $ 414 $ 199,496 25 East Spring Valley Ave (3) $ — $ 6,824 $ 623 $ (31) $ — $ (254) $ — $ 7,162 Wonderland Marketplace 6,323 17,130 2,947 (2,191) — — — 24,209 150 Route 4 East 7,118 — — — — — — 7,118 2019 Total $ 13,441 $ 23,954 $ 3,570 $ (2,222) $ — $ (254) $ — $ 38,489 (1) As of December 31, 2020, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2020 were 11.0 years and 32.5 years, respectively and the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2019 were 11.4 years and 23 years, respectively. (2) In connection with this acquisition, the Company acquired the lessee positions of ground leases and recognized operating lease ROU assets and operating lease liabilities. Refer to Note 8 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for further information. (3) In connection with this acquisition, the Company acquired the lessee position of a ground lease and recognized a finance lease ROU asset and finance lease liability of $2.7 million and $3.0 million, respectively. Dispositions During the year ended December 31, 2020, we disposed of three properties and received proceeds of $58.1 million, net of selling costs, resulting in a $39.8 million net gain on sale of real estate. The sale of all three dispositions were completed as 1031 exchanges with Kingswood Crossing as a result of the sales occurring within 180 days of the Company’s acquisition. During the year ended December 31, 2019, we disposed of eight properties and received proceeds of $112.8 million, net of selling costs, resulting in a $68.6 million net gain on sale of real estate on our consolidated statements of income d uring the year ended December 31, 2019. During the year ended December 31, 2019 , the Company also sold its lessee position in one of its ground leases and received proceeds of $6.9 million, net of selling costs, and derecognized the lease’s ROU asset and corresponding lease liability. We recognized a gain on sale of lease of $1.8 million on our consolidated statements of income d uring the year ended December 31, 2019 as a result of the sale. Real Estate Held for Sale As of December 31, 2020, a parcel of one property in Lodi, NJ was classified as held for sale based on an executed contract of sale with a third-party buyer. The aggregate amount of this parcel was $7.1 million and was included in prepaid expenses and other assets in our consolidated balance sheets as of December 31, 2020. The parcel was sold in January 2021. As of December 31, 2019, two properties in Lawnside, NJ and Bethlehem, PA were classified as held for sale based on executed contracts of sale with third-party buyers. The aggregate amounts of the Lawnside, NJ and Bethlehem, PA properties were $3.5 million and $3.1 million, respectively, and were included in prepaid expenses and other assets in our consolidated balance sheets as of December 31, 2019. Both properties were sold during the year ended December 31, 2020.

IDENTIFIED INTANGIBLE ASSETS AN

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 In-place leases $ 82,303 $ 71,328 Accumulated amortization (32,515) (27,254) Above-market leases 9,255 6,100 Accumulated amortization (3,570) (2,998) Other intangible assets 1,635 1,635 Accumulated amortization (924) (690) Identified intangible assets, net of accumulated amortization 56,184 48,121 Below-market leases 219,558 191,440 Accumulated amortization (71,375) (62,610) Identified intangible liabilities, net of accumulated amortization $ 148,183 $ 128,830 Amortization of acquired below-market leases, net of acquired above-market leases resulted in rental income of $10.6 million, $15.9 million, and $34.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization of acquired in-place leases and customer relationships resulted in depreciation and amortization expense of $10.2 million, $8.8 million, $15.1 million for the years ended December 31, 2020, 2019 and 2018, respectively. 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, 2021: (Amounts in thousands) Below-Market Above-Market In-Place Lease Year Operating Lease Amortization Operating Lease Amortization Amortization 2021 $ 10,543 $ (1,170) $ (7,596) 2022 10,466 (803) (5,998) 2023 10,421 (695) (4,857) 2024 10,185 (631) (4,371) 2025 10,012 (452) (3,733)

MORTGAGES PAYABLE

MORTGAGES PAYABLE	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
MORTGAGES PAYABLE	MORTGAGES PAYABLE The following is a summary of mortgages payable as of December 31, 2020 and December 31, 2019. Interest Rate at December 31, December 31, (Amounts in thousands) Maturity December 31, 2020 2020 2019 First mortgages secured by: Variable rate Cherry Hill (Plaza at Cherry Hill) (1) 5/24/2022 1.75% $ 28,930 $ 28,930 Westfield (One Lincoln Plaza) (1) 5/24/2022 1.75% 4,730 4,730 Woodbridge (Plaza at Woodbridge) (1) 5/25/2022 1.75% 55,340 55,340 Jersey City (Hudson Commons) (2) 11/15/2024 2.05% 28,586 29,000 Watchung (2) 11/15/2024 2.05% 26,613 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 2.05% 25,172 24,500 Total variable rate debt 169,371 169,500 Fixed rate Paramus (Bergen Town Center - West) 4/8/2023 3.56% 300,000 300,000 Bronx (Shops at Bruckner) 5/1/2023 3.90% 10,351 10,978 Jersey City (Hudson Mall) 12/1/2023 5.07% 22,904 23,625 Yonkers Gateway Center 4/6/2024 4.16% 28,482 30,122 Brick 12/10/2024 3.87% 50,000 50,000 North Plainfield 12/10/2025 3.99% 25,100 25,100 Las Catalinas 2/1/2026 4.43% 127,669 129,335 Middletown 12/1/2026 3.78% 31,400 31,400 Rockaway 12/1/2026 3.78% 27,800 27,800 East Hanover (200 - 240 Route 10 West) 12/10/2026 4.03% 63,000 63,000 North Bergen (Tonnelle Ave) 4/1/2027 4.18% 100,000 100,000 Manchester 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 23,381 23,798 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge (Woodbridge Commons) 12/1/2027 4.36% 22,100 22,100 East Brunswick 12/6/2027 4.38% 63,000 63,000 East Rutherford 1/6/2028 4.49% 23,000 23,000 Brooklyn (Kingswood Center) (3) 2/6/2028 5.07% 71,696 — Hackensack 3/1/2028 4.36% 66,400 66,400 Marlton 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (2445 Springfield Ave) 12/10/2028 4.01% 45,600 45,600 Freeport (Freeport Commons) 12/10/2029 4.07% 43,100 43,100 Montehiedra 6/1/2030 5.00% 81,141 83,202 Montclair 8/15/2030 3.15% 7,250 — Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco (3) 11/15/2034 6.40% 12,952 13,488 Montehiedra (junior loan) — —% — 30,000 Total fixed rate debt 1,428,026 1,386,748 Total mortgages payable 1,597,397 1,556,248 Unamortized debt issuance costs (9,865) (10,053) Total mortgages payable, net of unamortized debt issuance costs $ 1,587,532 $ 1,546,195 (1) Bears interest at one month LIBOR plus 160 bps. (2) Bears interest at one month LIBOR plus 190 bps. (3) The mortgage payable balance on the loan secured by Kingswood Center includes $6.2 million of unamortized debt premium as of December 31, 2020. The effective interest rate including amortization of the debt premium is 3.5% as of December 31, 2020. The net carrying amount of real estate collateralizing the above indebtedness amounted to approximately $1.3 billion as of December 31, 2020. Our mortgage loans contain covenants that limit our ability to incur additional indebtedness on these properties and in certain circumstances require lender approval of tenant leases and/or yield maintenance upon repayment prior to maturity. As of December 31, 2020, we were in compliance with all debt covenants. As of December 31, 2020, the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2021 $ 14,460 2022 103,526 2023 349,742 2024 163,625 2025 40,867 2026 231,056 Thereafter 694,121 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. Company borrowings under the Agreement are subject to interest at LIBOR plus 1.05% to 1.50% and an annual facility fee of 15 to 30 basis points. Both the spread over LIBOR and the facility fee are based on our current leverage ratio and are subject to increase if our leverage ratio increases above predefined thresholds. The Agreement contains customary financial covenants including a maximum leverage ratio of 60% and a minimum fixed charge coverage ratio of 1.5x. In March 2020 we drew $250 million on our $600 million revolving credit facility and this balance was fully repaid in November 2020. No amounts were drawn or outstanding under the Agreement as of December 31, 2020. Financing fees associated with the Agreement of $3.3 million and $3.9 million as of December 31, 2020 and December 31, 2019, respectively, are included in deferred financing fees, net in the consolidated balance sheets. 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, and to include the ability for the Company to repay the loan at a discounted value of $72.5 million, beginning in August 2023 through the extended maturity date of February 2026. We have accrued interest of $6.5 million related to this mortgage, which is included in accounts payable, accrued expenses and other liabilities on the consolidated balance sheet as of December 31, 2020. 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 Troubled Debt Restructurings . Mortgage on property in Montclair, NJ On August 6, 2020, the Company obtained a 10-year non-recourse mortgage loan of $7.3 million at a rate of 3.15% on its property in Montclair, NJ. Mortgage on The Outlets at Montehiedra In June 2020, we completed the refinancing of our non-recourse mortgage on The Outlets at Montehiedra (“Montehiedra”) in Puerto Rico. Prior to the refinancing, the mortgage was comprised of an $83 million senior loan bearing interest at 5.33% and a $30 million junior loan bearing interest at 3.00%, plus total accrued interest of $5.7 million. Under the payoff provisions of the prior mortgage, the $30 million junior loan plus accrued interest of $5.4 million on the junior loan was forgiven and the senior loan was replaced by a new $82 million 10-year fixed rate mortgage, bearing interest at 5.00%. As a result of the transaction, we recognized a net gain on extinguishment of debt of $34.9 million during the year ended December 31, 2020, comprised of the forgiven $30 million junior loan plus accrued interest of $5.4 million, offset by the write-off of $0.4 million of unamortized deferred financing fees and $0.1 million of transaction costs incurred.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
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. With the exception of the Company’s TRS, to the extent the Company meets certain requirements under the Code, the Company will not be taxed on its federal taxable income. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates (including any alternative minimum tax, which, for corporations, was repealed under the TCJA for tax years beginning after December 31, 2017) and may not be able to qualify as a REIT for the four subsequent taxable years. In addition to its TRS, 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. The Company satisfied its REIT distribution requiremen t by distributing $0.68 per common share in 2020, which comprised a regular quarterly cash dividend of $0.22 per common share declared for the first quarter of 2020 and a special cash dividend of $0.46 per common share declared in December 2020. During the years ended December 31, 2019 and 2018, the Company declared cash distributions on our common shares of $0.88 per share . Th e taxability of such dividends for the years ended December 31, 2020, 2019 and 2018 are as follows: Year Ended December 31, 2020 2019 2018 Dividend paid per share (1) $ 0.68 $ 0.88 $ 0.88 Ordinary income 100 % 83 % 100 % Return of capital — % — % — % Capital gains — % 17 % — % (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, during the years ended December 31, 2020 and 2019, certain non-real estate operating activities that could not be performed by the REIT, occurred through the Company’s TRS, and the Company’s TRS is subject to federal, state and local income taxes. These income taxes are included in the income tax expense in the consolidated statements of income. On June 1, 2020, the Company completed a mortgage refinancing of its mall in Puerto Rico, The Outlets at Montehiedra (“Montehiedra”). The debt forgiven as a part of this refinancing resulted in a write-down to our Puerto Rico tax basis in the mall equal to such amount of debt forgiven and the recognition of a deferred tax liability on the Company’s consolidated balance sheet, which amounted to $10.3 million. On June 5, 2020 and December 11, 2020, the Company completed a legal entity restructuring of Montehiedra and Las Catalinas Mall, respectively. Prior to the legal entity restructuring, both malls were held in a special partnership for Puerto Rico tax purposes (the general partner being a qualified REIT subsidiary or “QRS”) and subject to a 29% non-resident withholding tax which is included in income tax benefit (expense) in the consolidated statements of income. The legal entity restructurings resulted in a step up in our Puerto Rico tax basis in each mall and the recognition of a deferred tax asset on the Company’s consolidated balance sheet, which amounted to $23.7 million for Montehiedra and $29.5 million for Las Catalinas Mall. As a result of the legal entity restructurings, the Operating Partnership, and therefore, the REIT and the other minority partners, are now deemed to be engaged in a trade or business for each mall with respect to their allocable share of Puerto Rico taxable income and, as such, required to file Puerto Rico income tax returns. The REIT is subject to regular Puerto Rico corporate income taxes on its allocable share of the Company’s Puerto Rico operating activities as opposed to the former 29% non-resident withholding tax on the net income from such Puerto Rico operating activities allocated to the Operating Partnership. The Puerto Rico corporate income tax consists of a flat 18.5% tax rate plus a graduated income surcharge tax for a maximum corporate income tax rate of 37.5%. In addition, the REIT is subject to a 10% branch profit tax on the earnings and profits generated from 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. Together, the refinancing and legal entity restructuring transactions resulted in a net deferred tax asset of $42.9 million, which is included in prepaid expenses and other assets on the consolidated balance sheets as of December 31, 2020, and the Company recognized an accompanying Puerto Rico income tax benefit on the consolidated statements of income during the year ended December 31, 2020. As a result of the Montehiedra refinancing and the Las Catalinas Mall troubled debt restructuring, 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. Refer to Note 6 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for further information on the Montehiedra refinancing and the Las Catalinas Mall troubled debt restructuring. 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, 2020, no valuation allowance has been recorded against the deferred tax assets that resulted from the legal entity restructurings of the Puerto Rico malls. In assessing the realizability of deferred tax assets, management determined it is more likely than not that these deferred tax assets will be realized. During the year ended December 31, 2020, the Company recorded a $4.5 million valuation allowance against the deferred tax asset attributable to the REIT’s state and local income tax liability incurred from strategies implemented to limit the impact of the Montehiedra refinancing and the Las Catalinas troubled debt restructuring on the Company’s U.S. federal taxable income because management determined that it is not more likely than not that these deferred tax assets will be realized. For the year ended December 31, 2019, the Company recorded a valuation allowance against the deferred tax asset related to a federal net operating loss generated at the Company’s operating TRS. This determination was based on the operating TRS’ lack of anticipated future taxable income. As a result of a change in circumstances in 2020 related to anticipated future profitability of the Company’s operating TRS, such valuation allowance was released. As of December 31, 2020, the Company’s total valuation allowance was $4.5 million. We record 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 . Income before income taxes from the Company’s operating activities in Puerto Rico during the years ended December 31, 2020 and 2019 was $26.4 million and $9.4 million, respectively. For the year ended December 31, 2020, the REIT’s state and local income tax expense was $4.5 million and the Puerto Rico income tax benefit was $43.5 million. The Puerto Rico tax expense recorded was $1.2 million and $3.3 million for the years ended December 31, 2019 and December 31, 2018, respectively. 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. Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018 consists of the following: Year Ended December 31, (Amounts in thousands) 2020 2019 2018 Income tax expense (benefit): Current: U.S. federal income tax $ — $ — $ 154 U.S. state and local income tax 4,525 66 101 Puerto Rico income tax 1,293 851 560 Total current 5,818 917 815 Deferred: U.S. federal income tax (6) — — U.S. state and local income tax — — — Puerto Rico income tax (1) (44,808) 370 2,704 Total deferred (44,814) 370 2,704 Total income tax expense (benefit) $ (38,996) $ 1,287 $ 3,519 (1) Due to the effects of applying ASC 842 on January 1, 2019, a deferred tax benefit of $0.8 million was recognized within a cumulative-effect adjustment to accumulated deficit to adjust r eserves on receivables from straight-line rents during the year ended December 31, 2019. Refer to Note 3 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for more information. 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) 2020 2019 2018 Federal provision at statutory tax rate (1) $ 12,338 $ 24,672 $ 25,301 REIT income before income taxes not subject to federal tax provision (12,339) (24,677) (14,390) TRS permanent book to tax adjustments — — (10,740) State and local income tax provision, net of federal benefit 11 66 84 Puerto Rico income tax provision (43,515) 1,221 3,264 Change in valuation allowance 4,509 5 — Total income tax expense (benefit) $ (38,996) $ 1,287 $ 3,519 (1) Federal statutory tax rate of 21% for the years ended December 31, 2020, 2019 and 2018. Below is a table summarizing the Company’s deferred tax assets and liabilities as of December 31, 2020 and 2019: Balance at (Amounts in thousands) December 31, 2020 December 31, 2019 Deferred tax assets: Depreciation $ 41,942 $ — Amortization of deferred financing costs 1,105 69 Rental revenue deemed uncollectible 2,109 461 Charitable contribution 7 5 Net operating loss 107 5 Valuation allowance (4,514) (5) Total deferred tax assets 40,756 535 Deferred tax liabilities: Depreciation — (4,416) Straight line rent (738) (1,051) Amortization of acquired leases (228) (205) Accrued interest expense (113) — Total deferred tax liabilities (1,079) (5,672) Net deferred tax assets (liabilities) $ 39,677 $ (5,137)

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	LEASES Leases as lessor We have approximately 1,100 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, 2020 and 2019 were as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 Rental Revenue Fixed lease revenue $ 235,488 $ 274,397 Variable lease revenue 92,792 110,008 Total rental revenue $ 328,280 $ 384,405 As lessor under ASC 840, rental revenue from percentage rent was $2.0 million and rental revenue from tenant expense reimbursements was $108.7 million for the year ended December 31, 2018. Property, plant and equipment under operating leases as lessor As of December 31, 2020 and 2019 , 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, 2020 , 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, 2021 $ 252,690 2022 241,036 2023 219,771 2024 186,531 2025 162,906 2026 142,130 Thereafter 703,522 Total undiscounted cash flows $ 1,908,586 Leases as lessee As of December 31, 2020, the Company had 22 properties in its portfolio either completely or partially on land or a building that was 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 less than two years to over 80 years and provide us the right to operate the property. We also lease or sublease real estate for our three corporate offices with remaining terms of less than one year. 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. During the year ended December 31, 2019 , the Company reassessed the lease term of one of its ground leases due to a change in circumstances in our election to renew the ground lease. As a result of this reassessment, the Company remeasured the lease liability by using revised inputs as of the reassessment date and recorded an additional ROU asset and lease liability of $5.0 million , respectively. During the year ended December 31, 2019 , the Company sold its lessee position in one of its operating ground leases for $6.9 million, net of selling costs, and derecognized the lease’s ROU asset and corresponding lease liability. We recognized a gain on sale of lease of $1.8 million on our consolidated statements of income during the year ended December 31, 2019 as a result of the sale. On July 31, 2019, the Company’s lessee position in one of its ground leases expired in accordance with the terms of the lease. Additionally, on November 1, 2019 the Company recognized a finance lease ROU asset and finance lease liability of $2.7 million and $3.0 million, respectively, in connection with the Company’s acquisition of the lessee position of a ground lease at 25 East Spring Valley Ave in Maywood, NJ. The Company assessed the lease classification as a finance lease due to the Company’s reasonably certain likelihood of exercising its option to purchase the lease. The components of lease expense for the years ended December 31, 2020 and 2019 were as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 Lease expense Operating lease cost (1) $ 10,875 $ 11,730 Variable lease cost 2,792 2,736 Total lease expense $ 13,667 $ 14,466 (1) During the years ended December 31, 2020 and 2019, the Company recognized sublease income of $17.7 million and $19.7 million, respectively, included in rental revenue on the consolidated statement of 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, 2020 and December 31, 2019 was as follows: December 31, 2020 December 31, 2019 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 15.7 years 35.2 years 15.3 years 36.2 years Weighted-average discount rates 3.99 % 4.01 % 4.03 % 4.01 % Supplemental cash information related to leases for the years ended December 31, 2020 and 2019 was as follows: (Amounts in thousands) Year Ended December 31, Cash paid for amounts included in the measurement of lease liabilities: 2020 2019 Operating cash flows from operating leases $ 10,033 $ 10,698 Operating cash flows from finance lease 120 10 Financing cash flows from finance lease 11 8 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,740 $ 98,980 Finance lease — 2,991 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 2021 $ 9,363 $ 109 2022 8,598 109 2023 8,486 109 2024 8,500 109 2025 6,599 109 2026 6,341 124 Thereafter 57,541 6,299 Total undiscounted cash flows 105,428 6,968 Present value discount (30,456) (3,975) Discounted cash flows $ 74,972 $ 2,993

