Urban Edge acquires retail center in Boston's Hyde Park for $32.9M

Jun. 28, 2022 2:11 AM ETUrban Edge Properties (UE)By: Meghavi Singh, SA News Editor
  • 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%.

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