Urban Edge Properties · NYSE:UE
Urban Edge Properties — Investor Presentation (November 2016)
51 slides from Urban Edge Properties's investor presentation, Nov 14, 2016
Slide 1: Urban Edge Properties
URBAN EDGE PROPERTIES
Slide 2: Forward-looking statements
Certain statements contained in this constitute f d-look statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are not guarantees of future performance. They represen
Slide 3: Investment highlights
Fi 2 over two-thirds of total NO! + Weighted Average Population / Income (3 miles) 174.800 / $90,300 + Average Supermarket Sales PSF $764 + Average Base Rent PSF $19.60 Est. Est. % Est value Cost Yield reation Status Activ $132M 13% si7™M Pipeline $119M 8% S115M Planning, leasing and public processi
Slide 4: DC to Boston corridor concentration
+ 71 of the Companys 83 properties representing ~86% of NOlare situated in the DC to Boston corridor * Most heavily urbanized region in the US + Population of 50 million 931 people per square mile, over 10x higher than the US average
Slide 5: New York Metropolitan Region
PERSONS PER ‘SO. MILE (2010) (Aisin = New York. * Ne “¢f pT Connseticut 50 LONG ISLAND. a - + New York Metropolitan Region represents 69% of NOI + 46 properties + 9.3 million SF 20 Miles
Slide 6: Gross Leasable Area and portfolio metrics
Gross Leasable Area (in thousands) Retail Portfolio ® Warehouse Portfolio Total Portfolio. Percent Leased Retail Portfolio ® Warehouse Portfolio Total Portfolio. Weighted Avg. Annual Base Rent PSF ® ‘Same Property NOI Growth (Y/Y) ® FFO as Adjusted, per Share 3016 13.829 942 77. 96.6% 91.7% 96.3% $1
Slide 7: Tenant data and top ten tenants
9% OF TOTAL ABR Tenant Data BR PSF of Stores Credit Ratings SF (000s) Top Ten Tenants | 29 23% 2.3% i Lun == YK sears
Slide 8: Board of Trustees and Management Team
BOARD OF TRUSTEES MANAGEMENT TEAM TRUSTEE AFFILIATION NAME ROLE Jeffrey Olson Steven Roth Michael Gould Steven Grapstein Steven Guttman Amy Lane Kevin O'Shea Chairman and CEO, Urban Edge Properties Chairman and CEO, Vornado Realty Trust Former Chairman and CEO, Bloomingdale's Former orporation Farra
Slide 9: Key Leverage Metrics
Key Leverage Metrics® Net Debt to Adjusted EBITDA Adjusted EBITDA to Fixed Charges Net Debt to Total Market Capitalization Weighted Average Term to Maturity Balance Sheet Strategy Liquidity ® Net Debt to Cashonbaance sheet: $150M SEE feliseteeTeN <<6,0% Lineot Credit Capacity $500M 2.6x tormedGhayes
Slide 10: Investment Approach
Investment Approach + Generate returns exceeding the Company's cost of capital on a risk-adjusted basis + NAV/share is the primary metric guiding decisions Acquisitions + Focused on the Washington, DC to Bost id the New York : Larger centers with multiple anchors acluding grocers and with below-mark
Slide 11: Active Projects & Projects Pending Stabilization
ACTIVE PROJECTS & PROJECTS PENDING STABILIZATION Dollars in thousands Est.Gross Est.% Est.Value Target Property Project Description Cost® Yield Creation® _Stab.”_Leasing Status® Bruckner Commons Renovating and retenanting $38,400 8% — $20,400 2Q18 _ ShopRite Executed Ea 24000 12% 21,700 2017 92% Lea
Slide 12: Pipeline projects
Dollars in thousands Target Est.Gross Stab. Property Project Description Cost __Year® Project Status? Bergen Town Center Expanding, retenanting and developing $72,000 2018 _Phasedredevelopment approved pads 2020 Montehiedra Outparcel Developing 20K +/- sf of retail 7400 2018 Evaluating multiple opti
Slide 13: Future Value Creation
FUTURE VALUE CREATION Bruckner Commons Analyzing various redevelopment scenarios including recapturing Kmart and Toys"R"Us Huntington Comma ith the 102K sf Kmart box fanding building Analyzing repositioning op Expanding cente sification through rezoning Estimated cost for these projects is $400M-$50
Slide 14: Slide 14
Slide 15: Bruckner Commons, Bronx, NY
BRUCKNER COMMONS Bronx, NY ~y ISS Project Description Estimated Value Creation 91K sf of retail Executed lease Cap Rate 5.00% g Incremental Value $58.7M. $38.4M Value Creation $20.4M Target Stabilization: 2018
Slide 16: East Hanover Warehouse, East Hanover, NJ
Slide 17: Outlets at Montehiedra, San Juan, PR
OUTLETS AT MONTEHIEDRA SAN JUAN, PR Project Description Estimated Value Creation $2.6M arch rented cane FEOue food uses. 54% of le total 117K sf leasing workload is complete. Nike, Polo pe incremental Value $34.9M uw struction. el lobby Cost $20.8M is Value Creation $14.1M Target Stabilization: 2018
Slide 18: Garfield Commons, Garfield, NJ
