Urban Edge Properties Announces Successful Debt Refinancing at Las Catalinas Mall
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
- Eliminates
- Highlights Benefits of Secured Debt Strategy -
The prior CMBS loan was modified in 2020 to provide the Company with a discounted payoff option at
“As we continue to transform Las Catalinas Mall to drive the long-term growth of this asset, we are delighted to partner once again with Banco Popular, the leading banking institution on the Island,” said Jeff Olson, Chairman and Chief Executive Officer. “This refinancing has substantially reduced the outstanding debt on this property and underscores the benefits of our secured debt strategy.”
The Company reiterates its 2023 FFO as adjusted guidance of
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the
View source version on businesswire.com: https://www.businesswire.com/news/home/20230830905568/en/
For additional information:
Mark Langer, EVP and
Chief Financial Officer
212-956-2556
Source: Urban Edge Properties