Urban Edge Properties Acquires Interests in Yonkers Gateway Center in Yonkers, NY

The center benefits from a highly visible location along Central Park Avenue, a primary retail corridor in Westchester County, and is anchored by exceptionally productive retailers including Burlington Coat Factory, Best Buy, DSW, PetSmart and Alamo Drafthouse Cinema. UE obtained the interests in a $51.7 million transaction whereby the land owner received 1.8 million operating partnership units valued at $48.8 million and $2.9 million in cash.