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS ASC 820, Fair Value Measurement and Disclosures defines fair value and establishes a framework for measuring fair value. The objective of fair value is to determine the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three levels: Level 1 - quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities; Level 2 - observable prices based on inputs not quoted in active markets, but corroborated by market data; and Level 3 - unobservable inputs used when little or no market data is available. The fair value hierarchy gives the highest priority to Level 1 inputs and the lowest priority to Level 3 inputs. In determining fair value, we utilize valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as consider counterparty credit risk in our assessment of fair value. Financial Assets and Liabilities Measured at Fair Value on a Recurring or Non-Recurring Basis There were no financial assets or liabilities measured at fair value on a recurring or non-recurring basis as of December 31, 2020 and December 31, 2019. Financial Assets and Liabilities not Measured at Fair Value Financial assets and liabilities that are not measured at fair value on the consolidated balance sheets include cash and cash equivalents 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 these financial instruments as of December 31, 2020 and December 31, 2019. As of December 31, 2020 As of December 31, 2019 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 384,572 $ 384,572 $ 432,954 $ 432,954 Liabilities: Mortgages payable (1) $ 1,597,397 $ 1,611,868 $ 1,556,248 $ 1,590,503 (1) Carrying amounts exclude unamortized debt issuance costs of $9.9 million and $10.1 million as of December 31, 2020 and December 31, 2019, respectively. Nonfinancial Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis We assess the carrying value of our properties for impairment, when events or changes in circumstances indicate that the carrying value may not be recoverable. Such events and changes include macroeconomic conditions, including those caused by global pandemics, such as COVID-19, which may result in property operational disruption and indicate that the carrying amount may not be recoverable. 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 book value of this property exceeded its estimated fair value less costs to sell. The fair value of the property was based on an executed contract of sale with a third-party buyer less costs to sell. During the year ended December 31, 2019, the Company recognized impairment charges on four retail properties that the Company was actively marketing. The impairment loss was calculated as the difference between the assets’ individual carrying values and the estimated aggregated fair values of $38.5 million, less estimated selling costs. The valuation of these properties were based on capitalization rates, discounted future cash flows, third-party appraisals, broker selling estimates and sale agreements under negotiations. The capitalization rates (ranging from 9.9% to 12.1%) and discounts rates (ranging from 9.3% to 10.8%) utilized in the analyses were based upon unobservable rates that the Company believes to be in a reasonable range of current market rates. During the year ended December 31, 2018, we recognized a $3.1 million impairment charge on our property in Salem, NH as a result of the loss of the anchor tenant at the property. The valuation of our property in Salem, NH was based on comparable property transactions in the property’s surrounding area. We also recognized a $2.5 million impairment charge on our property in West Babylon, NY. The fair value for our property in West Babylon, NY was based on an executed letter of intent with a third-party buyer less costs to sell. 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 $3.1 million, $26.3 million and $5.6 million, respectively, are included as an expense within casualty and impairment loss, net on our consolidated statements of income for the years ended December 31, 2020, 2019 and 2018.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal Matters There are various legal actions against us in the ordinary course of business. In our opinion, after consultation with legal counsel, the outcome of such matters will not have a material adverse effect on our financial condition, results of operations or cash flows. Redevelopment As of December 31, 2020, we had approximately $132.4 million of active development, redevelopment and anchor repositioning projects underway, of which $86.6 million remains to be funded. Further, while we have identified future projects in our development pipeline, we are under no obligation to execute and fund any of these projects and each of these projects is being reevaluated considering market conditions. The Company has updated many of its active project stabilization dates to reflect the impact of the COVID-19 pandemic on its contractors, tenants and vendors. 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 financial condition. Certain of our loans and other agreements contain customary covenants requiring the maintenance of insurance coverage. Although we believe that we currently have adequate insurance coverage for purposes of these agreements, we may not be able to obtain an equivalent amount of coverage at reasonable costs in the future. If lenders or other counterparties insist on greater coverage than we are able to obtain, such requirement could materially and adversely affect our ability to finance our properties and expand our portfolio. Tornado-Related Charges On June 13, 2018, a tornado hit our shopping center in Wilkes-Barre, PA, damaging approximately 13% of the property’s gross leasable area. During the year ended December 31, 2019, the Company settled the related insurance claim with its carrier for $5.5 million. Of this amount, the Company recognized $4.8 million as a casualty gain during the year ended December 31, 2019 included in casualty and impairment loss, net on the accompanying consolidated statements of income. As part of the settlement, the Company recognized $0.3 million as business interruption proceeds within rental revenue during the year ended December 31, 2019. Hurricane-Related Charges On September 20, 2017, Hurricane Maria damaged our two properties in Puerto Rico. During the year ended December 31, 2018, the Company received $1.5 million in casualty insurance proceeds, which were partially offset by $0.3 million of hurricane-related costs, resulting in net casualty gains of $1.2 million included in casualty and impairment loss, net on the accompanying consolidated statements of income. During the year ended December 31, 2018, the Company recognized $0.3 million of business interruption losses, comprised of $0.7 million of rent abatements due to tenants that had not reopened since the hurricane, recorded as a reduction of rental revenue, offset by a $0.4 million reversal within property operating expenses to provision for doubtful accounts for payments received from tenants on rents previously reserved. In June 2019, the Company finalized its insurance recovery related to Hurricane Maria with its carrier at $14.3 million, of which $3.3 million was previously received, subject to deductibles of $2.3 million. We recognized a $8.7 million casualty gain during the year ended December 31, 2019 based on i nsurance proceeds received from the settlement agreement on our two malls in Puerto Rico. 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 $1.8 million and $2.7 million on our consolidated balance sheets as of December 31, 2020 and December 31, 2019, respectively, for remediation costs for environmental contamination at certain properties. While this accrual reflects third-party estimates of the potential costs of remediation at these properties, there can be no assurance that the actual costs will not exceed these amounts. During the years ended December 31, 2019 and 2018, the Company recognized $1.4 million and $0.6 million, respectively, of environmental remediation costs included in property operating expenses on the consolidated statements of income. 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. Pandemic-Related Contingencies On January 30, 2020, the spread of the COVID-19 outbreak was declared a Public Health Emergency of International Concern by the World Health Organization ("WHO"). On March 11, 2020, WHO characterized the COVID-19 outbreak as a pandemic. Since March, the continually evolving COVID-19 pandemic impacted our tenants and business operations. The Company has taken precautions to protect the safety, health and well-being of its employees and tenants. During 2020, many of our tenants faced adverse financial consequences from reduced business operations and social distancing requirements resulting from the COVID-19 pandemic. As of December 31, 2020, substantially all of our portfolio's gross leasable area was open for business and the Company collected approximately 91% of rental revenue for the fourth quarter, 87% for the third quarter and 79% for the second quarter. Throughout 2020, the Company granted rent concessions and other lease-related relief, such as rent deferrals, to certain impacted tenants, and anticipates granting further rent concessions or other relief going forward. We valuate rent relief requests on a case-by-case basis and not all requests are granted. Rent relief, deferral or abatements and tenant defaults on lease obligations, such as repayment of deferred rent may have a negative impact on our rental revenue and net income. As of December 31, 2020, the Company executed rent deferrals aggregating $5.1 million with a weighted average payback period of approximately eight months. Additionally, as of December 31, 2020, the Company executed rent abatements aggregating $3.9 million. The Company is not currently aware of any other loss contingencies related to the COVID-19 pandemic that would require recognition at this time, with the exception of abatements already discussed with tenants or deferrals that may not be collected. Bankruptcies Although our rental revenue is supported by long-term leases, leases may be rejected in a bankruptcy proceeding and the related tenant stores may permanently vacate prior to lease expiration. In the event a tenant with a significant number of leases or square footage in our shopping centers files for bankruptcy and rejects its leases with us, we could experience a reduction in our revenues. We monitor the operating performance and rent collections of all tenants in our shopping centers, especially those tenants in arrears or operating retail formats that are experiencing significant changes in competition, business practice, or store closings in other locations. Given the economic environment brought upon by COVID-19, certain tenants experienced liquidity or financial hardships and filed for Chapter 11 bankruptcy protection during the year ended December 31, 2020. Although some of these tenants intend to exit the Chapter 11 bankruptcy process and resume operations, the outcomes of such proceedings are unknown and the Company is currently exploring leasing alternatives for these spaces. Century 21 filed for Chapter 11 bankruptcy protection on September 10, 2020. Prior to bankruptcy, the Company had one lease with Century 21 in Paramus, NJ comprising approximately 157,000 sf, which generated $4.4 million in annual rental revenue. In connection with the bankruptcy, the Company recognized a write-off of $2.5 million in receivables arising from the straight-lining of rents, and r ecognized

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) December 31, 2020 December 31, 2019 Other assets $ 5,953 $ 4,723 Deferred tax asset, net 39,677 — Real estate held for sale 7,056 6,574 Finance lease right-of-use asset 2,724 2,737 Deferred financing costs, net of accumulated amortization of $4,819 and $3,765, respectively 3,347 3,877 Deposits for acquisitions — 10,000 Prepaid expenses: Real estate taxes 8,093 6,491 Insurance 1,583 1,520 Rent, licenses/fees 1,878 1,655 Total Prepaid expenses and other assets $ 70,311 $ 37,577

ACCOUNTS PAYABLE, ACCRUED EXPEN

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES The following is a summary of the composition of accounts payable, accrued expenses and other liabilities in the consolidated balance sheets: Balance at (Amounts in thousands) December 31, 2020 December 31, 2019 Dividend payable $ 55,905 $ — Deferred tenant revenue 26,594 26,224 Accrued capital expenditures and leasing costs 7,797 7,893 Finance lease liability 2,993 2,982 Accrued interest payable 11,095 9,729 Security deposits 5,884 5,814 Deferred tax liability, net — 5,137 Accrued payroll expenses 5,797 5,851 Other liabilities and accrued expenses 16,915 13,014 Total accounts payable, accrued expenses and other liabilities $ 132,980 $ 76,644

INTEREST AND DEBT EXPENSE

INTEREST AND DEBT EXPENSE	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
INTEREST AND DEBT EXPENSE	13. INTEREST AND DEBT EXPENSE The following table sets forth the details of interest and debt expense: Year Ended December 31, (Amounts in thousands) 2020 2019 2018 Interest expense $ 68,184 $ 63,783 $ 61,989 Amortization of deferred financing costs 2,831 2,856 2,879 Total Interest and debt expense $ 71,015 $ 66,639 $ 64,868

EQUITY AND NONCONTROLLING INTER

EQUITY AND NONCONTROLLING INTEREST	12 Months Ended
	Dec. 31, 2020
Noncontrolling Interest [Abstract]
EQUITY AND NONCONTROLLING INTEREST	EQUITY AND NONCONTROLLING INTEREST Share Repurchase Program In March 2020, the Company’s Board of Trustees authorized a share repurchase program for up to $200 million of the Company’s common shares. Under the program, the Company may repurchase its shares from time to time in the open market or in privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18. The amount and timing of the purchases will depend on a number of factors including the price and availability of the Company’s shares, trading volume and general market conditions. The share repurchase program does not obligate the Company to acquire any particular amount of common shares and may be suspended or discontinued at any time at the Company’s discretion. Cumulative total purchases during the year ended December 31, 2020 amounted to 5.9 million shares at a weighted average share price of $9.22 amounting to $54.1 million. Units of the Operating Partnership An equivalent number of common units were issued by the Operating Partnership to the Company in connection with the Company’s issuance of common shares of beneficial interest under the ATM equity program. The Operating Partnership’s capital includes general and common limited partnership interests in the operating partnership (“OP Units”). As of December 31, 2020, Urban Edge owned approximately 96.1% of the outstanding common OP Units with the remaining limited OP Units held by members of management, Urban Edge’s Board of Trustees and contributors of property interests acquired. Urban Edge serves as the sole general partner of the Operating Partnership. The third-party unitholders have limited rights over the Operating Partnership such that they do not have characteristics of a controlling financial interest. As such, the Operating Partnership is considered a 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 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. During the years ended December 31, 2019 and 2018, the Company declared distributions on our common shares and OP units of $0.88 per share/unit in the aggregate. We have a Dividend Reinvestment Plan (the “DRIP”), whereby shareholders may use their dividends to purchase shares. During the years ended December 31, 2020 and 2019, 3,445 and 6,920 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 4.1% weighted-average interest in the Operating Partnership for the year ended December 31, 2020. 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. On August 5, 2019, the Company received requests from certain holders of OP units to redeem 357,998 units. The Company elected to satisfy the redemption requests by repurchasing the units at a price of $16.70 per unit, for total cash consideration of $6.0 million. In connection with the separation from Vornado Realty L.P. (“VRLP”), the Company issued 5.7 million OP units, which represented a 5.4% interest in the Operating Partnership, to VRLP in exchange for interests in VRLP properties contributed by VRLP. On February 28, 2019, the Company issued 5.7 million common shares to VRLP, in exchange for an equal number of OP units after receiving a notice of redemption from VRLP. The issuance is exempt from registration in reliance upon Section 4(a)(2) of the Securities Act of 1933, as amended, on the basis that no public offering was made. Noncontrolling 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, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE AND UNIT	EARNINGS PER SHARE AND UNIT Urban Edge Earnings per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of Urban Edge common shares and participating securities is calculated according to dividends declared and participating rights in undistributed earnings. Restricted shares issued pursuant to our share-based compensation program are considered participating securities, and as such have non-forfeitable rights to receive dividends. The 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, 2020, 2019 and 2018, there were options outstanding for 4,930,762, 4,930,762, and 4,750,549 shares, respectively, that potentially could be exercised for common shares. During the years ended December 31, 2020, 2019 and 2018, no o ptions 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, 2020 there were 72,393 unvested restricted shares outstanding that potentially could become unrestricted common shares. The computation of diluted EPS for the years ended December 31, 2020, 2019 and 2018 included the 77,289, 100,406, and 188,329 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) 2020 2019 2018 Numerator: Net income attributable to common shareholders $ 93,589 $ 109,523 $ 105,150 Less: Earnings allocated to unvested participating securities (62) (92) (184) Net income available for common shareholders - basic $ 93,527 $ 109,431 $ 104,966 Impact of assumed conversions: OP and LTIP units 81 5 — Net income available for common shareholders - dilutive $ 93,608 $ 109,436 $ 104,966 Denominator: Weighted average common shares outstanding - basic 117,722 119,751 113,863 Effect of dilutive securities: Stock options using the treasury stock method — — — Restricted share awards 77 100 188 Assumed conversion of OP and LTIP units 103 45 — Weighted average common shares outstanding - diluted 117,902 119,896 114,051 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.79 $ 0.91 $ 0.92 Earnings per common share - Diluted $ 0.79 $ 0.91 $ 0.92 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) 2020 2019 2018 Numerator: Net income attributable to unitholders $ 97,749 $ 116,222 $ 116,918 Less: net income attributable to participating securities (62) (92) (200) Net income available for unitholders $ 97,687 $ 116,130 $ 116,718 Denominator: Weighted average units outstanding - basic 121,957 126,333 126,198 Effect of dilutive securities issued by Urban Edge 77 100 188 Unvested LTIP units 777 45 — Weighted average units outstanding - diluted 122,811 126,478 126,386 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.80 $ 0.92 $ 0.92 Earnings per unit - Diluted $ 0.80 $ 0.92 $ 0.92

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
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, 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. Outperformance Plans The Compensation Committee of the Board of Trustees of the Company approved the Company’s 2015 Outperformance Plan (“2015 OPP”) on November 3, 2015 and the Company’s 2017 Outperformance Plan (“2017 OPP”) on February 24, 2017. Both Outperformance Plans are multi-year, performance-based equity compensation plans 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 outperform a predetermined total shareholder return (“TSR”) and/or outperform the market with respect to a relative TSR over the three-year period beginning on the date the respective plan was approved. The aggregate notional amounts of the 2015 OPP grant and the 2017 OPP grant are $10.2 million and $12.0 million, respectively. Awards under the 2015 OPP and the 2017 OPP may be earned if we (i) achieve a TSR level greater than 7% per annum, or 21% over the three-year performance measurement period, and/or (ii) achieve a TSR equal to or above, that of the 50 th percentile of a retail REIT peer group (“Peer Group”) comprised of our peer companies, over a three-year performance measurement period. Distributions on awards accrue during the measurement period, except that 10% of such distributions are paid in cash. If the designated performance objectives are achieved, LTIP units are also subject to time-based vesting requirements. Awards earned under the 2015 OPP and the 2017 OPP vest 50% in year three, 25% in year four and 25% in year five. The fair values of the 2015 OPP and the 2017 OPP on the dates of grant were $3.9 million and $4.1 million, respectively. A Monte Carlo simulation was used to estimate the fair values based on the probability of satisfying the market conditions and the projected share prices at the time of payments, discounted to the valuation dates over the three-year performance periods. For the 2015 OPP, assumptions include historical volatility (25.0%), risk-free interest rates (1.2%), and historical daily return as compared to our Peer Group (which ranged from 19.0% to 27.0%). For the 2017 OPP, assumptions include historical volatility (19.7%), risk-free interest rates (1.5%), and historical daily return as compared to our Peer Group. For both plans, such amounts are being amortized into share-based compensation expense over a five-year period from the dates of grant, using graded vesting attribution models. The 2015 OPP was fully vested as of November 5, 2020 and there is no compensation cost remaining under the 2015 OPP as of December 31, 2020. In the years ending December 31, 2020, 2019, and 2018 we recognized $0.6 million, $1.4 million and $1.7 million of compensation expense related to the 2015 and 2017 OPPs’ LTIP Units, respectively. As of December 31, 2020, there was $0.2 million of total unrecognized compensation cost related to the 2017 OPP LTIP Units, which will be recognized over a weighted-average period of 0.5 years. 2018 Long-Term Incentive Plan On February 22, 2018, the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2018 Long-Term Incentive Plan ("2018 LTI Plan") under the Omnibus Share Plan, a multi-year equity compensation program, comprised of both performance-based and time-based vesting awards. Equity awards granted under the 2018 LTI Plan are weighted, in terms of grant date and fair value, 80% performance-based and 20% time-based. For the performance-based awards under the 2018 LTI Plan, participants have the opportunity to earn awards in the form of LTIP Units if, and only if, Urban Edge’s absolute and/or relative total shareholder return (“TSR”) meets certain criteria over the three-year performance measurement period (the “Performance Period”) beginning on February 22, 2018 and ending on February 21, 2021. The Company issued 328,107 LTIP Units under the 2018 LTI Plan. Under the Absolute TSR component (25% of the performance-based awards), 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 18%, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to 27%, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or greater than 36%. The Relative TSR component is based on the Company’s performance compared to a peer group comprised of 14 companies. Under the Relative TSR Component (75% of the performance-based awards), 40% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 35 th percentile of the peer group, 100% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to the 55 th percentile of the peer group, and 165% of the LTIP Units will be earned if the Company’s TSR over the Performance Period is equal to or above the 75 th percentile of the peer group, with earning determined using linear interpolation if between such relative TSR thresholds. The fair value of the performance-based award portion of the 2018 LTI Plan on the date of grant was $3.6 million using a Monte Carlo simulation to estimate the fair value through a risk-neutral premise. The time-based awards under the 2018 LTI Plan, also granted in the form of LTIP Units, vest ratably over three years 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 2018 LTI Plan that represent 33,172 LTIP units with a grant date fair value of $0.7 million. During the years ended December 31, 2020, 2019 and 2018, respectively, we recognized $1.0 million, $0.9 million and $1.0 million of compensation expense related to the 2018 LTI Plan. 2018 Inducement Equity Plan The Inducement Plan was approved by the Compensation Committee of the Board of Trustees of the Company on September 26, 2018. 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. 2019 Long-Term Incentive Plan On April 4, 2019, the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2019 Long-Term Incentive Plan (“2019 LTI Plan”). The Plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units that vest based on the passage of time (one-third of the program) and performance goals tied to our relative and absolute total shareholder return (“TSR”) during the three-year performance period following their grant (two-thirds of the program). For the performance-based awards under the 2019 LTI Plan, participants have the opportunity to earn awards in the form of LTIP Units if, and only if, Urban Edge’s absolute and/or relative TSR meets certain criteria over the three-year performance measurement period (the “Performance Period”) beginning on February 27, 2019 and ending on February 26, 2022. The Company issued 489,319 LTIP Units under the 2019 LTI Plan. 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 between such relative and absolute TSR thresholds. The fair value of the performance-based award portion of the 2019 LTI Plan on the date of grant was $4.3 million using a Monte Carlo simulation to estimate the fair value through a risk-neutral premise. The time-based awards under the 2019 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 2019 LTI Plan that represent 112,910 LTIP units with a grant date fair value of $2.0 million. During the years ended December 31, 2020 and 2019, respectively we recognized $1.9 million and $1.4 million of compensation expense related to the 2019 LTI Plan. 2020 Long-Term Incentive Plan On February 20, 2020, the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2020 Long-Term Incentive Plan (“2020 LTI Plan”). The Plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units that vest based on (i) the passage of time (one-third of the fair value of the program) and (ii) performance goals tied to our relative and absolute total shareholder return (“TSR”) during the three-year performance period following their grant (two-thirds of the fair value of the program). The total grant date fair value under the 2020 LTI Plan was $8.8 million comprising performance-based and time-based awards as described further below: 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 measurement period (the “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. 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 year ended December 31, 2020 we recognized $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. As of December 31, 2020, 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 year ended December 31, 2020 we recognized $1.1 million of compensation expense related to the time-based awards under the 2020 LTI Plan. Units and Deferred Share Units Granted to Trustees On May 6, 2020, certain trustees elected to receive a portion of their compensation in deferred share units and an aggregate of 12,121 shares were granted to those trustees based on the weighted average grant date fair value of $8.25. On May 9, 2019, certain trustees elected to receive a portion of their compensation in deferred share units and an aggregate of 5,608 shares were granted to those trustees based on the weighted average grant date fair value of $15.60. On May 6, 2020 certain trustees elected to receive a portion of their compensation in LTIP units and an aggregate of 87,117 LTIP units, were granted to those trustees based on the weighted average grant date fair value of $8.03. In addition, On May 9, 2019, certain trustees elected to receive a portion of their compensation in LTIP units and an aggregate of 28,040 LTIP units, were granted to those trustees based on the weighted average grant date fair value of $14.98. 2021 Long-Term Incentive Plan On February 10, 2021, the Compensation Committee of the Board of Trustees of the Company approved the Company’s 2021 Long-Term Incentive Plan (“2021 LTI Plan”). The Plan is a multi-year, equity compensation program under which participants, including our Chairman and Chief Executive Officer, have the opportunity to earn awards in the form of LTIP units that vest based on the passage of time (one-half of the program) and performance goals tied to our relative and absolute total shareholder return (“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. Shares Under Option All stock options granted have ten-year contractual lives, containing vesting terms of three Shares Under Options Weighted Average Exercise Price per Share Weighted Average Remaining Expected Term (In years) Outstanding at January 1, 2018 2,603,664 $ 24.09 4.40 Granted 2,146,885 21.71 4.58 Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2018 4,750,549 23.02 4.48 Granted 180,213 19.53 3.88 Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2019 4,930,762 22.89 4.46 Granted — — — Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2020 4,930,762 $ 22.89 4.07 Exercisable at December 31, 2020 3,709,097 $ 23.31 — No options were granted during the year ended December 31, 2020. The weighted average grant date fair value of options granted in 2019 and 2018 was $3.88 and $4.68, respectively. The options were granted with an exercise price equivalent to the average of the high and low share price on the grant date. No options were exercised during the years ended December 31, 2018, 2019 and 2020. As of December 31, 2020, there was no intrinsic value for the outstanding and exercisable shares under option. During the years ended December 31, 2019 and 2018, the fair value of the options granted was estimated on the grant date using the Black-Scholes pricing model with the following assumptions: February 22, 2018 September 27, 2018 February 27, 2019 Risk-free interest rate 2.73% 3.00% 2.54% Expected option life 6.25 7.00 6.25 Expected volatility 32.23% 30.42% 30.98% Restricted Shares The following table presents information regarding restricted share activity during the years ended December 31, 2020, 2019, and 2018: Shares Weighted Average Grant Date Fair Value per Share Unvested at January 1, 2018 175,430 $ 26.05 Granted 103,814 21.65 Vested (84,185) 25.67 Forfeited (32,482) 23.32 Unvested at December 31, 2018 162,577 23.99 Granted 34,638 19.15 Vested (96,378) 24.19 Forfeited (5,672) 22.11 Unvested at December 31, 2019 95,165 22.16 Granted 31,679 17.47 Vested (51,524) 23.88 Forfeited (2,927) 18.79 Unvested at December 31, 2020 72,393 $ 19.03 During the years ended December 31, 2020, 2019 and 2018, we granted 31,679, 34,638, and 103,814 restricted shares, respectively, that are subject to forfeiture and vest over periods ranging from one Restricted Units During the years ended December 31, 2020, 2019 and 2018, respectively, there were 297,195, 276,482 and 444,954 additional LTIP units issued. During the years ended December 31, 2020, 2019 and 2018, 433,016, 131,884, and 24,722 units vested, respectively. During the year ended December 31, 2020, 223,553 restricted units were converted to common shares The remaining 568,619 units vest over a weighted average period of 2.4 years. Share-Based Compensation Expense Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 2018 Share-based compensation expense components: Restricted share expense $ 832 $ 1,697 $ 2,051 Stock option expense 4,991 4,055 2,778 LTIP expense (1) 7,331 4,477 2,218 Performance-based LTI expense (2) 3,792 3,164 2,530 DSU expense 48 156 164 Total Share-based compensation expense $ 16,994 $ 13,549 $ 9,741 (1) LTIP expense includes the time-based portion of the 2020, 2019 and 2018 L TI Plans. (2) Performance-based LTI expense include s the 2017 and 2015 OPP p lans and the performance-based portion of the 2020, 2019 and 2018 L TI Plans.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	URBAN EDGE PROPERTIES AND URBAN EDGE PROPERTIES LP SCHEDULE II- VALUATION AND QUALIFYING ACCOUNTS (in thousands) Column A Column B Column C Column D Column E Description Balance Additions Uncollectible Balance Year Ended December 31, 2020: Allowance for doubtful accounts (1) $ — $ — $ — $ — Year Ended December 31, 2019: Allowance for doubtful accounts (1) — — — — Year Ended December 31, 2018: Allowance for doubtful accounts 5,431 4,138 (2,949) 6,620 (1)

