Urban Edge Properties · NYSE:UE
Urban Edge Properties — Q4 2021 Earnings Presentation
21 slides from Urban Edge Properties's earnings presentation, Feb 16, 2022
Slide 1: 4Q21 Earnings Conference Call Presentation
4Q21 Earnings Conference Call Presentation
Slide 2: About Urban Edge
4Q21 Earnings Conference Call Presentation| 2 About Urban Edge Portfolio overview: 75 properties with 17.0M sf retail GLA and 1.3M sf industrial GLA. ~90% of total portfolio value and NOI is from properties located in the DC to Boston corridor Asset quality: our properties are anchored by high-perfo
Slide 3: Highlights
4Q21 Earnings Conference Call Presentation| 3 Highlights 1. Fourth quarter 2021 results: - FFO as Adjusted was $0.27/share, up 18% compared to 4Q20 - SP NOI including redevelopment increased by 16% vs. 4Q20 - SP leased occupancy increased 120 bps to 94.1% from 3Q21, an increase of 250 bps compared t
Slide 4: Earnings Growth Drivers
4Q21 Earnings Conference Call Presentation| 4 Earnings Growth Drivers Category Short-term (one year) Medium-term (2-3 years) Long-term (>3 years) Organic rent growth Contractual rent bumps / occupancy gains / renewals with positive spreads Delivery of redevelopment and anchor releasing projects Full
Slide 5: Leases Executed but Not Yet Rent Commenced
4Q21 Earnings Conference Call Presentation| 5 Leases Executed but Not Yet Rent Commenced $6.4M $21.6M $22.5M Year Leases included in redevelopment projects Other Leases Gross Rent ($ in Millions) 4.1 12.1 14.4 16.9 17.8 2.3 4.5 4.7 4.7 4.7 $0 $5 $10 $15 $20 $25 2022 2023 2024 2025 2026 $16.6M $19.1M
Slide 6: Large Anchor Leasing Update
4Q21 Earnings Conference Call Presentation| 6 Large Anchor Leasing Update Property New Tenant/Prospect SF Stabilization / Status Executed: Salem Fun City 39,000 4Q21 Briarcliff Commons Uncle Giuseppe’s 38,000 1Q22 Broomall Commons Amazon Fresh 45,000 2Q22 Lodi AAA Wholesale Group 127,000 2Q22 Huntin
Slide 7: Development
4Q21 Earnings Conference Call Presentation| 7 Development Marlton CommonsMarlton Commons
Slide 8: Briarcliff Commons | Uncle Giuseppe's
4Q21 Earnings Conference Call Presentation| 8 Briarcliff Commons ǀ Uncle Giuseppe’s OPENED JANUARY 2022
Slide 9: Briarcliff Commons, Morris Plains, NJ
4Q21 Earnings Conference Call Presentation| 9 Briarcliff Commons | Morris Plains, NJ Uncle Giuseppe’s Marketplace Opened January 2022 BEFORE AFTER
Slide 10: Bergen Town Center, Paramus, NJ
4Q21 Earnings Conference Call Presentation| 10 Bergen Town Center | Paramus, NJ Ground-up development of 80K sf medical office building for Hackensack Meridian Health on vacant outparcel facing Route 4 Target Stabilization 2Q25
Slide 11: Lodi, Lodi, NJ
4Q21 Earnings Conference Call Presentation| 11 Lodi | Lodi, NJ AFTER BEFORE Converted former National Wholesale Liquidators to a hybrid industrial and retail facility for AAA Wholesale Target Stabilization 2Q22
Slide 12: Broomall Commons, Broomall, PA
4Q21 Earnings Conference Call Presentation| 12 Broomall Commons | Broomall, PA Retenant 45,000 sf of former Giant Food space with Amazon Fresh Target Stabilization 2Q22 – Phase A AFTER BEFORE
Slide 13: Huntington Commons, Huntington, NY
4Q21 Earnings Conference Call Presentation| 13 Huntington Commons | Huntington, NY AFTER BEFORE Retenant former Kmart box with ShopRite and Marshalls Target Stabilization 3Q22 – Phase A
Slide 14: Shops at Bruckner, Bronx, NY
4Q21 Earnings Conference Call Presentation| 14 Shops at Bruckner | Bronx, NY AFTER BEFORE Relocating Jimmy Jazz, adding Five Below (Phase A/stab 4Q22) Retenanting former Fallas space with Aldi and national tenant (Phase B/ stab 2Q23)
Slide 15: Acquisition Update
4Q21 Earnings Conference Call Presentation| 15 Acquisition Update
Slide 16: Woodmore Towne Centre | Glenarden, MD
4Q21 Earnings Conference Call Presentation| 16 Woodmore Towne Centre ǀ Glenarden, MD ACQUIRED DECEMBER 2021
Slide 17: Woodmore Towne Centre Highlights
4Q21 Earnings Conference Call Presentation| 17 Woodmore Towne Centre Highlights Grocery anchored market dominant retail destination Strong and stable income security Dominant tenant lineup <2 miles from the new University of Maryland capital region medical center • 712,066 square foot grocery anchor
Slide 18: 2022 ESG Focus Areas
4Q21 Earnings Conference Call Presentation| 18 2022 ESG Focus Areas We performed a gap analysis based on our first GRESB submission to identify the biggest opportunities to improve our oversight and management of ESG performance Priorities Include Creating and implementing an environmental managemen
Slide 19: Forward-Looking Statements
4Q21 Earnings Conference Call Presentation| 19 Forward-Looking Statements Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financia
Slide 20: Non-GAAP Financial Measures & Operating Metrics
4Q21 Earnings Conference Call Presentation| 20 Non-GAAP Financial Measures & Operating Metrics Non-GAAP Financial Measures The Company uses certain non-GAAP performance measures, in addition to the primary GAAP presentations, as we believe these measures improve the understanding of the Company's op
Slide 21: Non-GAAP Financial Measures & Operating Metrics (continued)
4Q21 Earnings Conference Call Presentation| 21 Non-GAAP Financial Measures & Operating Metrics (continued) • Same-property NOI: The Company provides disclosure of NOI on a same-property basis, which includes the results of properties that were owned and operated for the entirety of the reporting per
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