ue-20210929

Maryland

(Urban Edge Properties)

001-36523

(Urban Edge Properties)

47-6311266

Delaware

(Urban Edge Properties LP)

333-212951-01

(Urban Edge Properties LP)

36-4791544

(State or other jurisdiction of incorporation or organization)

(Commission File Number)

(I.R.S. Employer Identification Number)

888 Seventh Avenue

New York

10019

(Address of Principal Executive offices) (Zip Code)


Registrant’s telephone number including area code:	(212)	956-2556

Former name or former address, if changed since last report: N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Title of class of registered securities	Trading symbol	Name of exchange on which registered
Common shares of beneficial interest, par value $0.01 per share	UE	The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

This Current Report on Form 8-K is filed by Urban Edge Properties, a Maryland real estate investment trust (the “Company”), and Urban Edge Properties LP, a Delaware limited partnership through which the Company conducts substantially all of its operations (the “Operating Partnership”). The Company is the sole general partner of the Operating Partnership.

On September 29, 2021, the Company reached an agreement with Transform HoldCo LLC, the owner and operator of Sears and Kmart, to terminate its remaining leases at Bruckner Commons, Sunrise Mall and The Outlets of Montehiedra effective October 15, 2021. A payment of $20 million will be made by the Company to recapture control of these spaces. These leases contributed approximately $6.6 million of annual net operating income including tenant reimbursements for operating expenses, taxes and insurance and contributed an additional $3.3 million in annual non-cash earnings related to the amortization of below market leases.

Controlling these anchor spaces is a critical aspect of the value creation plans the Company has underway to reposition these spaces with uses that appeal to the respective communities where the properties are located.

Item 9.01. Financial Statements and Exhibits.


(d)			Exhibits


104						Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document)

Pursuant to the requirements of the Exchange Act, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.


		URBAN EDGE PROPERTIES
		(Registrant)


Date: October 4, 2021	By:	/s/ Mark Langer
		Mark Langer, Executive Vice President and Chief Financial Officer


		URBAN EDGE PROPERTIES LP
		By: Urban Edge Properties, General Partner


Date: October 4, 2021	By:	/s/ Mark Langer
		Mark Langer, Executive Vice President and Chief Financial Officer


CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934