Urban Edge Reports 6% FFO Growth, 92.6% Occupancy and $849M Liquidity
Urban Edge Properties delivered adjusted FFO growth of 6% to $1.43 per share in 2025 and achieved a record 92.6% shop occupancy with 58 new leases yielding a 32% cash rent spread. The REIT completed $55 million in redevelopments at 19% unlevered yields and holds $849 million in undrawn liquidity.
1. Strong Adjusted FFO Growth
Urban Edge posted adjusted FFO of $1.43 per share for 2025, up 6% year over year, driven by same-property NOI growth of 5%. The board approved an 11% dividend increase to $0.84 per share annually.
2. Record Leasing and Occupancy
The company executed 58 new leases in 2025 with a 32% same-space cash rent spread and achieved record shop occupancy of 92.6%. A signed-but-not-open pipeline is expected to add over $22 million of annual gross rent.
3. Redevelopment Achievements
Urban Edge completed 14 redevelopment projects totaling $55 million in investment, generating unlevered yields of 19%. These initiatives contributed to robust NOI growth while enhancing portfolio quality.
4. Balance Sheet Strength and 2026 Outlook
At year-end 2025, net debt to EBITDA stood at 5.8 times with $849 million in undrawn liquidity and no credit line borrowings. Management guided 2026 FFO to $1.47–$1.52 per share and same-property NOI growth of 2.75%–3.75%.