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2020
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 19,460 581 22,687 23,268 (8,317) 1968 1968 Bensalem, PA — 2,727 6,698 1,630 2,727 8,328 11,055 (4,488) 1972/ 1999 1972 Bergen Town Center - East, Paramus, NJ — 6,305 6,824 41,700 6,305 48,524 54,829 (11,618) 1957/ 2009 2003/ 2019 Bergen Town Center - West, Paramus, NJ 300,000 22,930 89,358 388,291 43,630 456,949 500,579 (140,346) 1957/ 2009 2003/ 2020 Brick, NJ 50,000 1,391 11,179 14,089 1,391 25,268 26,659 (16,983) 1968 1968 Bronx (Bruckner Boulevard), NY — 66,100 259,503 8,954 61,618 272,939 334,557 (42,036) N/A 2007 Bronx (Shops at Bruckner), NY 10,351 — 32,979 56 — 33,035 33,035 (3,708) N/A 2017 Brooklyn (Kingswood Center), NY 71,696 15,690 76,766 (1,644) 15,690 75,122 90,812 (2,235) N/A 2020 Brooklyn (Kingswood Crossing), NY — 8,150 64,159 35 8,150 64,194 72,344 (1,729) N/A 2020 Bronx (1750-1780 Gun Hill Road), NY 25,172 6,427 11,885 23,410 6,428 35,294 41,722 (11,776) 2009 2005 Broomall, PA — 850 2,171 1,821 850 3,992 4,842 (3,089) 1966 1966 Buffalo (Amherst), NY — 5,743 4,056 16,555 5,107 21,247 26,354 (10,023) 1968 1968 Cambridge (leased through 2033) (3) , MA — — — 97 — 97 97 (17) N/A 2007 Carlstadt (leased through 2050) (3) , NJ — — 16,458 133 — 16,591 16,591 (5,479) N/A 2007 Charleston (leased through 2063) (3) , SC — — 3,634 308 — 3,942 3,942 (1,336) N/A 2006 Cherry Hill (Plaza at Cherry Hill), NJ 28,930 14,602 33,666 (2,916) 14,602 30,750 45,352 (5,329) N/A 2017 Commack (leased through 2021) (3) , NY — — 43 160 — 203 203 (193) N/A 2006 Dewitt (leased through 2041) (3) , NY — — 7,116 — — 7,116 7,116 (2,561) N/A 2006 Rockaway, NJ 27,800 559 6,363 5,340 559 11,703 12,262 (7,476) 1964 1964 East Brunswick, NJ 63,000 2,417 17,169 7,462 2,417 24,631 27,048 (19,259) 1957/ 1957/ East Hanover (200 - 240 Route 10 West), NJ 63,000 2,232 18,241 16,670 2,671 34,472 37,143 (19,280) 1962 1962/ East Hanover (280 Route 10 West), NJ — — — 6,063 — 6,063 6,063 (2,028) N/A 1962/ East Rutherford, NJ 23,000 — 36,727 1,270 — 37,997 37,997 (9,683) 2007 2007 Freeport (Meadowbrook Commons) (leased through 2040) (3) , NY — — — 177 — 177 177 (2) N/A 2005 Freeport (Freeport Commons), NY 43,100 1,231 4,747 4,846 1,593 9,231 10,824 (7,106) 1981 1981 Garfield, NJ 40,300 45 8,068 46,419 44 54,488 54,532 (18,785) 2009 1998 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 Glenolden, PA — 850 1,820 818 850 2,638 3,488 (2,345) 1975 1975 Hackensack, NJ 66,400 692 10,219 7,548 692 17,767 18,459 (11,746) 1963 1963 Hazlet, NJ — 7,400 9,413 (8,078) 5,211 3,524 8,735 (34) N/A 2007 Huntington, NY — 21,200 33,667 9,662 21,200 43,329 64,529 (12,364) N/A 2007 Inwood, NY — 12,419 19,097 3,163 12,419 22,260 34,679 (9,256) N/A 2004 Jersey City (Hudson Commons), NJ 28,586 652 7,495 950 652 8,445 9,097 (4,000) 1965 1965 Jersey City (Hudson Mall), NJ 22,904 15,824 37,593 (3,612) 15,824 33,981 49,805 (5,838) N/A 2017 Kearny, NJ — 309 3,376 17,700 296 21,089 21,385 (6,358) 1938 1959 Lancaster, PA — 3,140 63 2,059 3,140 2,122 5,262 (1,028) 1966 1966 Las Catalinas, Puerto Rico 127,669 15,280 64,370 15,866 15,280 80,236 95,516 (42,663) 1996 2002 Lodi (Washington Street), NJ — 7,606 13,125 (9,262) 3,823 7,646 11,469 (2,984) N/A 2004 Manalapan, NJ — 725 7,189 7,217 1,046 14,085 15,131 (10,083) 1971 1971 Manchester, MO 12,500 4,409 13,756 (6,799) 2,858 8,508 11,366 (417) N/A 2017 Marlton, NJ 37,400 1,611 3,464 14,432 1,454 18,053 19,507 (12,344) 1973 1973 Massapequa, (leased through 2069) (3) , NY — 44,035 3,084 — 44,035 3,084 47,119 — N/A 2020 Middletown, NJ 31,400 283 5,248 2,836 283 8,084 8,367 (6,729) 1963 1963 Millburn, NJ 23,381 15,783 25,837 (246) 15,783 25,591 41,374 (3,772) N/A 2017 Montclair, NJ 7,250 66 419 1,439 448 1,476 1,924 (800) 1972 1972 Montehiedra, Puerto Rico 81,141 9,182 66,751 29,921 9,267 96,587 105,854 (49,711) 1996/ 1997 Morris Plains, NJ — 1,104 6,411 10,363 1,104 16,774 17,878 (7,889) 1961 1985 Mount Kisco, NY 12,952 22,700 26,700 4,218 23,297 30,321 53,618 (8,979) N/A 2007 New Hyde Park (leased through 2029) (3) , NY — — 4 — — 4 4 (4) 1970 1976 Newington, CT — 2,421 1,200 1,641 2,421 2,841 5,262 (1,323) 1965 1965 Norfolk (leased through 2069) (3) , VA — — 3,927 15 — 3,942 3,942 (3,937) N/A 2005 North Bergen (Kennedy Boulevard), NJ — 2,308 636 261 2,308 897 3,205 (658) 1993 1959 North Bergen (Tonnelle Avenue), NJ 100,000 24,978 10,462 66,254 34,473 67,221 101,694 (19,910) 2009 2006 North Plainfield, NJ 25,100 6,577 13,983 790 6,577 14,773 21,350 (5,046) 1955 1989 Paramus (leased through 2033) (3) , NJ — — — 12,569 — 12,569 12,569 (5,537) 1957/ 2003 Queens, NY — 14,537 12,304 4,269 14,537 16,573 31,110 (2,259) N/A 2015 Rochester (Henrietta) (leased through 2056) (3) , NY — — 2,647 1,181 — 3,828 3,828 (3,600) 1971 1971 Rockville, MD — 3,470 20,599 3,101 3,470 23,700 27,170 (9,705) N/A 2005 Revere (Wonderland), MA — 6,323 17,130 (10) 6,323 17,120 23,443 (1,270) N/A 2019 Salem (leased through 2102) (3) , NH — 6,083 — (2,788) 2,994 301 3,295 — N/A 2006 South Plainfield (leased through 2039) (3) , NJ — — 10,044 1,926 — 11,970 11,970 (4,054) N/A 2007 Springfield (leased through 2025) (3) , PA — — — 80 — 80 80 (80) N/A 2005 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 Staten Island, NY — 11,446 21,262 4,971 11,446 26,233 37,679 (11,099) N/A 2004 Totowa, NJ 50,800 120 11,994 4,883 92 16,905 16,997 (14,883) 1957/ 1957 Turnersville, NJ — 900 1,342 4,067 900 5,409 6,309 (2,563) 1974 1974 Union (2445 Springfield Avenue), NJ 45,600 19,700 45,090 — 19,700 45,090 64,790 (15,312) N/A 2007 Union (Route 22 and Morris Avenue), NJ — 3,025 7,470 7,118 3,025 14,588 17,613 (6,040) 1962 1962 Vallejo (leased through 2043) (3) , CA — — 2,945 221 — 3,166 3,166 (1,276) N/A 2006 Walnut Creek (1149 South Main Street), CA — 2,699 19,930 (1,003) 2,699 18,927 21,626 (2,890) N/A 2006 Walnut Creek (Mt. Diablo), CA — 5,909 — 1,351 5,908 1,352 7,260 (285) N/A 2007 Watchung, NJ 26,613 4,178 5,463 2,751 4,441 7,951 12,392 (6,338) 1994 1959 Westfield, NJ 4,730 5,728 4,305 (4,459) 3,349 2,225 5,574 (93) N/A 2017 Wheaton (leased through 2060) (3) , MD — — 5,367 — — 5,367 5,367 (1,912) N/A 2006 Wilkes-Barre (461 - 499 Mundy Street), PA — 6,053 26,646 (16,304) 3,047 13,348 16,395 (102) N/A 2007 Woodbridge (Woodbridge Commons), NJ 22,100 1,509 2,675 5,542 1,539 8,187 9,726 (3,700) 1959 1959 Woodbridge (Plaza at Woodbridge), NJ 55,340 21,547 75,017 2,370 19,218 79,716 98,934 (7,916) N/A 2017 Wyomissing (leased through 2065) (3) , PA — — 2,646 403 — 3,049 3,049 (2,629) N/A 2005 Yonkers, NY 28,482 63,341 110,635 16,052 65,941 124,087 190,028 (14,717) N/A 2017 INDUSTRIAL: East Hanover, NJ 40,700 576 7,752 31,081 691 38,718 39,409 (20,571) 1972 1972 Lodi (Route 17 North), NJ — 238 9,446 916 238 10,362 10,600 (5,016) 1999 1975 TOTAL UE PROPERTIES 1,597,397 556,916 1,533,055 849,830 568,662 2,371,139 2,939,801 (728,947) Leasehold Improvements, — — — 7,016 — 7,016 7,016 (1,419) TOTAL $ 1,597,397 $ 556,916 $ 1,533,055 $ 856,846 $ 568,662 $ 2,378,155 $ 2,946,817 $ (730,366) (1) Depreciation of the buildings and improvements are calculated over lives ranging from the life of the lease to forty years. (2) Adjusted tax basis for federal income tax purposes was $1.5 billion as of December 31, 2020. (3) The Company is a lessee under a ground or building lease. The building will revert to the lessor upon lease expiration. 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, 2020 2019 2018 Real Estate Balance at beginning of period $ 2,748,785 $ 2,768,992 $ 2,671,854 Additions during the period: Land 68,536 13,441 4,120 Buildings & improvements 145,800 31,806 12,394 Construction in progress 27,550 61,641 118,389 2,990,671 2,875,880 2,806,757 Less: Impairments, assets sold, written-off or reclassified as held for sale (43,854) (127,095) (37,765) Balance at end of period $ 2,946,817 $ 2,748,785 $ 2,768,992 Accumulated Depreciation Balance at beginning of period $ 671,946 $ 645,872 $ 587,127 Additions charged to operating expenses 81,691 80,774 80,578 753,637 726,646 667,705 Less: Accumulated depreciation on assets written-off (23,271) (54,700) (21,833) Balance at end of period $ 730,366 $ 671,946 $ 645,872

