- Urban Edge Properties (NYSE:UE) said on Monday that it has acquired The Shops at Riverwood, a fully-leased grocery-anchored, retail center located in Boston’s Hyde Park neighborhood for $32.9M.
The deal is in line with the company’s strategic plan of acquiring high-quality, infill real estate in a core retail market with attractive in-place yield and future growth potential.
The Shops at Riverwood covers 78,000 square feet across six stand-alone buildings.
The deal was completed by the company using cash-on-hand and a new $21.5M non-recourse first mortgage secured by the property.
The mortgage has a 7-year term at a fixed interest rate of 4.25%.