Urban Edge Properties (UE) 2015年年度报告「NYSE」.pdf

1、URBAN EDGE PROPERTIES2015 ANNUAL REPORT March 31,2016To Our Shareholders,All of us here at Urban Edge Properties are pleased to provide you with our inaugural Annual Report.We completed the spin-off from Vornado Realty Trust on January 15,2015.We are grateful for Vornados thoughtful approach in stru

2、cturing Urban Edge to ensure its success.We are off to a great start and are excited about our platform,our properties,and our people.Our portfolio is unique,with nearly two-thirds of our asset value located in the New York metropolitan area,primarily in densely populated,affluent trade areas with s

3、ignificant barriers to entry.We are one of the largest retail real estate owners in the region,possessing unique local knowledge and expertise and enjoy material operational efficiencies.Assembling a comparable portfolio would take decades because so few assets of this quality ever trade in this reg

4、ion.We have formulated a strategic plan that increases same property net operating income(NOI)by 2-3%annually and that invests$300+million in redevelopment.Key redevelopment initiatives include expanding centers,repositioning anchors and other tenants and renovating properties.Many of our centers ar

5、e ripe for redevelopment due to their location,age,size and current tenancy.Over the next three years,we expect the implementation of this plan will produce a$5-6 per share increase in our net asset value(NAV)and a$0.24-0.29 per share increase in Recurring Funds from Operations(FFO)to$1.45-$1.50 per

6、 share.Our strategic plan can be found in the Investor section of our website().STOCK PERFORMANCEOur total shareholder return from 1/15/15 through 3/31/16 relative to comparable indices follows.Urban Edge is a component of the S&P MidCap 400 Index.Urban Edge Properties13.7%RMZ(REIT)Index2.0%Bloomber