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for 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, 2020, 2019 and 2018 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 underway and ends when the project is substantially complete. Depreciation is recognized on a straight-line basis over estimated useful lives which range from one 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.
Real Estate Held for Sale	Real Estate Held For Sale — When a real estate asset is identified by management as held for sale, we cease depreciation of the asset and estimate its fair value, net of estimated costs to sell. If the estimated fair value, net of estimated costs to sell, of an asset is less than its net carrying value, an impairment charge is recorded to reflect the estimated fair value. The Company classifies properties as held for sale when executed contract contingencies have been satisfied, which signify that the sale is legally binding.
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 consists of (i) deposits at major commercial banks, 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 —
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. In light of the recent and ongoing COVID-19 pandemic, the Company is closely monitoring changes in the collectibility assessment of its tenant receivables as a result of certain tenants suffering adverse financial consequences. We recognize changes in the collectibility assessment of these operating leases as adjustments to rental revenue in accordance with ASC 842 Leases . Management exercises judgment in assessing collectibility and considers payment history, current credit status and publicly available information about the financial condition of the tenant, among other factors. Tenant receivables, including receivables arising from the straight-lining of rents, are written-off directly when management deems that the collectibility of substantially all future lease payments from a specific lease is not probable for collection, 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. In addition, future revenue recognition is limited to amounts paid by the lessee. We will generally return to an accrual basis of accounting, if and when, collectability of substantially all the remaining contractual lease payments is reasonably probable. During the year ended December 31, 2020, rental revenue deemed uncollectible of $27.9 million was classified as a reduction to rental revenue based on our assessment of the probability of collecting substantially all of the remaining rents for certain tenants. Additionally, during the year ended December 31, 2020 we recognized write-offs of $12.0 million related to receivables arising from the straight-lining of rents as a result of tenants impacted by the COVID-19 pandemic.
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.
Deferred Financing Costs	Deferred Financing Costs — Deferred financing costs include fees associated with our revolving credit agreement. Such fees are amortized on a straight-line basis over the terms of the related revolving credit agreement 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 for fiscal periods prior to January 1, 2019: Rental revenue comprises revenue from property rentals and tenant expense reimbursements, as designated within tenant operating leases in accordance with ASC 840 Leases . ◦ Property Rentals: We generate revenue from minimum lease payments from tenant operating leases. These rents are recognized over the noncancelable terms of the related leases on a straight-line basis which includes the effects of rent steps and rent abatements under the leases in accordance with ASC 840. We satisfy our performance obligations over time, under the noncancelable lease term, commencing when the tenant takes possession of the leased space and the leased space is substantially ready for its intended use. In addition, in circumstances where we provide a lease incentive to tenants, we recognize the incentive as a reduction of rental revenue on a straight-line basis over the remaining term of the lease. The underlying leased asset remains on our consolidated balance sheet and continues to depreciate. In addition to minimum lease payments, certain rental income derived from our tenant leases is contingent and dependent on percentage rent. 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. ◦ Tenant expense reimbursements: In accordance with ASC 840, revenue arises from tenant leases, which provide for the recovery of all or a portion of the operating expenses, real estate taxes and capital improvements of the respective property. This revenue is accrued in the period the expenses are incurred. • Rental revenue for fiscal periods beginning on or after January 1, 2019: 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. 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 1,100 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, 2020 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 $2.4 million and $4.1 million for the years ended December 31, 2020 and 2019, 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 $96.7 million and $105.3 million for the years ended December 31, 2020 and 2019, respectively. The Company accounts for variable lease payments as "Rental revenue" on the consolidated statement of 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 22 properties in its portfolio either completely or partially on land or 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 less than two years to over 80 years and provide us the right to operate each such property. We also lease or sublease real estate for our three corporate offices with remaining terms of less than one year. Right-of-use ("ROU") assets are recorded for these leases, which represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from these leases. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The initial measurement of a ROU asset may differ from the initial measurement of the lease liability due to initial direct costs, prepaid lease payments and lease incentives. As of December 31, 2020, no other contracts 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.
Leases, lessee	Leases — We have approximately 1,100 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, 2020 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 $2.4 million and $4.1 million for the years ended December 31, 2020 and 2019, 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 $96.7 million and $105.3 million for the years ended December 31, 2020 and 2019, respectively. The Company accounts for variable lease payments as "Rental revenue" on the consolidated statement of 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 22 properties in its portfolio either completely or partially on land or 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 less than two years to over 80 years and provide us the right to operate each such property. We also lease or sublease real estate for our three corporate offices with remaining terms of less than one year. Right-of-use ("ROU") assets are recorded for these leases, which represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from these leases. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The initial measurement of a ROU asset may differ from the initial measurement of the lease liability due to initial direct costs, prepaid lease payments and lease incentives. As of December 31, 2020, no other contracts 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 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 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 which do not have the obligation to absorb expected losses, do not have the right to receive expected residual returns, or do not have the characteristics of a controlling financial interest 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, 2020. 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, 2020. The majority of the operations of these VIEs are funded with cash flows generated by the property.
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.
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. With the exception of the Company’s TRS, to the extent the Company meets certain requirements under the Code, the Company will not be taxed on its federal taxable income. If we fail to qualify as a REIT for any taxable year, we will be subject to federal income taxes at regular corporate rates (including any alternative minimum tax, which, for corporations, was repealed under the TCJA for tax years beginning after December 31, 2017) and may not be able to qualify as a REIT for the four subsequent taxable years. In addition to its TRS, 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. 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 —
Recently Issued Accounting Literature	Recently Issued Accounting Literature Effective for the fiscal period beginning January 1, 2019, we adopted (“ASU 2016-02”) ASC 842 Leases, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). In connection with the adoption of ASU 2016-02, we also adopted (i) ASU 2019-01 Leases (ASC 842): Codification Improvements , (ii) ASU 2018-20 Leases (ASC 842): Narrow-Scope Improvements for Lessors , (iii) ASU 2018-11 Leases (ASC 842): Targeted Improvements , (iv) ASU 2018-10 Codification Improvements to ASC 842, Leases and (v) ASU 2018-01 Leases (ASC 842): Land Easement Practical Expedient for Transition to Topic 842. We initially applied the standard at the beginning of the period of adoption through the transition method issued by ASU 2018-11 and have presented comparative periods under ASC 840 Leases . Due to the effects of applying ASC 842, the Company recognized a $2.9 million cumulative-effect adjustment to its accumulated deficit in the year ended December 31, 2019 to adjust r eserves on receivables from straight-line rents . The new standard requires lessees to apply a two-model approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification determines whether lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. The Company has elected the short-term lease recognition exemption, and therefore, leases with a term of 12 months or less are not recognized on the balance sheet. The new standard requires lessors to account for leases using an approach that is substantially equivalent to guidance for sales-type leases, direct financing leases and operating leases under ASC 840. For purposes of transition, we did not elect the hindsight practical expedient but did elect the land easement practical expedient to not reassess whether existing land easements contain leases and the practical expedient package, which has been applied consistently to all of our leases. As a result of electing the practical expedient package, we did not (i) reassess whether any expired or existing contracts are or contain leases, (ii) reassess the lease classification for any expired or existing leases or (iii) reassess initial direct costs for any existing leases. From a lessee perspective, the initial adoption on January 1, 2019 resulted in the recognition of operating lease ROU assets and lease liabilities for 24 operating leases with an aggregate balance of $98.5 million and $93.6 million, respectively. On January 1, 2019, we also reclassified $11.9 million of acquired below-market lease intangibles and $7.1 million of accrued rent and adjusted the carrying values of our ROU assets by the corresponding amounts. As of December 31, 2020, the Company had 26 operating leases and our operating lease ROU assets and lease liabilities were $81.0 million and $75.0 million, respectively, as presented on our consolidated balance sheet. Subsequent to adoption, the Company recognized a finance lease in connection with the Company acquiring the lessee position of a ground lease in 2019. As of December 31, 2020, our finance lease ROU asset and finance lease liability were $2.7 million and $3.0 million, respectively. The finance lease ROU asset is included within prepaid expenses and other assets on our consolidated balance sheets as of December 31, 2020 and 2019 and the finance lease liability is included within accounts payable, accrued expenses and other liabilities on our consolidated balance sheets as of December 31, 2020 and 2019. The Company recognizes interest expense on its finance lease liability. The standard's adoption has also impacted the presentation of our consolidated income statement due to accounting for the lease and non-lease components as a single lease component for all classes of underlying assets, presented as lease expense on the consolidated statement of income. Prior to the adoption of ASC 842, related lease and non-lease expense amounts were recognized within lease expense, real estate taxes, property operating expenses and general administrative expenses on the consolidated statement of income. From a lessor perspective, the adoption resulted in additional general and administrative expenses, attributable to internal leasing department costs not meeting the definition of initial direct costs under ASC 842. The standard's adoption has also impacted the presentation of our consolidated income statement due to accounting for lease and non-lease components as a single lease component, presented as rental revenue on the consolidated statement of income, however there has been no change in the timing of revenue recognition since adoption. Additionally, under the amendments issued in ASU 2018-20, the Company has accounted for common area maintenance expenses paid directly by tenants to third-parties as variable rental revenue and has reported the corresponding expense within property operating expenses. Real estate taxes and insurance expenses paid directly by tenants have not been recognized as rental revenue or as expenses on the consolidated statements of income. The adoption of this standard has also resulted in additional quantitative and qualitative footnote disclosures (refer to Note 8 Leases to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K). Effective for the fiscal period beginning January 1, 2020, we adopted ASU 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses . In connection with the adoption of ASU 2016-03, we also adopted (i) ASU 2018-19 Codification Improvements to ASC 326, Financial Instruments - Credit Losses, (ii) ASU 2019-04, Codification Improvements to ASC 326, Financial Statements - Credit Losses, Topic 815, Derivatives and Hedging and Topic 825, Financial Instruments , ( iii) ASU 2019-05 Financial Instruments - Credit Losses (ASC 326): Targeted Transition Relief and (iv) ASU 2019-11 Codification Improvements to ASC 326, Financial Instruments - Credit Losses. ASU 2016-13 introduces a new model for estimating credit losses for certain types of financial instruments and also modifies the impairment model with new methodology for estimating credits losses. In November 2018, the FASB issued ASU 2018-19 Codification Improvements to Topic 326, Financial Instruments — Credit Losses , which included amendments to clarify receivables arising from operating leases are within the scope ASC 842 Leases . Due to the adoption of ASC 842 on January 1, 2019, the Company includes rental revenue deemed uncollectible as a reduction to rental revenue in the consolidated statements of income . As of December 31, 2020, the Company did not have any material outstanding financial instruments. The adoption of ASU 2016-13 has had no impact to our consolidated financial statements and disclosures. In August 2018, the FASB issued ASU 2018-13 Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement to ASC 820, Fair Value Measurement . ASU 2018-13 modifies the disclosure requirements for fair value measurements by removing, modifying, and/or adding certain disclosures. ASU 2018-13 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2019. We elected to early adopt ASU 2018-13 effective January 1, 2019. The adoption of ASU 2018-13 did not have a material impact on our consolidated financial statements and disclosures. In December 2019, the FASB issued ASU 2019-12 Income Taxes (ASC 740): Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects of the income tax accounting. ASU 2019-12 is effective for interim and annual reporting periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. We adopted ASU 2019-12 effective January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on our consolidated financial statements and disclosures. In March 2020, the FASB issued ASU 2020-04 Reference Rate Reform (ASC 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. ASU 2020-04 is effective for all entities as of March 12, 2020 through December 31, 2022. We currently do not anticipate the need to modify our existing debt agreements as a result of reference rate reform in the current year, however if any modification is executed as a result of reference rate reform, the Company will elect the optional expedient available under ASU 2020-04, which allows entities to account for the modification as if the modification was not substantial. We will disclose the nature of and reason for electing the optional expedient in each interim and annual financial statement period if and when applicable through December 31, 2022. In April 2020, the FASB issued a question-and-answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of COVID-19. Under existing lease guidance, the Company would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated with the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A clarifies that entities may elect 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 has evaluated its election on a disaggregated basis, with such election applied consistently to leases with similar characteristics and similar circumstances. As of December 31, 2020, the Company granted rent deferrals with an aggregate deferral amount of $5.1 million, with $4.5 million accounted for under the receivable approach by electing the Lease Modification Q&A and $0.6 million accounted for as modifications due to term extensions of the leases. The Company also granted abatements aggregating $3.9 million as of December 31, 2020, with $0.4 million accounted for under the variable approach and $3.5 million accounted for as modifications due to the executed agreements including other rental term modifications, such as term extensions and substantial changes in cash flows. The Company remains in active discussions with its impacted tenants to grant further concessions. The full future impact of the Lease Modification Q&A is dependent upon the extent of lease concessions granted to tenants as a result of COVID-19 and the elections made by the Company at the time of entering into such concessions. Refer to Note 10 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K.

ACQUISITIONS AND DISPOSITIONS (

ACQUISITIONS AND DISPOSITIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Closed Acquisitions	During the years ended December 31, 2020 and December 31, 2019, we closed on the following acquisitions: Date Purchased Property Name City State Square Feet Purchase Price (in thousands) February 12, 2020 Kingswood Center Brooklyn NY 130,000 $ 90,212 February 12, 2020 Kingswood Crossing Brooklyn NY 110,000 77,077 December 11, 2020 51 East Spring Valley Ave Maywood NJ 3,000 662 December 31, 2020 Sunrise Mall Massapequa NY 1,211,000 31,545 2020 Total $ 199,496 (1) November 1, 2019 25 East Spring Valley Ave Maywood NJ 43,800 $ 7,162 November 8, 2019 Wonderland Marketplace Revere MA 139,500 24,209 December 9, 2019 150 Route 4 East Paramus NJ 12,000 7,118 2019 Total $ 38,489 (1)
Schedule of Aggregate Purchase Price Allocations	The aggregate purchase price of the above property acquisitions has been allocated as follows: Property Name Land Buildings and improvements Identified intangible assets (1) Identified intangible liabilities (1) Debt Premium ROU assets net of lease liabilities Other assets, net Total Purchase Price (in thousands) Kingswood Center $ 15,690 $ 76,766 $ 9,263 $ (4,534) $ (6,973) $ — $ — $ 90,212 Kingswood Crossing 8,150 64,159 4,768 — — — — 77,077 51 East Spring Valley Ave 662 — — — — — — 662 Sunrise Mall (2) 44,035 3,084 5,495 (26,495) — 5,012 414 31,545 2020 Total $ 68,537 $ 144,009 $ 19,526 $ (31,029) $ (6,973) $ 5,012 $ 414 $ 199,496 25 East Spring Valley Ave (3) $ — $ 6,824 $ 623 $ (31) $ — $ (254) $ — $ 7,162 Wonderland Marketplace 6,323 17,130 2,947 (2,191) — — — 24,209 150 Route 4 East 7,118 — — — — — — 7,118 2019 Total $ 13,441 $ 23,954 $ 3,570 $ (2,222) $ — $ (254) $ — $ 38,489 (1) As of December 31, 2020, the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2020 were 11.0 years and 32.5 years, respectively and the remaining weighted average amortization periods of the identified intangible assets and identified intangible liabilities acquired in 2019 were 11.4 years and 23 years, respectively. (2) In connection with this acquisition, the Company acquired the lessee positions of ground leases and recognized operating lease ROU assets and operating lease liabilities. Refer to Note 8 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for further information. (3) In connection with this acquisition, the Company acquired the lessee position of a ground lease and recognized a finance lease ROU asset and finance lease liability of $2.7 million and $3.0 million, respectively.

IDENTIFIED INTANGIBLE ASSETS _2

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 In-place leases $ 82,303 $ 71,328 Accumulated amortization (32,515) (27,254) Above-market leases 9,255 6,100 Accumulated amortization (3,570) (2,998) Other intangible assets 1,635 1,635 Accumulated amortization (924) (690) Identified intangible assets, net of accumulated amortization 56,184 48,121 Below-market leases 219,558 191,440 Accumulated amortization (71,375) (62,610) Identified intangible liabilities, net of accumulated amortization $ 148,183 $ 128,830
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, 2021: (Amounts in thousands) Below-Market Above-Market In-Place Lease Year Operating Lease Amortization Operating Lease Amortization Amortization 2021 $ 10,543 $ (1,170) $ (7,596) 2022 10,466 (803) (5,998) 2023 10,421 (695) (4,857) 2024 10,185 (631) (4,371) 2025 10,012 (452) (3,733)

MORTGAGES PAYABLE (Tables)

MORTGAGES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Mortgages Payable	The following is a summary of mortgages payable as of December 31, 2020 and December 31, 2019. Interest Rate at December 31, December 31, (Amounts in thousands) Maturity December 31, 2020 2020 2019 First mortgages secured by: Variable rate Cherry Hill (Plaza at Cherry Hill) (1) 5/24/2022 1.75% $ 28,930 $ 28,930 Westfield (One Lincoln Plaza) (1) 5/24/2022 1.75% 4,730 4,730 Woodbridge (Plaza at Woodbridge) (1) 5/25/2022 1.75% 55,340 55,340 Jersey City (Hudson Commons) (2) 11/15/2024 2.05% 28,586 29,000 Watchung (2) 11/15/2024 2.05% 26,613 27,000 Bronx (1750-1780 Gun Hill Road) (2) 12/1/2024 2.05% 25,172 24,500 Total variable rate debt 169,371 169,500 Fixed rate Paramus (Bergen Town Center - West) 4/8/2023 3.56% 300,000 300,000 Bronx (Shops at Bruckner) 5/1/2023 3.90% 10,351 10,978 Jersey City (Hudson Mall) 12/1/2023 5.07% 22,904 23,625 Yonkers Gateway Center 4/6/2024 4.16% 28,482 30,122 Brick 12/10/2024 3.87% 50,000 50,000 North Plainfield 12/10/2025 3.99% 25,100 25,100 Las Catalinas 2/1/2026 4.43% 127,669 129,335 Middletown 12/1/2026 3.78% 31,400 31,400 Rockaway 12/1/2026 3.78% 27,800 27,800 East Hanover (200 - 240 Route 10 West) 12/10/2026 4.03% 63,000 63,000 North Bergen (Tonnelle Ave) 4/1/2027 4.18% 100,000 100,000 Manchester 6/1/2027 4.32% 12,500 12,500 Millburn 6/1/2027 3.97% 23,381 23,798 Totowa 12/1/2027 4.33% 50,800 50,800 Woodbridge (Woodbridge Commons) 12/1/2027 4.36% 22,100 22,100 East Brunswick 12/6/2027 4.38% 63,000 63,000 East Rutherford 1/6/2028 4.49% 23,000 23,000 Brooklyn (Kingswood Center) (3) 2/6/2028 5.07% 71,696 — Hackensack 3/1/2028 4.36% 66,400 66,400 Marlton 12/1/2028 3.86% 37,400 37,400 East Hanover Warehouses 12/1/2028 4.09% 40,700 40,700 Union (2445 Springfield Ave) 12/10/2028 4.01% 45,600 45,600 Freeport (Freeport Commons) 12/10/2029 4.07% 43,100 43,100 Montehiedra 6/1/2030 5.00% 81,141 83,202 Montclair 8/15/2030 3.15% 7,250 — Garfield 12/1/2030 4.14% 40,300 40,300 Mt Kisco (3) 11/15/2034 6.40% 12,952 13,488 Montehiedra (junior loan) — —% — 30,000 Total fixed rate debt 1,428,026 1,386,748 Total mortgages payable 1,597,397 1,556,248 Unamortized debt issuance costs (9,865) (10,053) Total mortgages payable, net of unamortized debt issuance costs $ 1,587,532 $ 1,546,195 (1) Bears interest at one month LIBOR plus 160 bps. (2) Bears interest at one month LIBOR plus 190 bps.
Schedule of Principal Repayments	As of December 31, 2020, the principal repayments for the next five years and thereafter are as follows: (Amounts in thousands) Year Ending December 31, 2021 $ 14,460 2022 103,526 2023 349,742 2024 163,625 2025 40,867 2026 231,056 Thereafter 694,121

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Tax Status of Dividends Paid	The Company satisfied its REIT distribution requiremen t by distributing $0.68 per common share in 2020, which comprised a regular quarterly cash dividend of $0.22 per common share declared for the first quarter of 2020 and a special cash dividend of $0.46 per common share declared in December 2020. During the years ended December 31, 2019 and 2018, the Company declared cash distributions on our common shares of $0.88 per share . Th e taxability of such dividends for the years ended December 31, 2020, 2019 and 2018 are as follows: Year Ended December 31, 2020 2019 2018 Dividend paid per share (1) $ 0.68 $ 0.88 $ 0.88 Ordinary income 100 % 83 % 100 % Return of capital — % — % — % Capital gains — % 17 % — %
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) for the years ended December 31, 2020, 2019 and 2018 consists of the following: Year Ended December 31, (Amounts in thousands) 2020 2019 2018 Income tax expense (benefit): Current: U.S. federal income tax $ — $ — $ 154 U.S. state and local income tax 4,525 66 101 Puerto Rico income tax 1,293 851 560 Total current 5,818 917 815 Deferred: U.S. federal income tax (6) — — U.S. state and local income tax — — — Puerto Rico income tax (1) (44,808) 370 2,704 Total deferred (44,814) 370 2,704 Total income tax expense (benefit) $ (38,996) $ 1,287 $ 3,519 (1) Due to the effects of applying ASC 842 on January 1, 2019, a deferred tax benefit of $0.8 million was recognized within a cumulative-effect adjustment to accumulated deficit to adjust r eserves on receivables from straight-line rents during the year ended December 31, 2019. Refer to Note 3 to the consolidated financial statements included in Part II, Item 8 of this Annual Report on Form 10-K for more information.
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) 2020 2019 2018 Federal provision at statutory tax rate (1) $ 12,338 $ 24,672 $ 25,301 REIT income before income taxes not subject to federal tax provision (12,339) (24,677) (14,390) TRS permanent book to tax adjustments — — (10,740) State and local income tax provision, net of federal benefit 11 66 84 Puerto Rico income tax provision (43,515) 1,221 3,264 Change in valuation allowance 4,509 5 — Total income tax expense (benefit) $ (38,996) $ 1,287 $ 3,519 (1) Federal statutory tax rate of 21% for the years ended December 31, 2020, 2019 and 2018.
Schedule of Net Deferred Income Tax Liability	Below is a table summarizing the Company’s deferred tax assets and liabilities as of December 31, 2020 and 2019: Balance at (Amounts in thousands) December 31, 2020 December 31, 2019 Deferred tax assets: Depreciation $ 41,942 $ — Amortization of deferred financing costs 1,105 69 Rental revenue deemed uncollectible 2,109 461 Charitable contribution 7 5 Net operating loss 107 5 Valuation allowance (4,514) (5) Total deferred tax assets 40,756 535 Deferred tax liabilities: Depreciation — (4,416) Straight line rent (738) (1,051) Amortization of acquired leases (228) (205) Accrued interest expense (113) — Total deferred tax liabilities (1,079) (5,672) Net deferred tax assets (liabilities) $ 39,677 $ (5,137)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of Components of Rental Revenue	The components of rental revenue for the years ended December 31, 2020 and 2019 were as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 Rental Revenue Fixed lease revenue $ 235,488 $ 274,397 Variable lease revenue 92,792 110,008 Total rental revenue $ 328,280 $ 384,405
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, 2020 , 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, 2021 $ 252,690 2022 241,036 2023 219,771 2024 186,531 2025 162,906 2026 142,130 Thereafter 703,522 Total undiscounted cash flows $ 1,908,586
Schedule of Components of Lease Expense and Supplemental Cash Information Related to Leases	The components of lease expense for the years ended December 31, 2020 and 2019 were as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 Lease expense Operating lease cost (1) $ 10,875 $ 11,730 Variable lease cost 2,792 2,736 Total lease expense $ 13,667 $ 14,466 (1) During the years ended December 31, 2020 and 2019, the Company recognized sublease income of $17.7 million and $19.7 million, respectively, included in rental revenue on the consolidated statement of 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, 2020 and 2019 was as follows: (Amounts in thousands) Year Ended December 31, Cash paid for amounts included in the measurement of lease liabilities: 2020 2019 Operating cash flows from operating leases $ 10,033 $ 10,698 Operating cash flows from finance lease 120 10 Financing cash flows from finance lease 11 8 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,740 $ 98,980 Finance lease — 2,991
Schedule of Supplemental Noncash Information Related to Operating Leases	Supplemental balance sheet information related to leases as of December 31, 2020 and December 31, 2019 was as follows: December 31, 2020 December 31, 2019 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 15.7 years 35.2 years 15.3 years 36.2 years Weighted-average discount rates 3.99 % 4.01 % 4.03 % 4.01 %
Schedule of Supplemental Noncash Information Related to Finance Leases	Supplemental balance sheet information related to leases as of December 31, 2020 and December 31, 2019 was as follows: December 31, 2020 December 31, 2019 Supplemental noncash information Operating leases Finance lease Operating leases Finance lease Weighted-average remaining lease term 15.7 years 35.2 years 15.3 years 36.2 years Weighted-average discount rates 3.99 % 4.01 % 4.03 % 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 2021 $ 9,363 $ 109 2022 8,598 109 2023 8,486 109 2024 8,500 109 2025 6,599 109 2026 6,341 124 Thereafter 57,541 6,299 Total undiscounted cash flows 105,428 6,968 Present value discount (30,456) (3,975) Discounted cash flows $ 74,972 $ 2,993
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 2021 $ 9,363 $ 109 2022 8,598 109 2023 8,486 109 2024 8,500 109 2025 6,599 109 2026 6,341 124 Thereafter 57,541 6,299 Total undiscounted cash flows 105,428 6,968 Present value discount (30,456) (3,975) Discounted cash flows $ 74,972 $ 2,993

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Financial Instrument Carrying Amounts and Fair Values	The table below summarizes the carrying amounts and fair value of these financial instruments as of December 31, 2020 and December 31, 2019. As of December 31, 2020 As of December 31, 2019 (Amounts in thousands) Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 384,572 $ 384,572 $ 432,954 $ 432,954 Liabilities: Mortgages payable (1) $ 1,597,397 $ 1,611,868 $ 1,556,248 $ 1,590,503 (1) Carrying amounts exclude unamortized debt issuance costs of $9.9 million and $10.1 million as of December 31, 2020 and December 31, 2019, respectively.