GARFIELD CO MMONS GARFIELD, NJ Cie elles Sa mae Project Description Estimated Value Creation d ! $1.5M 0 is fs Cap Rate 5.25% Incremental Value $29.0M. Cost 318.8M Target Stabilization: 4Q17 Value Creation $10.2M
Slide 19: West End Commons, North Plainfield, NJ
WEST END COMMONS norTH PLAINFIELD, NJ % A Sabie SS She Estimated Value Creation pe Incremental NOI $1.3M Placed Cap Rate 5.25% oe eas hehe Incremental Value $24.5M. Cost $7.8M Value Creation $16.6M Target Stabilization: 4Q17 19
Slide 20: Goucher Commons, Towson, MD
GOUCHER COMMONS Towson, mp ae Project Description Estimated Value Creation Recaptured a 39K sf grocery store paying $6 psf. Redemising for Incremental NOI $0.9M Utta and Tu Cap Rate ie: Incremental Value $17.7M Cost $70M Target Stabilization: 4Q17 Value Creation $10.7M %
Slide 21: Hackensack Commons, Hackensack, NJ
HACKENSACK COMMONS HACKENSACK, NJ Project Description executed), a 37 unit, California-based grocery chain, Target Stabilization: 1018 Estimated Value Creation Incremental NOI $2.1M Cap Rate 5.25% Incremental Value $40.9 5.2M Value Creation $35.7M
Slide 22: Turnersville, Turnersville, NJ
TURNERSVILLE TuRNERSVILLE, NJ Project Description Estimated Value cen 5 Incremental NOI $0.31 Cap Rate Bee (Pad) Incremental Value $5.2M Cost $2.1M Target Stabilization: 3917 Value Creation $3.1M
Slide 23: Governors Commons, Glen Burnie, MD
GOVERNORS COMMONS GLEN BURNIE, MD Target Stabilization: 1018 Estimated Value Creation Incremental NOI $0.1M Cap Rate 7.00% Incremental Value $1.8M Cost $1.3M. Value Creation $0.5M
Slide 24: ae 30K st. former Barnes Incremental NOI
ae 30K st. former Barnes Incremental NOI $70 psf to $115 psf. or Rate Incremental Value Cost Target Stabilization: 2017 Value Creation
Slide 25: Rockaway, NJ
SUL AIMEE eS ROCKAWAY, NJ Project Description Estimated Value Creation ill Incremental NOI $0.1M Cap Rate 5.50% (Pad) Incremental Value $L4M Cost ‘Target Stabilization: 2017 Value Creation $1.3M
Slide 26: Completed - Pending Stabilization
Incremental NOI eee Cap Rate Incremental Value Cost Completed - Pending Stabilization . Value Creation
Slide 27: Completed - Pending Stabilization
low-paying car Panera whi Incremental NOI opened in February 2016, Incremental Value Cost Completed Pending Stabilization Value Creation
Slide 28: Freeport Commons, Freeport, NY
FREEPORT COMMONS Freeport, NY Project Description formerly occupied by Cablevision. Estimated Value oston Incremental NOI 9M Cap Rate sane Incremental Value $18.6M 0.1M. Value Creation $18.5M
Slide 29: Slide 29
Slide 30: Target Stabilization Year: 2018-2020
Target Stabilization Year: 2018-2020
Slide 31: Outlets at Montehiedra, San Juan, PR
OUTLETS AT MONTEHIEDRA SAN JUAN, PR Project Description ‘Target Stabilization Year: 2018
Slide 32: Kearny Commons, Kearny, NJ
KEARNY COMMONS Kearny, NJ Project Description Target Stabilization Year: 2018
Slide 33: Hanover Commons, East Hanover, NJ
HANOVER COMMONS EAST HANOVER, NJ —e = = rr an Project Description ‘Target Stabilization Year: 2018
Slide 34: Garfield Commons, Garfield, NJ
GARFIELD CO MMONS GARFIELD, NJ Target Stabilization Year: 2019
Slide 35: Marlton Commons, Marlton, NJ
MARLTON COMMONS marLTon, NJ Te EE AB Project Description Target Stabilization Year: 2018
Slide 36: Briarcliff Commons, Morris Plains, NJ
Slide 37: Hubbards Commons, West Babylon, NY
HUBBARDS COMMONS west BABYLON, NY Project Description Target Stabilization Year: 2018
Slide 38: Huntington Commons, Huntington, NY
HUNTINGTON COMMONS dunTINGTON, NJ = Fc» | af ; ~ “2 2 eed Project Description Convertir Target Stabilization Year: 2018
Slide 39: Target Stabilization Year: 2019
Seoee is ‘Target Stabilization Year: 2019
Slide 40: Mt. Kisco Commons, Mount Kisco, NY
MT. KISCO COMMONS mount kisco, Ny Project Description Target Stabilization Year: 2019
Slide 41: Ground Lease Pad Opportunities
GROUND LEASE PAD OPPORTUNITIES Project Description Target Stabilization Year: 2018
Slide 42: Lawnside Commons, Lawnside, NJ
Slide 43: Cherry Hill Commons, Cherry Hill, NJ
Slide 44: Bronx, NY
GUN a SUNS BRONX, NY Target Stabilization Year: 2019
Slide 45: Rockaway River Commons, Rockaway, NJ
Slide 46: Slide 46
Slide 47: Bruckner Commons, Bronx, NY
BRUCKNER COMMONS Bronx, NY
Slide 48: Huntington Commons, Huntington, NY
Slide 49: Brunswick Commons, East Brunswick, NJ
BRUNSWICK COMMONS EasT BRUNSWICK, NJ ject Description Evaluating expansion of the center by 10K sf.
Slide 50: 1959
1959
Slide 51: Urban Edge Properties
URBAN EDGE PROPERTIES
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