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Composition of Prepaid Expenses and Other Assets	The following is a summary of the composition of the prepaid expenses and other assets in the consolidated balance sheets: Balance at (Amounts in thousands) December 31, 2020 December 31, 2019 Other assets $ 5,953 $ 4,723 Deferred tax asset, net 39,677 — Real estate held for sale 7,056 6,574 Finance lease right-of-use asset 2,724 2,737 Deferred financing costs, net of accumulated amortization of $4,819 and $3,765, respectively 3,347 3,877 Deposits for acquisitions — 10,000 Prepaid expenses: Real estate taxes 8,093 6,491 Insurance 1,583 1,520 Rent, licenses/fees 1,878 1,655 Total Prepaid expenses and other assets $ 70,311 $ 37,577

ACCOUNTS PAYABLE, ACCRUED EXP_2

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 December 31, 2019 Dividend payable $ 55,905 $ — Deferred tenant revenue 26,594 26,224 Accrued capital expenditures and leasing costs 7,797 7,893 Finance lease liability 2,993 2,982 Accrued interest payable 11,095 9,729 Security deposits 5,884 5,814 Deferred tax liability, net — 5,137 Accrued payroll expenses 5,797 5,851 Other liabilities and accrued expenses 16,915 13,014 Total accounts payable, accrued expenses and other liabilities $ 132,980 $ 76,644

INTEREST AND DEBT EXPENSE (Tabl

INTEREST AND DEBT EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2020
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) 2020 2019 2018 Interest expense $ 68,184 $ 63,783 $ 61,989 Amortization of deferred financing costs 2,831 2,856 2,879 Total Interest and debt expense $ 71,015 $ 66,639 $ 64,868

EARNINGS PER SHARE AND UNIT (Ta

EARNINGS PER SHARE AND UNIT (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings per Share and Unit	The following table sets forth the computation of our basic and diluted earnings per share: Year Ended December 31, (Amounts in thousands, except per share amounts) 2020 2019 2018 Numerator: Net income attributable to common shareholders $ 93,589 $ 109,523 $ 105,150 Less: Earnings allocated to unvested participating securities (62) (92) (184) Net income available for common shareholders - basic $ 93,527 $ 109,431 $ 104,966 Impact of assumed conversions: OP and LTIP units 81 5 — Net income available for common shareholders - dilutive $ 93,608 $ 109,436 $ 104,966 Denominator: Weighted average common shares outstanding - basic 117,722 119,751 113,863 Effect of dilutive securities: Stock options using the treasury stock method — — — Restricted share awards 77 100 188 Assumed conversion of OP and LTIP units 103 45 — Weighted average common shares outstanding - diluted 117,902 119,896 114,051 Earnings per share available to common shareholders: Earnings per common share - Basic $ 0.79 $ 0.91 $ 0.92 Earnings per common share - Diluted $ 0.79 $ 0.91 $ 0.92 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) 2020 2019 2018 Numerator: Net income attributable to unitholders $ 97,749 $ 116,222 $ 116,918 Less: net income attributable to participating securities (62) (92) (200) Net income available for unitholders $ 97,687 $ 116,130 $ 116,718 Denominator: Weighted average units outstanding - basic 121,957 126,333 126,198 Effect of dilutive securities issued by Urban Edge 77 100 188 Unvested LTIP units 777 45 — Weighted average units outstanding - diluted 122,811 126,478 126,386 Earnings per unit available to unitholders: Earnings per unit - Basic $ 0.80 $ 0.92 $ 0.92 Earnings per unit - Diluted $ 0.80 $ 0.92 $ 0.92

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Stock Options Activity	The following table presents stock option activity for the years ended December 31, 2020, 2019, and 2018: Shares Under Options Weighted Average Exercise Price per Share Weighted Average Remaining Expected Term (In years) Outstanding at January 1, 2018 2,603,664 $ 24.09 4.40 Granted 2,146,885 21.71 4.58 Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2018 4,750,549 23.02 4.48 Granted 180,213 19.53 3.88 Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2019 4,930,762 22.89 4.46 Granted — — — Exercised — — — Forfeited or expired — — — Outstanding at December 31, 2020 4,930,762 $ 22.89 4.07 Exercisable at December 31, 2020 3,709,097 $ 23.31 —
Schedule of Assumptions Used to Estimate Fair Value of Options Granted	uring the years ended December 31, 2019 and 2018, the fair value of the options granted was estimated on the grant date using the Black-Scholes pricing model with the following assumptions: February 22, 2018 September 27, 2018 February 27, 2019 Risk-free interest rate 2.73% 3.00% 2.54% Expected option life 6.25 7.00 6.25 Expected volatility 32.23% 30.42% 30.98%
Schedule of Restricted Share Activity	The following table presents information regarding restricted share activity during the years ended December 31, 2020, 2019, and 2018: Shares Weighted Average Grant Date Fair Value per Share Unvested at January 1, 2018 175,430 $ 26.05 Granted 103,814 21.65 Vested (84,185) 25.67 Forfeited (32,482) 23.32 Unvested at December 31, 2018 162,577 23.99 Granted 34,638 19.15 Vested (96,378) 24.19 Forfeited (5,672) 22.11 Unvested at December 31, 2019 95,165 22.16 Granted 31,679 17.47 Vested (51,524) 23.88 Forfeited (2,927) 18.79 Unvested at December 31, 2020 72,393 $ 19.03
Schedule of Share-based Compensation Expense	Share-based compensation expense, which is included in general and administrative expenses in our consolidated statements of income, is summarized as follows: Year Ended December 31, (Amounts in thousands) 2020 2019 2018 Share-based compensation expense components: Restricted share expense $ 832 $ 1,697 $ 2,051 Stock option expense 4,991 4,055 2,778 LTIP expense (1) 7,331 4,477 2,218 Performance-based LTI expense (2) 3,792 3,164 2,530 DSU expense 48 156 164 Total Share-based compensation expense $ 16,994 $ 13,549 $ 9,741 (1) LTIP expense includes the time-based portion of the 2020, 2019 and 2018 L TI Plans. (2) Performance-based LTI expense include s the 2017 and 2015 OPP p lans and the performance-based portion of the 2020, 2019 and 2018 L TI Plans.

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) ft² in Millions	Jan. 15, 2015	Dec. 31, 2020ft²property
Real Estate Properties [Line Items]
Square Feet | ft²		16.3
Walnut Creek (Mt. Diablo), CA
Real Estate Properties [Line Items]
Ownership percentage		95.00%
Sunrise Mall
Real Estate Properties [Line Items]
Ownership percentage		82.50%
Wholly owned properties | Shopping Center
Real Estate Properties [Line Items]
Number of real estate properties		72
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	5.40%	96.10%

BASIS OF PRESENTATION AND PRI_2

BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION AND COMBINATION (Details)	12 Months Ended
	Dec. 31, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	1

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) ft² in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²propertyentity	Dec. 31, 2019USD ($)entity	Dec. 31, 2018USD ($)	Jan. 01, 2019USD ($)property
Property, Plant and Equipment [Line Items]
Variable lease payments based on CPI	$ 2,400,000	$ 4,100,000
Tenant expense reimbursements	$ 96,700,000	$ 105,300,000
Number of properties in operating lease portfolio | property	26			24
Number of VIEs | entity	2	1
Assets	$ 2,939,560,000	$ 2,846,358,000
Liabilities	$ 1,943,667,000	1,831,582,000
Term of share-based compensation awards	10 years
Square Feet | ft²	16,300
Revenues	$ 330,095,000	387,649,000	$ 414,160,000
Cumulative effect of new accounting pronouncement in period of adoption				$ (2,918,000)
Identified intangible liabilities, net of accumulated amortization	148,183,000	128,830,000
Operating lease ROU assets	80,997,000	81,768,000
Operating lease liabilities	74,972,000	79,913,000
Finance lease right-of-use asset	2,724,000	2,737,000
Finance lease liability	2,993,000	2,982,000
Variable lease cost	2,792,000	2,736,000
Rental revenue deemed uncollectible	27,890,000	1,385,000	$ 4,138,000
Variable Interest Entity, Primary Beneficiary
Property, Plant and Equipment [Line Items]
Assets	43,600,000	9,800,000
Liabilities	31,500,000	$ 3,100,000
COVID-19
Property, Plant and Equipment [Line Items]
Rental revenue deemed uncollectible	27,900,000
Write-off of receivables from straight-line rents and reserves	12,000,000
Lease modification method, amount	4,500,000
Lease term modifications, amount	600,000
Lease abatements granted	3,900,000
Lease abatements granted, modifications	3,500,000
Lease abatements granted, portion under variable approach	400,000
Rent deferrals granted	$ 5,100,000
The Home Depot
Property, Plant and Equipment [Line Items]
Number of real estate properties | property	6
Square Feet | ft²	809
Customer Concentration Risk | Sales Revenue, Net | The Home Depot
Property, Plant and Equipment [Line Items]
Revenues	$ 20,700,000
Concentration risk percentage	6.30%
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives of real estate property	1 year
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives of real estate property	40 years
Revolving Credit Facility | Revolving Credit Agreement
Property, Plant and Equipment [Line Items]
Amounts drawn under credit facility	$ 0
ASC 842
Property, Plant and Equipment [Line Items]
Identified intangible liabilities, net of accumulated amortization				(11,900,000)
Operating lease ROU assets				98,500,000
Operating lease liabilities				93,600,000
Deferred rent credits				(7,100,000)
Ground and Building
Property, Plant and Equipment [Line Items]
Number of properties in operating lease portfolio | property	22
Ground and Building | Minimum
Property, Plant and Equipment [Line Items]
Lessee, operating lease term of contract	2 years
Ground and Building | Maximum
Property, Plant and Equipment [Line Items]
Lessee, operating lease term of contract	80 years
Corporate Offices
Property, Plant and Equipment [Line Items]
Number of properties in operating lease portfolio | property	3
Lessee, operating lease term of contract	1 year
Accumulated Earnings (Deficit) | ASC 842
Property, Plant and Equipment [Line Items]
Cumulative effect of new accounting pronouncement in period of adoption				$ 2,900,000

ACQUISITIONS AND DISPOSITIONS -

ACQUISITIONS AND DISPOSITIONS - Summary of Acquisition Activity (Details) $ in Thousands	Dec. 31, 2020USD ($)ft²	Dec. 11, 2020USD ($)ft²	Feb. 12, 2020USD ($)ft²	Dec. 09, 2019USD ($)ft²	Nov. 08, 2019USD ($)ft²	Nov. 01, 2019USD ($)ft²	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Square Feet | ft²	16,300,000						16,300,000
Purchase Price							$ 199,496	$ 38,489
Transaction costs	$ 3,100						$ 3,100	$ 300
Brooklyn (Kingswood Center)
Business Acquisition [Line Items]
Square Feet | ft²			130,000
Purchase Price			$ 90,212
Kingswood Crossing
Business Acquisition [Line Items]
Square Feet | ft²			110,000
Purchase Price			$ 77,077
51 East Spring Valley Ave
Business Acquisition [Line Items]
Square Feet | ft²		3,000
Purchase Price		$ 662
Sunrise Mall
Business Acquisition [Line Items]
Square Feet | ft²	1,211,000						1,211,000
Purchase Price	$ 31,545
25 East Spring Valley Ave
Business Acquisition [Line Items]
Square Feet | ft²						43,800
Purchase Price						$ 7,162
Wonderland Marketplace
Business Acquisition [Line Items]
Square Feet | ft²					139,500
Purchase Price					$ 24,209
150 Route 4 East
Business Acquisition [Line Items]
Square Feet | ft²				12,000
Purchase Price				$ 7,118

ACQUISITIONS AND DISPOSITIONS_2

ACQUISITIONS AND DISPOSITIONS - Narrative (Details) ft² in Thousands, $ in Thousands	Feb. 12, 2020USD ($)ft²	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2020USD ($)ft²entityproperty	Dec. 31, 2020USD ($)ft²property	Dec. 31, 2020USD ($)ft²leaseproperty	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Number of acquisitions				3	4
Business acquisition, consideration paid			$ 199,496					$ 38,489
Square Feet | ft²		16,300	16,300	16,300	16,300	16,300	16,300
Recognized identifiable assets acquired and liabilities assumed, net		$ 199,496	$ 199,496	$ 199,496	$ 199,496	$ 199,496	$ 199,496	38,489
Number of ground lease positions sold | lease							1
Proceeds from sale of ground lease			0					6,949	$ 0
Gain on sale of ground lease			0					1,849	0
Real estate held for sale		7,056	7,056	7,056	7,056	7,056	$ 7,056	6,574
Gain on sale of real estate			39,775					$ 68,632	$ 52,625
Sunrise Mall
Business Acquisition [Line Items]
Business acquisition, consideration paid			31,500
Contingent consideration, liability		$ 6,000	$ 6,000	$ 6,000	$ 6,000	$ 6,000	$ 6,000
Sunrise Mall | Sunrise Mall | Noncontrolling Interest
Business Acquisition [Line Items]
Noncontrolling interest percentage		17.50%	17.50%	17.50%	17.50%	17.50%	17.50%
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties sold | property						3		8
Proceeds from sale of properties			$ 58,100					$ 112,800
Gain on sale of real estate			39,800					$ 68,600
Properties Adjacent to Bergen Town Center
Business Acquisition [Line Items]
Number of acquisitions				2
Kingswood Center And Kingswood Crossing
Business Acquisition [Line Items]
Recognized identifiable assets acquired and liabilities assumed, net	$ 167,300
Brooklyn (Kingswood Center)
Business Acquisition [Line Items]
Business acquisition, consideration paid	$ 90,212
Square Feet | ft²	130
Recognized identifiable assets acquired and liabilities assumed, net		$ 90,212	90,212	$ 90,212	$ 90,212	$ 90,212	$ 90,212
Brooklyn (Kingswood Center) | Mortgages
Business Acquisition [Line Items]
Noncurrent liabilities, long-term debt	$ 65,500
Kingswood Crossing
Business Acquisition [Line Items]
Business acquisition, consideration paid	$ 77,077
Square Feet | ft²	110
Recognized identifiable assets acquired and liabilities assumed, net		$ 77,077	$ 77,077	$ 77,077	$ 77,077	$ 77,077	$ 77,077
Reverse section 1031 like-kind exchange, term		180 days
Kingswood Center, Kingswood Crossing, 51 East Spring Valley Ave, and Sunrise Mall
Business Acquisition [Line Items]
Square Feet | ft²		1,500	1,500	1,500	1,500	1,500	1,500
Prepaid Expenses and Other Current Assets | Lawnside, NJ and Bethlehem, PA | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties classified as held for sale | property								2
Prepaid Expenses and Other Current Assets | Bethlehem, PA | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Real estate held for sale								$ 3,100
Prepaid Expenses and Other Current Assets | Lawnside, NJ | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Real estate held for sale								$ 3,500
Prepaid Expenses and Other Current Assets | Lodi, NJ | Disposal Group, Held-for-sale, Not Discontinued Operations
Business Acquisition [Line Items]
Number of properties classified as held for sale | property		1	1	1	1	1	1
Real estate held for sale		$ 7,100	$ 7,100	$ 7,100	$ 7,100	$ 7,100	$ 7,100

ACQUISITIONS AND DISPOSITIONS_3

ACQUISITIONS AND DISPOSITIONS - Aggregate Purchase Price Allocation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Nov. 01, 2019
Business Acquisition [Line Items]
Land	$ 68,537	$ 13,441
Buildings and improvements	144,009	23,954
Identified intangible assets	19,526	3,570
Identified intangible liabilities	(31,029)	(2,222)
Debt Premium	(6,973)	0
ROU assets net of lease liabilities	5,012	(254)
Other assets, net	414	0
Total purchase price	$ 199,496	$ 38,489
Remaining weighted average amortization period of acquired intangibles	11 years	11 years 4 months 24 days
Remaining weighted average amortization period of acquired intangibles liabilities	32 years 6 months	23 years
Finance lease right-of-use asset	$ 2,724	$ 2,737
Finance lease liability	(2,993)	(2,982)
Brooklyn (Kingswood Center)
Business Acquisition [Line Items]
Land	15,690
Buildings and improvements	76,766
Identified intangible assets	9,263
Identified intangible liabilities	(4,534)
Debt Premium	(6,973)
Total purchase price	90,212
Kingswood Crossing
Business Acquisition [Line Items]
Land	8,150
Buildings and improvements	64,159
Identified intangible assets	4,768
Identified intangible liabilities	0
Debt Premium	0
Total purchase price	77,077
51 East Spring Valley Ave
Business Acquisition [Line Items]
Land	662
Buildings and improvements	0
Identified intangible assets	0
Identified intangible liabilities	0
Total purchase price	662
Sunrise Mall
Business Acquisition [Line Items]
Land	44,035
Buildings and improvements	3,084
Identified intangible assets	5,495
Identified intangible liabilities	(26,495)
ROU assets net of lease liabilities	5,012
Other assets, net	414
Total purchase price	31,545
25 East Spring Valley Ave
Business Acquisition [Line Items]
Land		0
Buildings and improvements		6,824
Identified intangible assets		623
Identified intangible liabilities		(31)
ROU assets net of lease liabilities		(254)
Total purchase price		7,162
Finance lease right-of-use asset	2,700		$ 2,700
Finance lease liability	$ (3,000)		$ (3,000)
Wonderland Marketplace
Business Acquisition [Line Items]
Land		6,323
Buildings and improvements		17,130
Identified intangible assets		2,947
Identified intangible liabilities		(2,191)
ROU assets net of lease liabilities		0
Total purchase price		24,209
150 Route 4 East
Business Acquisition [Line Items]
Land		7,118
Buildings and improvements		0
Identified intangible assets		0
Identified intangible liabilities		0
ROU assets net of lease liabilities		0
Total purchase price		$ 7,118

IDENTIFIED INTANGIBLE ASSETS _3

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Identifiable Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
In-place leases, gross	$ 82,303	$ 71,328
Accumulated amortization, identified intangible assets	(37,009)	(30,942)
Identified intangible assets, net of accumulated amortization	56,184	48,121
Below-market lease liability, gross	219,558	191,440
Accumulated amortization, below-market lease liabilities	(71,375)	(62,610)
Identified intangible liabilities, net of accumulated amortization	148,183	128,830
In-place leases
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization, identified intangible assets	(32,515)	(27,254)
Above-market leases
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization, identified intangible assets	(3,570)	(2,998)
Below and above-market leases and other intangibles, gross	9,255	6,100
Accumulated amortization
Finite-Lived Intangible Assets [Line Items]
Accumulated amortization, identified intangible assets	(924)	(690)
Below and above-market leases and other intangibles, gross	$ 1,635	$ 1,635

IDENTIFIED INTANGIBLE ASSETS _4

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Identified intangible assets, net of accumulated amortization	$ 56,184	$ 48,121
Identified intangible liabilities, net of accumulated amortization	148,183	128,830
Amortization of acquired below-market leases, net of above-market leases	10,600	15,900	$ 34,000
Amortization expense of intangible assets	$ 10,200	$ 8,800	$ 15,100

IDENTIFIED INTANGIBLE ASSETS _5

IDENTIFIED INTANGIBLE ASSETS AND LIABILITIES - Schedule of Estimated Annual Amortization Expense (Details) $ in Thousands	Dec. 31, 2020USD ($)
Below-Market Operating Leases
2021	$ 10,543
2022	10,466
2023	10,421
2024	10,185
2025	10,012
Above-market leases
Operating Leases
2021	(1,170)
2022	(803)
2023	(695)
2024	(631)
2025	(452)
In-place leases
Operating Leases
2021	(7,596)
2022	(5,998)
2023	(4,857)
2024	(4,371)
2025	$ (3,733)

MORTGAGES PAYABLE - Summary of

MORTGAGES PAYABLE - Summary of Mortgages Payable (Details) - USD ($)	Aug. 05, 2020	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2021	May 31, 2020	Apr. 30, 2020
Debt Instrument [Line Items]
Total mortgages payable, net of unamortized debt issuance costs		$ 1,587,532,000		$ 1,587,532,000	$ 1,546,195,000
Gain (loss) on extinguishment of debt				34,908,000	0	$ 2,524,000
Mortgages | Montehiedra Town Center
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt				34,900,000
Mortgages | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate			5.00%					5.33%
Debt instrument, term			10 years
Face amount			$ 82,000,000					$ 83,000,000
Mortgages | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate			3.00%
Write-off of unamortized deferred financing fees			$ 400,000
Face amount			$ 30,000,000
Mortgages | Montclair, NJ
Debt Instrument [Line Items]
Interest rate	3.15%
Debt instrument, term	10 years
Face amount	$ 7,300,000
Mortgages | First Mortgage
Debt Instrument [Line Items]
Total mortgages payable		1,597,397,000		1,597,397,000	1,556,248,000
Unamortized debt issuance costs		(9,865,000)		(9,865,000)	(10,053,000)
Total mortgages payable, net of unamortized debt issuance costs		1,587,532,000		1,587,532,000	1,546,195,000
Mortgages | First Mortgage | Variable rate
Debt Instrument [Line Items]
Total mortgages payable		$ 169,371,000		$ 169,371,000	169,500,000
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill
Debt Instrument [Line Items]
Interest rate		1.75%		1.75%
Total mortgages payable		$ 28,930,000		$ 28,930,000	$ 28,930,000
Mortgages | First Mortgage | Variable rate | The Plaza at Cherry Hill | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				160.00%	160.00%
Mortgages | First Mortgage | Variable rate | Westfield - One Lincoln Plaza
Debt Instrument [Line Items]
Interest rate		1.75%		1.75%
Total mortgages payable		$ 4,730,000		$ 4,730,000	$ 4,730,000
Mortgages | First Mortgage | Variable rate | Westfield - One Lincoln Plaza | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				160.00%	160.00%
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge
Debt Instrument [Line Items]
Interest rate		1.75%		1.75%
Total mortgages payable		$ 55,340,000		$ 55,340,000	$ 55,340,000
Mortgages | First Mortgage | Variable rate | The Plaza at Woodbridge | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				160.00%	160.00%
Mortgages | First Mortgage | Variable rate | Hudson Commons
Debt Instrument [Line Items]
Interest rate		2.05%		2.05%
Total mortgages payable		$ 28,586,000		$ 28,586,000	$ 29,000,000
Mortgages | First Mortgage | Variable rate | Hudson Commons | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				190.00%	190.00%
Mortgages | First Mortgage | Variable rate | Watchung, NJ
Debt Instrument [Line Items]
Interest rate		2.05%		2.05%
Total mortgages payable		$ 26,613,000		$ 26,613,000	$ 27,000,000
Mortgages | First Mortgage | Variable rate | Watchung, NJ | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				190.00%	190.00%
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY
Debt Instrument [Line Items]
Interest rate		2.05%		2.05%
Total mortgages payable		$ 25,172,000		$ 25,172,000	$ 24,500,000
Mortgages | First Mortgage | Variable rate | Bronx (1750-1780 Gun Hill Road), NY | LIBOR
Debt Instrument [Line Items]
Interest rate spread on variable rate				190.00%	190.00%
Mortgages | First Mortgage | Fixed rate
Debt Instrument [Line Items]
Total mortgages payable		$ 1,428,026,000		$ 1,428,026,000	$ 1,386,748,000
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Interest rate		5.00%		5.00%
Total mortgages payable		$ 81,141,000		$ 81,141,000	83,202,000
Mortgages | First Mortgage | Fixed rate | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Interest rate		0.00%		0.00%
Total mortgages payable		$ 0		$ 0	30,000,000
Mortgages | First Mortgage | Fixed rate | Bergen Town Center
Debt Instrument [Line Items]
Interest rate		3.56%		3.56%
Total mortgages payable		$ 300,000,000		$ 300,000,000	300,000,000
Mortgages | First Mortgage | Fixed rate | Shops at Bruckner
Debt Instrument [Line Items]
Interest rate		3.90%		3.90%
Total mortgages payable		$ 10,351,000		$ 10,351,000	10,978,000
Mortgages | First Mortgage | Fixed rate | Hudson Mall
Debt Instrument [Line Items]
Interest rate		5.07%		5.07%
Total mortgages payable		$ 22,904,000		$ 22,904,000	23,625,000
Mortgages | First Mortgage | Fixed rate | Yonkers Gateway Center
Debt Instrument [Line Items]
Interest rate		4.16%		4.16%
Total mortgages payable		$ 28,482,000		$ 28,482,000	30,122,000
Mortgages | First Mortgage | Fixed rate | Las Catalinas
Debt Instrument [Line Items]
Interest rate		4.43%		4.43%			3.00%		4.43%
Total mortgages payable		$ 127,669,000		$ 127,669,000	129,335,000
Interest rate spread on variable rate		50.00%
Face amount									$ 129,000,000
Mortgages | First Mortgage | Fixed rate | Brick, NJ
Debt Instrument [Line Items]
Interest rate		3.87%		3.87%
Total mortgages payable		$ 50,000,000		$ 50,000,000	50,000,000
Mortgages | First Mortgage | Fixed rate | North Plainfield, NJ
Debt Instrument [Line Items]
Interest rate		3.99%		3.99%
Total mortgages payable		$ 25,100,000		$ 25,100,000	25,100,000
Mortgages | First Mortgage | Fixed rate | Middletown, NJ
Debt Instrument [Line Items]
Interest rate		3.78%		3.78%
Total mortgages payable		$ 31,400,000		$ 31,400,000	31,400,000
Mortgages | First Mortgage | Fixed rate | Rockaway
Debt Instrument [Line Items]
Interest rate		3.78%		3.78%
Total mortgages payable		$ 27,800,000		$ 27,800,000	27,800,000
Mortgages | First Mortgage | Fixed rate | East Hanover (200 - 240 Route 10 West), NJ
Debt Instrument [Line Items]
Interest rate		4.03%		4.03%
Total mortgages payable		$ 63,000,000		$ 63,000,000	63,000,000
Mortgages | First Mortgage | Fixed rate | North Bergen (Tonnelle Avenue), NJ
Debt Instrument [Line Items]
Interest rate		4.18%		4.18%
Total mortgages payable		$ 100,000,000		$ 100,000,000	100,000,000
Mortgages | First Mortgage | Fixed rate | Manchester Plaza
Debt Instrument [Line Items]
Interest rate		4.32%		4.32%
Total mortgages payable		$ 12,500,000		$ 12,500,000	12,500,000
Mortgages | First Mortgage | Fixed rate | Millburn
Debt Instrument [Line Items]
Interest rate		3.97%		3.97%
Total mortgages payable		$ 23,381,000		$ 23,381,000	23,798,000
Mortgages | First Mortgage | Fixed rate | Totowa, NJ
Debt Instrument [Line Items]
Interest rate		4.33%		4.33%
Total mortgages payable		$ 50,800,000		$ 50,800,000	50,800,000
Mortgages | First Mortgage | Fixed rate | Woodbridge Commons
Debt Instrument [Line Items]
Interest rate		4.36%		4.36%
Total mortgages payable		$ 22,100,000		$ 22,100,000	22,100,000
Mortgages | First Mortgage | Fixed rate | East Brunswick, NJ
Debt Instrument [Line Items]
Interest rate		4.38%		4.38%
Total mortgages payable		$ 63,000,000		$ 63,000,000	63,000,000
Mortgages | First Mortgage | Fixed rate | East Rutherford, NJ
Debt Instrument [Line Items]
Interest rate		4.49%		4.49%
Total mortgages payable		$ 23,000,000		$ 23,000,000	23,000,000
Mortgages | First Mortgage | Fixed rate | Hackensack, NJ
Debt Instrument [Line Items]
Interest rate		4.36%		4.36%
Total mortgages payable		$ 66,400,000		$ 66,400,000	66,400,000
Mortgages | First Mortgage | Fixed rate | Marlton, NJ
Debt Instrument [Line Items]
Interest rate		3.86%		3.86%
Total mortgages payable		$ 37,400,000		$ 37,400,000	37,400,000
Mortgages | First Mortgage | Fixed rate | East Hanover Warehouses
Debt Instrument [Line Items]
Interest rate		4.09%		4.09%
Total mortgages payable		$ 40,700,000		$ 40,700,000	40,700,000
Mortgages | First Mortgage | Fixed rate | Union (2445 Springfield Avenue), NJ
Debt Instrument [Line Items]
Interest rate		4.01%		4.01%
Total mortgages payable		$ 45,600,000		$ 45,600,000	45,600,000
Mortgages | First Mortgage | Fixed rate | Freeport (437 East Sunrise Highway), NY
Debt Instrument [Line Items]
Interest rate		4.07%		4.07%
Total mortgages payable		$ 43,100,000		$ 43,100,000	43,100,000
Mortgages | First Mortgage | Fixed rate | Garfield, NJ
Debt Instrument [Line Items]
Interest rate		4.14%		4.14%
Total mortgages payable		$ 40,300,000		$ 40,300,000	40,300,000
Mortgages | First Mortgage | Fixed rate | Mount Kisco (Target)
Debt Instrument [Line Items]
Interest rate		6.40%		6.40%
Total mortgages payable		$ 12,952,000		$ 12,952,000	13,488,000
Mortgages | First Mortgage | Fixed rate | Brooklyn (Kingswood Center)
Debt Instrument [Line Items]
Interest rate		5.07%		5.07%
Total mortgages payable		$ 71,696,000		$ 71,696,000	0
Effective interest rate		3.50%		3.50%
Unamortized debt premium		$ 6,200,000		$ 6,200,000
Mortgages | First Mortgage | Fixed rate | Montclair, NJ
Debt Instrument [Line Items]
Interest rate		3.15%		3.15%
Total mortgages payable		$ 7,250,000		$ 7,250,000	$ 0

MORTGAGES PAYABLE - Schedule of

MORTGAGES PAYABLE - Schedule of Maturities (Details) $ in Thousands	Dec. 31, 2020USD ($)
Debt Disclosure [Abstract]
2021	$ 14,460
2022	103,526
2023	349,742
2024	163,625
2025	40,867
2026	231,056
Thereafter	$ 694,121

MORTGAGES PAYABLE - Narrative (

MORTGAGES PAYABLE - Narrative (Details)	May 31, 2020USD ($)	Mar. 07, 2017USD ($)extension_option	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2024	Aug. 31, 2023USD ($)	Jan. 01, 2021	Apr. 30, 2020USD ($)	Jan. 15, 2015USD ($)
Debt Instrument [Line Items]
Net carrying amount of real estate collateralizing indebtedness			$ 1,300,000,000		$ 1,300,000,000
Increase in credit facility		$ 100,000,000
Forgiveness of mortgage debt					30,000,000	$ 0	$ 11,537,000
Gain (loss) on extinguishment of debt					34,908,000	0	$ 2,524,000
Deferred financing costs, net of accumulated amortization of $4,819 and $3,765, respectively			3,347,000		3,347,000	3,877,000
Property Lease Guarantee
Debt Instrument [Line Items]
Maximum exposure, undiscounted			12,500,000		12,500,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000
Revolving Credit Facility | Revolving Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity												$ 500,000,000
Number of extension options | extension_option		2
Term of each extension option		6 months
Amounts drawn under credit facility			0		0
Gross debt issuance costs			$ 3,300,000		3,300,000	$ 3,900,000
Revolving Credit Facility | Revolving Credit Agreement | Maximum
Debt Instrument [Line Items]
Facility fee		30.00%
Financial covenants, maximum leverage ratio												0.60
Revolving Credit Facility | Revolving Credit Agreement | Minimum
Debt Instrument [Line Items]
Facility fee		15.00%
Financial covenants, minimum fixed charge coverage ratio		1.5
Revolving Credit Facility | Revolving Credit Agreement | LIBOR | Maximum
Debt Instrument [Line Items]
Interest rate spread on variable rate		1.50%
Revolving Credit Facility | Revolving Credit Agreement | LIBOR | Minimum
Debt Instrument [Line Items]
Interest rate spread on variable rate		1.05%
Mortgages | Montehiedra Town Center
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt					34,900,000
Mortgages | Montehiedra Town Center | Senior Loan
Debt Instrument [Line Items]
Face amount	$ 83,000,000			$ 82,000,000
Borrowing rate	5.33%			5.00%
Debt instrument, term				10 years
Mortgages | Montehiedra Town Center | Junior Loan
Debt Instrument [Line Items]
Face amount				$ 30,000,000
Borrowing rate				3.00%
Increase, accrued interest	$ 5,700,000			$ 5,400,000
Forgiveness of mortgage debt				30,000,000
Write off of deferred debt transaction cost				$ (100,000)
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 600,000,000
Proceeds from long-term lines of credit					$ 250,000,000
First Mortgage | Mortgages | Las Catalinas | Fixed rate
Debt Instrument [Line Items]
Interest rate spread on variable rate			50.00%
Face amount											$ 129,000,000
Borrowing rate			4.43%		4.43%					3.00%	4.43%
Increase, accrued interest					$ 6,500,000
Deferred financing costs, net of accumulated amortization of $4,819 and $3,765, respectively			$ 1,200,000		$ 1,200,000
First Mortgage | Mortgages | Las Catalinas | Fixed rate | Forecast
Debt Instrument [Line Items]
Borrowing rate								4.43%
Balloon payment to be paid									$ 72,500,000
First Mortgage | Mortgages | Montehiedra Town Center | Fixed rate | Senior Loan
Debt Instrument [Line Items]
Borrowing rate			5.00%		5.00%
First Mortgage | Mortgages | Montehiedra Town Center | Fixed rate | Junior Loan
Debt Instrument [Line Items]
Borrowing rate			0.00%		0.00%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Distributions to redeemable NCI (in dollars per unit)	$ 0.46	$ 0.22	$ 0.68	$ 0.88
Income tax (benefit) expense			$ (38,996)	$ 1,287	$ 3,519
Rental income			328,280	384,405	411,298
Deferred tax asset, net	$ 39,677		39,677	0
Valuation allowance	4,514		4,514	5
Deferred tax liabilities, net	0		0	(5,137)
U.S. state and local income tax			4,525	66	101
Puerto Rico
Income Tax Contingency [Line Items]
Income tax (benefit) expense			(43,500)	1,200	$ 3,300
Rental income			26,400	$ 9,400
U.S. state and local income tax			4,500
Puerto Rico
Income Tax Contingency [Line Items]
Deferred tax assets, gross	42,900		$ 42,900
Branch profit tax			10.00%
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%
Puerto Rico | Puerto Rico
Income Tax Contingency [Line Items]
Non-resident withholding tax percentage			29.00%
Deferred tax asset, net	4,500		$ 4,500
Valuation allowance	4,500		4,500
Montehiedra Town Center | Puerto Rico
Income Tax Contingency [Line Items]
Deferred tax asset, net	23,700		23,700
Deferred tax liabilities, net	(10,300)		(10,300)
Las Catalinas | Puerto Rico
Income Tax Contingency [Line Items]
Deferred tax asset, net	$ 29,500		$ 29,500

INCOME TAXES - Tax Status of Di

INCOME TAXES - Tax Status of Dividends Paid (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Dividend paid per share(1)	$ 0.68	$ 0.88	$ 0.88
Ordinary income	100.00%	83.00%	100.00%
Return of capital	0.00%	0.00%	0.00%
Capital gains	0.00%	17.00%	0.00%

INCOME TAXES - Income Tax Expen

INCOME TAXES - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Current:
U.S. federal income tax	$ 0	$ 0	$ 154
U.S. state and local income tax	4,525	66	101
Total current	5,818	917	815
Deferred:
U.S. federal income tax	(6)	0	0
U.S. state and local income tax	0	0	0
Total deferred	(44,814)	370	2,704
Total income tax expense (benefit)	(38,996)	1,287	3,519
Puerto Rico
Current:
U.S. state and local income tax	4,500
Puerto Rico income tax	1,293	851	560
Deferred:
Puerto Rico income tax	(44,808)	370	2,704
Total income tax expense (benefit)	$ (43,500)	$ 1,200	$ 3,300
ASC 842
Deferred:
Deferred rent credits				$ (7,100)
ASC 842 | Puerto Rico
Deferred:
Deferred rent credits				$ (800)

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Federal provision at statutory tax rate	$ 12,338	$ 24,672	$ 25,301
REIT income before income taxes not subject to federal tax provision	(12,339)	(24,677)	(14,390)
TRS permanent book to tax adjustments	0	0	(10,740)
State and local income tax provision, net of federal benefit	11	66	84
Puerto Rico income tax provision	(43,515)	1,221	3,264
Change in valuation allowance	4,509	5	0
Total income tax expense (benefit)	$ (38,996)	$ 1,287	$ 3,519

INCOME TAXES - Net Deferred Inc

INCOME TAXES - Net Deferred Income Tax Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Depreciation	$ 41,942	$ 0
Amortization of deferred financing costs	1,105	69
Rental revenue deemed uncollectible	2,109	461
Charitable contribution	7	5
Net operating loss	107	5
Valuation allowance	(4,514)	(5)
Total deferred tax assets	40,756	535
Deferred Tax Assets, Net	39,677	0
Deferred tax liabilities:
Depreciation	0	(4,416)
Straight line rent	(738)	(1,051)
Amortization of acquired leases	(228)	(205)
Accrued interest expense	(113)	0
Total deferred tax liabilities	1,079	5,672
Deferred tax liabilities, net	$ 0	$ (5,137)

LEASES - Additional Information

LEASES - Additional Information (Details) ft² in Thousands, $ in Thousands	Jul. 31, 2019lease	Dec. 31, 2020USD ($)ft²leaseproperty	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	Jan. 01, 2019property
Operating Leased Assets [Line Items]
Area of leased real estate property (in sq ft) | ft²		16,300
Additional rent based on percentage of tenants' sales or reimbursements			$ 2,000
Number of properties in operating lease portfolio | property		26			24
Operating lease ROU assets		$ 80,997	81,768
Operating lease liabilities		$ 74,972	79,913
Number of ground lease positions sold | lease		1
Proceeds from sale of ground lease		$ 0	6,949	$ 0
Gain on sale of ground lease		0	1,849	$ 0
Number of ground leases expired | lease	1
Finance lease right-of-use asset		2,724	2,737
Finance lease liability		2,993	2,982
Sunrise Mall
Operating Leased Assets [Line Items]
Operating lease ROU assets		5,700
Operating lease liabilities		$ 700
Tenant expense reimbursements
Operating Leased Assets [Line Items]
Rental revenue from tenant expense reimbursements			$ 108,700
Retail Shopping Centers and Malls
Operating Leased Assets [Line Items]
Number of operating leases | lease		1,100
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		22
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		80 years
Corporate Offices
Operating Leased Assets [Line Items]
Number of properties in operating lease portfolio | property		3
Lessee, operating lease term of contract		1 year
Ground Lease
Operating Leased Assets [Line Items]
Number of properties in operating lease portfolio | property			1
Operating lease ROU assets			$ 5,000

LEASES - Components of Rental R

LEASES - Components of Rental Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Fixed lease revenue	$ 235,488	$ 274,397
Variable lease revenue	92,792	110,008
Total rental revenue	$ 328,280	$ 384,405	$ 411,298

LEASES - Maturity Analysis of O

LEASES - Maturity Analysis of Operating Lease Payments to be Received as Lessor (Details) $ in Thousands	Dec. 31, 2020USD ($)
Leases [Abstract]
2021	$ 252,690
2022	241,036
2023	219,771
2024	186,531
2025	162,906
2026	142,130
Thereafter	703,522
Total undiscounted cash flows	$ 1,908,586

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 10,875	$ 11,730
Variable lease cost	2,792	2,736
Total lease expense	13,667	14,466
Sublease income	$ 17,700	$ 19,700

LEASES - Supplemental Cash Info

LEASES - Supplemental Cash Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 10,033	$ 10,698
Operating cash flows from finance lease	120	10
Financing cash flows from finance lease	11	8
Operating leases	1,740	98,980
Finance lease	$ 0	$ 2,991

LEASES - Supplemental Noncash I

LEASES - Supplemental Noncash Information Related Operating and Finance Leases (Details)	Dec. 31, 2020	Dec. 31, 2019
Operating leases
Weighted-average remaining lease term	15 years 8 months 12 days	15 years 3 months 18 days
Weighted-average discount rates	3.99%	4.03%
Finance lease
Finance Lease, Weighted Average Remaining Lease Term	35 years 2 months 12 days	36 years 2 months 12 days
Finance Lease, Weighted Average Discount Rate, Percent	4.01%	4.01%

LEASES - Maturity Analysis of_2

LEASES - Maturity Analysis of Operating and Finance Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating leases
2020	$ 9,363
2021	8,598
2022	8,486
2023	8,500
2024	6,599
2025	6,341
Thereafter	57,541
Total undiscounted cash flows	105,428
Present value discount	(30,456)
Discounted cash flows	74,972	$ 79,913
Finance lease
2020	109
2021	109
2022	109
2023	109
2024	109
2025	124
Thereafter	6,299
Total undiscounted cash flows	6,968
Present value discount	(3,975)
Discounted cash flows	$ 2,993	$ 2,982

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)property	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss on real estate	$ 3,055	$ 12,738	$ 5,574
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	$ 3,100	26,300	$ 5,600
Four 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 | property	4
Salem, NH | 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		3,100
West Babylon, NY | 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		2,500
Lodi, 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	$ 3,100
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value	0	0
Financial liabilities measured at fair value	0	0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value	0	0
Financial liabilities measured at fair value	0	$ 0
Level 3 | Real Estate | Fair Value, Measurements, Nonrecurring | Four 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	$ 38,500
Level 3 | Minimum | Capitalization Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate, measurement input	0.099
Level 3 | Minimum | Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate, measurement input	0.093
Level 3 | Maximum | Capitalization Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate, measurement input	0.121
Level 3 | Maximum | Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate, measurement input	0.108

FAIR VALUE MEASUREMENTS - Balan

FAIR VALUE MEASUREMENTS - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 384,572	$ 432,954	$ 440,430	$ 490,279
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	384,572	432,954
Carrying Amount | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	1,597,397	1,556,248
Unamortized debt issuance costs	(9,900)	(10,100)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	384,572	432,954
Fair Value | Mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgages payable	$ 1,611,868	$ 1,590,503

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) ft² in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2020USD ($)mall	Sep. 30, 2020	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)mall	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 10, 2020ft²	Jun. 13, 2018	Sep. 20, 2017mall
Loss Contingencies [Line Items]
Real estate redevelopment in process	$ 132,400,000			$ 132,400,000
Estimated cost to complete development and redevelopment projects	86,600,000			86,600,000
Casualty and impairment loss, net				3,055,000	$ 12,738,000	$ 5,574,000
Accrued environmental remediation costs	1,800,000			1,800,000	2,700,000
Insurance Coverage, Pollution Insurance, Limit Per Occurence	$ 50,000,000			50,000,000
Rental revenue deemed uncollectible				27,890,000	1,385,000	$ 4,138,000
COVID-19
Loss Contingencies [Line Items]
Write-off of receivables from straight-line rents and reserves				12,000,000
Lessor, Percent Received Of Monthly Revenue Billed	91.00%	87.00%	79.00%
Rent deferrals granted	$ 5,100,000			5,100,000
Lease abatements granted	$ 3,900,000			3,900,000
Rental revenue deemed uncollectible				27,900,000
Environmental Remediation
Loss Contingencies [Line Items]
Cost of services, environmental remediation				1,400,000	600,000
Shopping Center Wilkes-Barre, PA | Hurricane Maria | Tornado
Loss Contingencies [Line Items]
Percentage of rentable area damaged								13.00%
Net casualty gains				4,800,000
Cash advance received from insurance				5,500,000
Business interruption proceeds withing rental revenue				$ 300,000
Puerto Rico | Hurricane Maria | Hurricane
Loss Contingencies [Line Items]
Number of malls | mall									2
Rent abatements and tenant expense reimbursements					700,000
Loss contingency, insurance proceeds received					1,500,000
Provision (reversal) of provision for doubtful accounts					(400,000)
Puerto Rico | Hurricane Maria | Hurricane | Business Interruption
Loss Contingencies [Line Items]
Net casualty gains					1,200,000
Number of malls | mall	2			2
Hurricane-related expenses					300,000
Business interruption losses				$ (8,700,000)	$ 300,000
Insurance coverage, terrorism acts insurance, limit per occurrence			$ 2,300,000
Loss contingency, insurance proceeds received			3,300,000
Insurance settlements receivable			$ 14,300,000
Paramus, NJ | Century 21 Department Stores LLC | COVID-19
Loss Contingencies [Line Items]
Write-off of receivables from straight-line rents and reserves				2,500,000
Unusual Or Infrequent Item, Or Both, Area Of Real Estate Property Vacated | ft²							157
Unusuall Or Iinfrequent Item, Or Both, Annual Rental Revenue Of Vacated Property				4,400,000
Rental revenue deemed uncollectible				$ 2,100,000

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other assets	$ 5,953	$ 4,723
Deferred tax asset, net	39,677	0
Real estate held for sale	7,056	6,574
Finance lease right-of-use asset	2,724	2,737
Deferred financing costs, net of accumulated amortization of $4,819 and $3,765, respectively	3,347	3,877
Deposits for acquisitions	0	10,000
Prepaid expenses:
Real estate taxes	8,093	6,491
Insurance	1,583	1,520
Rent, licenses/fees	1,878	1,655
Prepaid expenses and other assets	70,311	37,577
Accumulated amortization, deferred financing costs	$ 4,819	$ 3,765

ACCOUNTS PAYABLE, ACCRUED EXP_3

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Dividend payable	$ 55,905	$ 0	$ 0
Deferred tenant revenue	26,594	26,224
Accrued capital expenditures and leasing costs	7,797	7,893
Finance lease liability	2,993	2,982
Accrued interest payable	11,095	9,729
Security deposits	5,884	5,814
Deferred tax liability, net	0	5,137
Accrued payroll expenses	5,797	5,851
Other liabilities and accrued expenses	16,915	13,014
Total accounts payable, accrued expenses and other liabilities	$ 132,980	$ 76,644

INTEREST AND DEBT EXPENSE (Deta

INTEREST AND DEBT EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income and Expenses [Abstract]
Interest expense	$ 68,184	$ 63,783	$ 61,989
Amortization of deferred financing costs	2,831	2,856	2,879
Total Interest and debt expense	$ 71,015	$ 66,639	$ 64,868

EQUITY AND NONCONTROLLING INT_2

EQUITY AND NONCONTROLLING INTEREST (Details) - USD ($)	Aug. 05, 2019	Jan. 15, 2015	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 28, 2019
Noncontrolling Interest [Line Items]
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01
Distributions to redeemable NCI (in dollars per unit)			$ 0.46	$ 0.22	$ 0.68	$ 0.88
Conversion rate to common shares					1
Payment for equity redemption of units					$ 0	$ 5,978,000	$ 0
Common limited partnership units issued (in shares)								5,700,000
Stock Repurchased During Period, Shares					5,873,923
Treasury Stock Acquired, Average Cost Per Share					$ 9.22
Stock Repurchased During Period, Value					$ 54,141,000
Stock Repurchase Program, Authorized Amount			$ 200,000,000		$ 200,000,000
Operating Partnership Units
Noncontrolling Interest [Line Items]
Equity redemption for cash (in shares)	357,998
Equity redemption price per unit (in dollars per share)	$ 16.70
Payment for equity redemption of units	$ 6,000,000
Operating Partnership Units | Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage					4.10%
LTIP Units
Noncontrolling Interest [Line Items]
Award vesting period					2 years
Number of equity awards issued (in shares)					297,195	276,482	444,954
Noncontrolling Interest | Sunrise Mall | Sunrise Mall
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage			17.50%		17.50%
Noncontrolling Interest | Walnut Creek (Mt. Diablo), CA
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage					5.00%
DRIP
Noncontrolling Interest [Line Items]
Number of equity awards issued (in shares)					3,445	6,920
Vornado Realty L.P. | Parent | Operating Partnership
Noncontrolling Interest [Line Items]
Noncontrolling interest percentage		5.40%			96.10%

EARNINGS PER SHARE AND UNIT - A

EARNINGS PER SHARE AND UNIT - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Options outstanding (in shares)	4,930,762	4,930,762	4,750,549	2,603,664
Stock options using the treasury stock method
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)	0	0	0
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)	77,289	100,406	188,329
Unvested restricted shares outstanding (in shares)	72,393

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net income attributable to common shareholders	$ 93,589	$ 109,523	$ 105,150
Less: Earnings allocated to unvested participating securities	(62)	(92)	(184)
Net income available for common shareholders - basic	93,527	109,431	104,966
OP and LTIP units	81	5	0
Net income available for common shareholders - dilutive	$ 93,608	$ 109,436	$ 104,966
Denominator:
Weighted average common shares outstanding - basic (in shares)	117,722	119,751	113,863
Effect of dilutive securities:
Assumed conversion of OP and LTIP units (in shares)	103	45	0
Weighted average common shares outstanding - diluted (in shares)	117,902	119,896	114,051
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.79	$ 0.91	$ 0.92
Earnings per common share - Diluted (in dollars per share)	$ 0.79	$ 0.91	$ 0.92
Urban Edge Properties LP
Numerator:
Net income attributable to common shareholders	$ 97,749	$ 116,222	$ 116,918
Less: Earnings allocated to unvested participating securities	(62)	(92)	(200)
Net income available for common shareholders - basic	$ 97,687	$ 116,130	$ 116,718
Denominator:
Weighted average common shares outstanding - basic (in shares)	121,957	126,333	126,198
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	77	100	188
Assumed conversion of OP and LTIP units (in shares)	777	45	0
Weighted average common shares outstanding - diluted (in shares)	122,811	126,478	126,386
Earnings per share available to common shareholders:
Earnings per common share - Basic (in dollars per share)	$ 0.80	$ 0.92	$ 0.92
Earnings per common share - Diluted (in dollars per share)	$ 0.80	$ 0.92	$ 0.92
Stock options using the treasury stock method
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	0	0	0
Restricted share awards
Effect of dilutive securities:
Stock options using treasure stock method and restricted stock awards (in shares)	77	100	188

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Details)

May 06, 2020$ / sharesshares

Feb. 20, 2020USD ($)shares

May 09, 2019$ / sharesshares

Apr. 04, 2019USD ($)shares

Apr. 01, 2019USD ($)

Feb. 27, 2019

Sep. 27, 2018

Feb. 22, 2018USD ($)companyshares

Feb. 24, 2017USD ($)

Dec. 31, 2020USD ($)$ / sharesshares

Dec. 31, 2019USD ($)$ / sharesshares

Dec. 31, 2018USD ($)$ / sharesshares

Feb. 10, 2021USD ($)

Dec. 31, 2017shares

Jan. 07, 2015shares

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

Unrecognized share-based compensation expense for nonvested awards

$ 15,100,000

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

2 years

Term of share-based compensation awards

10 years

Weighted average remaining contractual term of options outstanding

7 years 8 months 12 days

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

$ 3.88

$ 4.68

Number of options exercised (in shares) | shares

0

0

0

Intrinsic value of options outstanding

$ 0

Granted (in shares) | shares

0

180,213

2,146,885

LTIP Units

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

Number of equity awards issued (in shares) | shares

297,195

276,482

444,954

Award vesting period

2 years

Number of awards vested (in shares) | shares

433,016

131,884

24,722

Number of unvested awards (in shares) | shares

568,619

Weighted average remaining contractual period of nonvested awards

2 years 4 months 24 days

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

87,117

28,040

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

$ 8.03

$ 14.98

Stock Options

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

Expected option life

6 years 3 months

7 years

6 years 3 months

Expected volatility

30.98%

30.42%

32.23%

Risk-free interest rate

2.54%

3.00%

2.73%

Term of share-based compensation awards

10 years

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

31,679

34,638

103,814

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

$ 17.47

$ 19.15

$ 21.65

Number of awards vested (in shares) | shares

51,524

96,378

84,185

Grant date fair value of vested awards

$ 1,200,000

$ 2,300,000

$ 2,200,000

Number of unvested awards (in shares) | shares

72,393

95,165

162,577

175,430

Restricted Stock | Minimum

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

Award vesting period

1 year

Restricted Stock | Maximum

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

Award vesting period

3 years

DSUs | Trustees

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

Number of awards granted (in shares) | shares

12,121

5,608

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

$ 8.25

$ 15.60

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

2015 OPP

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

Unrecognized share-based compensation expense for nonvested awards

$ 0

2015 OPP | OPP Units

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

Aggregate notional amount

$ 10,200,000

Grant date fair value of plan

$ 3,900,000

Expected volatility

25.00%

Risk-free interest rate

1.20%

2015 OPP | OPP Units | Minimum

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

Expected daily return rate compared to peers

19.00%

2015 OPP | OPP Units | Maximum

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

Expected daily return rate compared to peers

27.00%

2017 OPP | OPP Units

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

Aggregate notional amount

$ 12,000,000

Grant date fair value of plan

$ 4,100,000

Expected volatility

19.70%

Risk-free interest rate

1.50%

2015 and 2017 OPPs | OPP Units

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

OPP award threshold, TSR level required

7.00%

OPP award threshold, TSR level required for multi-year period

21.00%

OPP award threshold, TSR level required for REIT peer group

5000.00%

OPP award threshold, TSR multi-year duration

3 years

Expected dividend rate

10.00%

Expected option life

3 years

Period for recognition of nonvested awards

5 years

Share-based compensation expense

$ 600,000

$ 1,400,000

$ 1,700,000

Unrecognized share-based compensation expense for nonvested awards

$ 200,000

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

6 months

2015 and 2017 OPPs | OPP Units | Year three

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

Vesting rights percentage

50.00%

2015 and 2017 OPPs | OPP Units | Year four

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

Vesting rights percentage

25.00%

2015 and 2017 OPPs | OPP Units | Year five

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

Vesting rights percentage

25.00%

2018 LTI Plan

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

Grant date fair value of plan

$ 700,000

Share-based compensation expense

$ 1,000,000

900,000

$ 1,000,000

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

18.00%

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

27.00%

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

36.00%

Number of REIT peer groups | company

14

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

3500.00%

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

5500.00%

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

7500.00%

2018 LTI Plan | LTIP Units

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

Number of equity awards issued (in shares) | shares

328,107

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

40.00%

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

100.00%

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

165.00%

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

40.00%

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

100.00%

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

165.00%

2018 LTI Plan | Performance-Based Shares

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

$ 3,600,000

Weighted percentage of equity awards

$ 0.80

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

25.00%

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

75.00%

2018 LTI Plan | Time-Based Shares

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

Weighted percentage of equity awards

$ 0.20

Number of awards granted (in shares) | shares

33,172

2018 LTI Plan | Time-Based Shares | Board of Directors Chairman

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

Award vesting period

3 years

2018 LTI Plan | Time-Based Shares | Chief Executive Officer

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

Award vesting period

4 years

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

2019 LTIP Plan

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

Share-based compensation expense

$ 1,900,000

$ 1,400,000

Number of REIT peer groups

14

2019 LTIP Plan | LTIP Units

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

OPP award threshold, TSR multi-year duration

3 years

2019 LTIP Plan | Performance-Based Shares

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

OPP award threshold, TSR multi-year duration

3 years

Weighted percentage of equity awards

$ 0.6666

Number of equity awards issued (in shares) | shares

489,319

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

40.00%

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

18.00%

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

100.00%

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

27.00%

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

165.00%

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

36.00%

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

40.00%

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

3500.00%

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

100.00%

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

5500.00%

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

165.00%

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

7500.00%

Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued

$ 4,300,000

2019 LTIP Plan | Time-Based Shares

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

Grant date fair value of plan

$ 2,000,000

Weighted percentage of equity awards

$ 0.3333

Award vesting period

3 years

Number of awards granted (in shares) | shares

112,910

2019 LTIP Plan | Time-Based Shares | Chief Executive Officer

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

Award vesting period

4 years

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]

Grant date fair value of plan

5,900,000

Weighted percentage of equity awards

$ 0.6666

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

40.00%

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

18.00%

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

100.00%

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

27.00%

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

165.00%

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

36.00%

Number of REIT peer groups

14

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

40.00%

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

3500.00%

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

100.00%

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

5500.00%

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

165.00%

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

7500.00%

Deferred Compensation Arrangement with Individual, Fair Value of Shares Issued

$ 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]

Grant date fair value of plan

$ 2,900,000

Share-based compensation expense

$ 1,100,000

Weighted percentage of equity awards

$ 0.3333

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 | Subsequent Event

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 | Subsequent Event

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

Weighted percentage of equity awards

0.50

2021 Long-term Incentive Plan | Time-Based Shares | Subsequent Event

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

Weighted percentage of equity awards

$ 0.50

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Options Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Shares Under Options
Outstanding at January 1 (in shares)	4,930,762	4,750,549	2,603,664
Granted (in shares)	0	180,213	2,146,885
Exercised (in shares)	0	0	0
Forfeited or expired (in shares)	0	0	0
Outstanding at December 31 (in shares)	4,930,762	4,930,762	4,750,549	2,603,664
Weighted Average Exercise Price per Share
Outstanding at January 1 (in dollars per share)	$ 22.89	$ 23.02	$ 24.09
Granted (in dollars per share)	0	19.53	21.71
Exercised (in dollars per share)	0	0	0
Forfeited or expired (in dollars per share)	0	0	0
Outstanding at December 31 (in dollars per share)	$ 22.89	$ 22.89	$ 23.02	$ 24.09
Outstanding, weighted average expected remaining term (in years)	4 years 25 days	4 years 5 months 15 days	4 years 5 months 23 days	4 years 4 months 24 days
Granted, weighted average expected remaining term (in years)		3 years 10 months 17 days	4 years 6 months 29 days
Exercisable at December 31, 2019 (in shares)	3,709,097
Exercisable at December 31, 2019, weighted average exercised price per share (in dollars per share)	$ 23.31

SHARE-BASED COMPENSATION - Fair

SHARE-BASED COMPENSATION - Fair Value Assumptions of Options Granted (Details) - Stock Options	Feb. 27, 2019	Sep. 27, 2018	Feb. 22, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.54%	3.00%	2.73%
Expected option life	6 years 3 months	7 years	6 years 3 months
Expected volatility	30.98%	30.42%	32.23%

SHARE-BASED COMPENSATION - Rest

SHARE-BASED COMPENSATION - Restricted Stock Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares
Unvested at January 1 (in shares)	95,165	162,577	175,430
Granted (in shares)	31,679	34,638	103,814
Vested (in shares)	(51,524)	(96,378)	(84,185)
Forfeited (in shares)	(2,927)	(5,672)	(32,482)
Unvested at December 31 (in shares)	72,393	95,165	162,577
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)	$ 22.16	$ 23.99	$ 26.05
Granted (in dollars per share)	17.47	19.15	21.65
Granted (in dollars per share)	23.88	24.19	25.67
Granted (in dollars per share)	18.79	22.11	23.32
Unvested at December 31 (in dollars per share)	$ 19.03	$ 22.16	$ 23.99

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - General and Administrative Expense - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 16,994	$ 13,549	$ 9,741
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	832	1,697	2,051
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	4,991	4,055	2,778
LTIP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	7,331	4,477	2,218
OPP Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	3,792	3,164	2,530
DSUs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total Share-based compensation expense	$ 48	$ 156	$ 164

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 5,431
Additions (Reversals) Expensed	4,138
Uncollectible Accounts Written-Off	(2,949)
Balance at End of Year	$ 6,620

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, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 1,597,397
Initial cost to company
Land	556,916
Building and improvements	1,533,055
Costs capitalized subsequent to acquisition	856,846
Gross amount at which carried at close of period
Land	568,662
Building and improvements	2,378,155
Total	2,946,817	$ 2,748,785	$ 2,768,992	$ 2,671,854
Accumulated depreciation and amortization	(730,366)	(671,946)	$ (645,872)	$ (587,127)
Aggregate cost for federal income tax purposes	1,500,000
First Mortgage | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	1,597,397	1,556,248
First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	1,428,026	1,386,748
Brick, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	50,000	50,000
Rockaway, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	27,800	27,800
East Brunswick, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	63,000	63,000
East Hanover (200 - 240 Route 10 West), NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	63,000	63,000
East Rutherford, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	23,000	23,000
Freeport (Freeport Commons), NY | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	43,100	43,100
Garfield, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	40,300	40,300
Hackensack, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	66,400	66,400
Jersey City (Hudson Mall), NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	22,904	23,625
Las Catalinas, Puerto Rico | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	127,669	129,335
Marlton, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	37,400	37,400
Middletown, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	31,400	31,400
Millburn, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	23,381	23,798
Montclair, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	7,250	0
North Bergen (Tonnelle Avenue), NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	100,000	100,000
North Plainfield, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	25,100	25,100
Totowa, NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	50,800	50,800
Union (2445 Springfield Avenue), NJ | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	45,600	45,600
Sunrise Mall | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	0
Brooklyn (Kingswood Center) | First Mortgage | Fixed rate | Mortgages
Gross amount at which carried at close of period
Total mortgages payable	71,696	$ 0
Real Estate
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1,597,397
Initial cost to company
Land	556,916
Building and improvements	1,533,055
Costs capitalized subsequent to acquisition	849,830
Gross amount at which carried at close of period
Land	568,662
Building and improvements	2,371,139
Total	2,939,801
Real Estate | Bethlehem, PA
Gross amount at which carried at close of period
Accumulated depreciation and amortization	(728,947)
Real Estate | Shopping Centers and Malls | Baltimore (Towson), MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	581
Building and improvements	3,227
Costs capitalized subsequent to acquisition	19,460
Gross amount at which carried at close of period
Land	581
Building and improvements	22,687
Total	23,268
Accumulated depreciation and amortization	(8,317)
Real Estate | Shopping Centers and Malls | Bensalem, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	2,727
Building and improvements	6,698
Costs capitalized subsequent to acquisition	1,630
Gross amount at which carried at close of period
Land	2,727
Building and improvements	8,328
Total	11,055
Accumulated depreciation and amortization	(4,488)
Real Estate | Shopping Centers and Malls | Bergen Town Center - East, Paramus, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	6,305
Building and improvements	6,824
Costs capitalized subsequent to acquisition	41,700
Gross amount at which carried at close of period
Land	6,305
Building and improvements	48,524
Total	54,829
Accumulated depreciation and amortization	(11,618)
Real Estate | Shopping Centers and Malls | Bergen Town Center - West, Paramus, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	300,000
Initial cost to company
Land	22,930
Building and improvements	89,358
Costs capitalized subsequent to acquisition	388,291
Gross amount at which carried at close of period
Land	43,630
Building and improvements	456,949
Total	500,579
Accumulated depreciation and amortization	(140,346)
Real Estate | Shopping Centers and Malls | Brick, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	50,000
Initial cost to company
Land	1,391
Building and improvements	11,179
Costs capitalized subsequent to acquisition	14,089
Gross amount at which carried at close of period
Land	1,391
Building and improvements	25,268
Total	26,659
Accumulated depreciation and amortization	(16,983)
Real Estate | Shopping Centers and Malls | Bronx (Shops at Bruckner), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	66,100
Building and improvements	259,503
Costs capitalized subsequent to acquisition	8,954
Gross amount at which carried at close of period
Land	61,618
Building and improvements	272,939
Total	334,557
Accumulated depreciation and amortization	(42,036)
Real Estate | Shopping Centers and Malls | Bronx (Shops at Bruckner), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	10,351
Initial cost to company
Land	0
Building and improvements	32,979
Costs capitalized subsequent to acquisition	56
Gross amount at which carried at close of period
Land	0
Building and improvements	33,035
Total	33,035
Accumulated depreciation and amortization	(3,708)
Real Estate | Shopping Centers and Malls | Bronx (1750-1780 Gun Hill Road), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	25,172
Initial cost to company
Land	6,427
Building and improvements	11,885
Costs capitalized subsequent to acquisition	23,410
Gross amount at which carried at close of period
Land	6,428
Building and improvements	35,294
Total	41,722
Accumulated depreciation and amortization	(11,776)
Real Estate | Shopping Centers and Malls | Broomall, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	850
Building and improvements	2,171
Costs capitalized subsequent to acquisition	1,821
Gross amount at which carried at close of period
Land	850
Building and improvements	3,992
Total	4,842
Accumulated depreciation and amortization	(3,089)
Real Estate | Shopping Centers and Malls | Buffalo (Amherst), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	5,743
Building and improvements	4,056
Costs capitalized subsequent to acquisition	16,555
Gross amount at which carried at close of period
Land	5,107
Building and improvements	21,247
Total	26,354
Accumulated depreciation and amortization	(10,023)
Real Estate | Shopping Centers and Malls | Cambridge (leased through 2033, MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(17)
Real Estate | Shopping Centers and Malls | Carlstadt (leased through 2050), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	16,458
Costs capitalized subsequent to acquisition	133
Gross amount at which carried at close of period
Land	0
Building and improvements	16,591
Total	16,591
Accumulated depreciation and amortization	(5,479)
Real Estate | Shopping Centers and Malls | Charleston (leased through 2063), SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(1,336)
Real Estate | Shopping Centers and Malls | Cherry Hill (Plaza at Cherry Hill), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,930
Initial cost to company
Land	14,602
Building and improvements	33,666
Costs capitalized subsequent to acquisition	(2,916)
Gross amount at which carried at close of period
Land	14,602
Building and improvements	30,750
Total	45,352
Accumulated depreciation and amortization	(5,329)
Real Estate | Shopping Centers and Malls | Commack (leased through 2021), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	43
Costs capitalized subsequent to acquisition	160
Gross amount at which carried at close of period
Land	0
Building and improvements	203
Total	203
Accumulated depreciation and amortization	(193)
Real Estate | Shopping Centers and Malls | Dewitt (leased through 2041), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(2,561)
Real Estate | Shopping Centers and Malls | Rockaway, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	27,800
Initial cost to company
Land	559
Building and improvements	6,363
Costs capitalized subsequent to acquisition	5,340
Gross amount at which carried at close of period
Land	559
Building and improvements	11,703
Total	12,262
Accumulated depreciation and amortization	(7,476)
Real Estate | Shopping Centers and Malls | East Brunswick, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	63,000
Initial cost to company
Land	2,417
Building and improvements	17,169
Costs capitalized subsequent to acquisition	7,462
Gross amount at which carried at close of period
Land	2,417
Building and improvements	24,631
Total	27,048
Accumulated depreciation and amortization	(19,259)
Real Estate | Shopping Centers and Malls | East Hanover (200 - 240 Route 10 West), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	63,000
Initial cost to company
Land	2,232
Building and improvements	18,241
Costs capitalized subsequent to acquisition	16,670
Gross amount at which carried at close of period
Land	2,671
Building and improvements	34,472
Total	37,143
Accumulated depreciation and amortization	(19,280)
Real Estate | Shopping Centers and Malls | East Hanover (280 Route 10 West), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	6,063
Gross amount at which carried at close of period
Land	0
Building and improvements	6,063
Total	6,063
Accumulated depreciation and amortization	(2,028)
Real Estate | Shopping Centers and Malls | East Rutherford, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	23,000
Initial cost to company
Land	0
Building and improvements	36,727
Costs capitalized subsequent to acquisition	1,270
Gross amount at which carried at close of period
Land	0
Building and improvements	37,997
Total	37,997
Accumulated depreciation and amortization	(9,683)
Real Estate | Shopping Centers and Malls | Freeport (240 West Sunrise Highway) (leased through 2040), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	177
Gross amount at which carried at close of period
Land	0
Building and improvements	177
Total	177
Accumulated depreciation and amortization	(2)
Real Estate | Shopping Centers and Malls | Freeport (Freeport Commons), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	43,100
Initial cost to company
Land	1,231
Building and improvements	4,747
Costs capitalized subsequent to acquisition	4,846
Gross amount at which carried at close of period
Land	1,593
Building and improvements	9,231
Total	10,824
Accumulated depreciation and amortization	(7,106)
Real Estate | Shopping Centers and Malls | Garfield, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	40,300
Initial cost to company
Land	45
Building and improvements	8,068
Costs capitalized subsequent to acquisition	46,419
Gross amount at which carried at close of period
Land	44
Building and improvements	54,488
Total	54,532
Accumulated depreciation and amortization	(18,785)
Real Estate | Shopping Centers and Malls | Glenolden, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	850
Building and improvements	1,820
Costs capitalized subsequent to acquisition	818
Gross amount at which carried at close of period
Land	850
Building and improvements	2,638
Total	3,488
Accumulated depreciation and amortization	(2,345)
Real Estate | Shopping Centers and Malls | Hackensack, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	66,400
Initial cost to company
Land	692
Building and improvements	10,219
Costs capitalized subsequent to acquisition	7,548
Gross amount at which carried at close of period
Land	692
Building and improvements	17,767
Total	18,459
Accumulated depreciation and amortization	(11,746)
Real Estate | Shopping Centers and Malls | Hazlet, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	7,400
Building and improvements	9,413
Costs capitalized subsequent to acquisition	(8,078)
Gross amount at which carried at close of period
Land	5,211
Building and improvements	3,524
Total	8,735
Accumulated depreciation and amortization	(34)
Real Estate | Shopping Centers and Malls | Huntington, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	21,200
Building and improvements	33,667
Costs capitalized subsequent to acquisition	9,662
Gross amount at which carried at close of period
Land	21,200
Building and improvements	43,329
Total	64,529
Accumulated depreciation and amortization	(12,364)
Real Estate | Shopping Centers and Malls | Inwood, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	12,419
Building and improvements	19,097
Costs capitalized subsequent to acquisition	3,163
Gross amount at which carried at close of period
Land	12,419
Building and improvements	22,260
Total	34,679
Accumulated depreciation and amortization	(9,256)
Real Estate | Shopping Centers and Malls | Jersey City (Hudson Commons), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,586
Initial cost to company
Land	652
Building and improvements	7,495
Costs capitalized subsequent to acquisition	950
Gross amount at which carried at close of period
Land	652
Building and improvements	8,445
Total	9,097
Accumulated depreciation and amortization	(4,000)
Real Estate | Shopping Centers and Malls | Jersey City (Hudson Mall), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,904
Initial cost to company
Land	15,824
Building and improvements	37,593
Costs capitalized subsequent to acquisition	(3,612)
Gross amount at which carried at close of period
Land	15,824
Building and improvements	33,981
Total	49,805
Accumulated depreciation and amortization	(5,838)
Real Estate | Shopping Centers and Malls | Kearny, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	309
Building and improvements	3,376
Costs capitalized subsequent to acquisition	17,700
Gross amount at which carried at close of period
Land	296
Building and improvements	21,089
Total	21,385
Accumulated depreciation and amortization	(6,358)
Real Estate | Shopping Centers and Malls | Lancaster, PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(1,028)
Real Estate | Shopping Centers and Malls | Las Catalinas, Puerto Rico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	127,669
Initial cost to company
Land	15,280
Building and improvements	64,370
Costs capitalized subsequent to acquisition	15,866
Gross amount at which carried at close of period
Land	15,280
Building and improvements	80,236
Total	95,516
Accumulated depreciation and amortization	(42,663)
Real Estate | Shopping Centers and Malls | Lodi (Route 17 North), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	238
Building and improvements	9,446
Costs capitalized subsequent to acquisition	916
Gross amount at which carried at close of period
Land	238
Building and improvements	10,362
Total	10,600
Accumulated depreciation and amortization	(5,016)
Real Estate | Shopping Centers and Malls | Lodi (Washington Street), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	7,606
Building and improvements	13,125
Costs capitalized subsequent to acquisition	(9,262)
Gross amount at which carried at close of period
Land	3,823
Building and improvements	7,646
Total	11,469
Accumulated depreciation and amortization	(2,984)
Real Estate | Shopping Centers and Malls | Manalapan, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	725
Building and improvements	7,189
Costs capitalized subsequent to acquisition	7,217
Gross amount at which carried at close of period
Land	1,046
Building and improvements	14,085
Total	15,131
Accumulated depreciation and amortization	(10,083)
Real Estate | Shopping Centers and Malls | Manchester, MO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,500
Initial cost to company
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	(417)
Real Estate | Shopping Centers and Malls | Marlton, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	37,400
Initial cost to company
Land	1,611
Building and improvements	3,464
Costs capitalized subsequent to acquisition	14,432
Gross amount at which carried at close of period
Land	1,454
Building and improvements	18,053
Total	19,507
Accumulated depreciation and amortization	(12,344)
Real Estate | Shopping Centers and Malls | Middletown, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	31,400
Initial cost to company
Land	283
Building and improvements	5,248
Costs capitalized subsequent to acquisition	2,836
Gross amount at which carried at close of period
Land	283
Building and improvements	8,084
Total	8,367
Accumulated depreciation and amortization	(6,729)
Real Estate | Shopping Centers and Malls | Millburn, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	23,381
Initial cost to company
Land	15,783
Building and improvements	25,837
Costs capitalized subsequent to acquisition	(246)
Gross amount at which carried at close of period
Land	15,783
Building and improvements	25,591
Total	41,374
Accumulated depreciation and amortization	(3,772)
Real Estate | Shopping Centers and Malls | Montclair, NJ
Initial cost to company
Land	66
Building and improvements	419
Costs capitalized subsequent to acquisition	1,439
Gross amount at which carried at close of period
Land	448
Building and improvements	1,476
Total	1,924
Accumulated depreciation and amortization	(800)
Real Estate | Shopping Centers and Malls | Montehiedra, Puerto Rico
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	81,141
Initial cost to company
Land	9,182
Building and improvements	66,751
Costs capitalized subsequent to acquisition	29,921
Gross amount at which carried at close of period
Land	9,267
Building and improvements	96,587
Total	105,854
Accumulated depreciation and amortization	(49,711)
Real Estate | Shopping Centers and Malls | Morris Plains, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	1,104
Building and improvements	6,411
Costs capitalized subsequent to acquisition	10,363
Gross amount at which carried at close of period
Land	1,104
Building and improvements	16,774
Total	17,878
Accumulated depreciation and amortization	(7,889)
Real Estate | Shopping Centers and Malls | Mount Kisco, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	12,952
Initial cost to company
Land	22,700
Building and improvements	26,700
Costs capitalized subsequent to acquisition	4,218
Gross amount at which carried at close of period
Land	23,297
Building and improvements	30,321
Total	53,618
Accumulated depreciation and amortization	(8,979)
Real Estate | Shopping Centers and Malls | New Hyde Park (leased through 2029), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	2,421
Building and improvements	1,200
Costs capitalized subsequent to acquisition	1,641
Gross amount at which carried at close of period
Land	2,421
Building and improvements	2,841
Total	5,262
Accumulated depreciation and amortization	(1,323)
Real Estate | Shopping Centers and Malls | Norfolk (leased through 2020), VA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(3,937)
Real Estate | Shopping Centers and Malls | North Bergen (Kennedy Boulevard), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(658)
Real Estate | Shopping Centers and Malls | North Bergen (Tonnelle Avenue), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	100,000
Initial cost to company
Land	24,978
Building and improvements	10,462
Costs capitalized subsequent to acquisition	66,254
Gross amount at which carried at close of period
Land	34,473
Building and improvements	67,221
Total	101,694
Accumulated depreciation and amortization	(19,910)
Real Estate | Shopping Centers and Malls | North Plainfield, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	25,100
Initial cost to company
Land	6,577
Building and improvements	13,983
Costs capitalized subsequent to acquisition	790
Gross amount at which carried at close of period
Land	6,577
Building and improvements	14,773
Total	21,350
Accumulated depreciation and amortization	(5,046)
Real Estate | Shopping Centers and Malls | Paramus (leased through 2033), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(5,537)
Real Estate | Shopping Centers and Malls | Queens, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	14,537
Building and improvements	12,304
Costs capitalized subsequent to acquisition	4,269
Gross amount at which carried at close of period
Land	14,537
Building and improvements	16,573
Total	31,110
Accumulated depreciation and amortization	(2,259)
Real Estate | Shopping Centers and Malls | Rochester (Henrietta) (leased through 2026), NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	2,647
Costs capitalized subsequent to acquisition	1,181
Gross amount at which carried at close of period
Land	0
Building and improvements	3,828
Total	3,828
Accumulated depreciation and amortization	(3,600)
Real Estate | Shopping Centers and Malls | Rockville, MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	3,470
Building and improvements	20,599
Costs capitalized subsequent to acquisition	3,101
Gross amount at which carried at close of period
Land	3,470
Building and improvements	23,700
Total	27,170
Accumulated depreciation and amortization	(9,705)
Real Estate | Shopping Centers and Malls | Revere (Wonderland), MA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	6,323
Building and improvements	17,130
Costs capitalized subsequent to acquisition	(10)
Gross amount at which carried at close of period
Land	6,323
Building and improvements	17,120
Total	23,443
Accumulated depreciation and amortization	(1,270)
Real Estate | Shopping Centers and Malls | Salem (leased through 2061), NH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	6,083
Building and improvements	0
Costs capitalized subsequent to acquisition	(2,788)
Gross amount at which carried at close of period
Land	2,994
Building and improvements	301
Total	3,295
Accumulated depreciation and amortization	0
Real Estate | Shopping Centers and Malls | South Plainfield (leased through 2039)(3), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	10,044
Costs capitalized subsequent to acquisition	1,926
Gross amount at which carried at close of period
Land	0
Building and improvements	11,970
Total	11,970
Accumulated depreciation and amortization	(4,054)
Real Estate | Shopping Centers and Malls | Springfield (leased through 2025), PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	11,446
Building and improvements	21,262
Costs capitalized subsequent to acquisition	4,971
Gross amount at which carried at close of period
Land	11,446
Building and improvements	26,233
Total	37,679
Accumulated depreciation and amortization	(11,099)
Real Estate | Shopping Centers and Malls | Totowa, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	50,800
Initial cost to company
Land	120
Building and improvements	11,994
Costs capitalized subsequent to acquisition	4,883
Gross amount at which carried at close of period
Land	92
Building and improvements	16,905
Total	16,997
Accumulated depreciation and amortization	(14,883)
Real Estate | Shopping Centers and Malls | Turnersville, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	900
Building and improvements	1,342
Costs capitalized subsequent to acquisition	4,067
Gross amount at which carried at close of period
Land	900
Building and improvements	5,409
Total	6,309
Accumulated depreciation and amortization	(2,563)
Real Estate | Shopping Centers and Malls | Union (2445 Springfield Avenue), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	45,600
Initial cost to company
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	(15,312)
Real Estate | Shopping Centers and Malls | Union (Route 22 and Morris Avenue), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	3,025
Building and improvements	7,470
Costs capitalized subsequent to acquisition	7,118
Gross amount at which carried at close of period
Land	3,025
Building and improvements	14,588
Total	17,613
Accumulated depreciation and amortization	(6,040)
Real Estate | Shopping Centers and Malls | Vallejo (leased through 2043), CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	2,945
Costs capitalized subsequent to acquisition	221
Gross amount at which carried at close of period
Land	0
Building and improvements	3,166
Total	3,166
Accumulated depreciation and amortization	(1,276)
Real Estate | Shopping Centers and Malls | Walnut Creek (1149 South Main Street), CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(2,890)
Real Estate | Shopping Centers and Malls | Walnut Creek (Mt. Diablo), CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	5,909
Building and improvements	0
Costs capitalized subsequent to acquisition	1,351
Gross amount at which carried at close of period
Land	5,908
Building and improvements	1,352
Total	7,260
Accumulated depreciation and amortization	(285)
Real Estate | Shopping Centers and Malls | Watchung, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	26,613
Initial cost to company
Land	4,178
Building and improvements	5,463
Costs capitalized subsequent to acquisition	2,751
Gross amount at which carried at close of period
Land	4,441
Building and improvements	7,951
Total	12,392
Accumulated depreciation and amortization	(6,338)
Real Estate | Shopping Centers and Malls | Westfield, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	4,730
Initial cost to company
Land	5,728
Building and improvements	4,305
Costs capitalized subsequent to acquisition	(4,459)
Gross amount at which carried at close of period
Land	3,349
Building and improvements	2,225
Total	5,574
Accumulated depreciation and amortization	(93)
Real Estate | Shopping Centers and Malls | Wheaton (leased through 2060)(3), MD
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
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	(1,912)
Real Estate | Shopping Centers and Malls | Wilkes-Barre (461 - 499 Mundy Street), PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	6,053
Building and improvements	26,646
Costs capitalized subsequent to acquisition	(16,304)
Gross amount at which carried at close of period
Land	3,047
Building and improvements	13,348
Total	16,395
Accumulated depreciation and amortization	(102)
Real Estate | Shopping Centers and Malls | Woodbridge (Woodbridge Commons), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,100
Initial cost to company
Land	1,509
Building and improvements	2,675
Costs capitalized subsequent to acquisition	5,542
Gross amount at which carried at close of period
Land	1,539
Building and improvements	8,187
Total	9,726
Accumulated depreciation and amortization	(3,700)
Real Estate | Shopping Centers and Malls | Woodbridge (Plaza at Woodbridge), NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	55,340
Initial cost to company
Land	21,547
Building and improvements	75,017
Costs capitalized subsequent to acquisition	2,370
Gross amount at which carried at close of period
Land	19,218
Building and improvements	79,716
Total	98,934
Accumulated depreciation and amortization	(7,916)
Real Estate | Shopping Centers and Malls | Wyomissing (leased through 2025), PA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	2,646
Costs capitalized subsequent to acquisition	403
Gross amount at which carried at close of period
Land	0
Building and improvements	3,049
Total	3,049
Accumulated depreciation and amortization	(2,629)
Real Estate | Shopping Centers and Malls | Yonkers, NY
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	28,482
Initial cost to company
Land	63,341
Building and improvements	110,635
Costs capitalized subsequent to acquisition	16,052
Gross amount at which carried at close of period
Land	65,941
Building and improvements	124,087
Total	190,028
Accumulated depreciation and amortization	(14,717)
Real Estate | Shopping Centers and Malls | Sunrise Mall
Initial cost to company
Land	44,035
Building and improvements	3,084
Costs capitalized subsequent to acquisition	0
Gross amount at which carried at close of period
Land	44,035
Building and improvements	3,084
Total	47,119
Accumulated depreciation and amortization	0
Real Estate | Shopping Centers and Malls | Kingswood Crossing
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	8,150
Building and improvements	64,159
Costs capitalized subsequent to acquisition	35
Gross amount at which carried at close of period
Land	8,150
Building and improvements	64,194
Total	72,344
Accumulated depreciation and amortization	(1,729)
Real Estate | Shopping Centers and Malls | Brooklyn (Kingswood Center)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	71,696
Initial cost to company
Land	15,690
Building and improvements	76,766
Costs capitalized subsequent to acquisition	(1,644)
Gross amount at which carried at close of period
Land	15,690
Building and improvements	75,122
Total	90,812
Accumulated depreciation and amortization	(2,235)
Real Estate | Warehouses | East Hanover, NJ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	40,700
Initial cost to company
Land	576
Building and improvements	7,752
Costs capitalized subsequent to acquisition	31,081
Gross amount at which carried at close of period
Land	691
Building and improvements	38,718
Total	39,409
Accumulated depreciation and amortization	(20,571)
Leasehold Improvements, Equipment and Other
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company
Land	0
Building and improvements	0
Costs capitalized subsequent to acquisition	7,016
Gross amount at which carried at close of period
Land	0
Building and improvements	7,016
Total	7,016
Accumulated depreciation and amortization	$ (1,419)
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, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate
Balance at beginning of period	$ 2,748,785	$ 2,768,992	$ 2,671,854
Real estate before impairments and assets written-off	2,990,671	2,875,880	2,806,757
Less: Impairments, assets sold, written-off or reclassified as held for sale	(43,854)	(127,095)	(37,765)
Balance at end of period	2,946,817	2,748,785	2,768,992
Accumulated Depreciation
Balance at beginning of period	730,366	671,946	645,872
Additions charged to operating expenses	81,691	80,774	80,578
Accumulated depreciation before depreciation of assets written-off	753,637	726,646	667,705
Less: Accumulated depreciation on assets written-off	(23,271)	(54,700)	(21,833)
Balance at end of period	671,946	645,872	587,127
Land
Real Estate
Additions during the period:	68,536	13,441	4,120
Buildings & improvements
Real Estate
Additions during the period:	145,800	31,806	12,394
Construction in progress
Real Estate
Additions during the period:	$ 27,550	$ 61,641	$ 118,389

Uncategorized Items - ue-202012

Label	Element	Value
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,918,000)
Subsidiaries [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,918,000)
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	0
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	55,905,000
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	0
Subsidiaries [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (2,918,000)