Urban Edge Hires Danielle De Vita as Executive Vice President of Development

Rhea-AI Summary

Urban Edge Properties (NYSE:UE) has appointed Danielle De Vita as Executive Vice President of Development. Ms. De Vita previously led over $3 billion in development projects at Simon Property Group and brings extensive experience in retail property development. She will spearhead Urban Edge's redevelopment strategy, focusing on projects in New Jersey and New York. Additionally, the company reported an increase in rent collections for Q4 2020, reaching 92%, up from 87% in Q3 and 80% in Q2.

Positive

• Appointment of Danielle De Vita expected to enhance redevelopment strategy.
• De Vita's extensive experience includes directing over $3 billion in development projects.

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• None.

Urban Edge Properties (NYSE:UE) announced today the appointment of Danielle De Vita as Executive Vice President of Development.

Ms. De Vita most recently served as an Executive Vice President of Real Estate at Simon Property Group where she directed more than $3 billion of development projects in the Premium Outlet Platform. A lifelong resident of New Jersey, Ms. De Vita was with Simon for eighteen years and worked previously as a land use attorney. She completed developments and expansions of some of the most productive retail properties in the United States including Woodbury Common in New York, Orlando Premium Outlets in Florida, and Desert Hills Premium Outlets in California.

“Danielle’s proven track record will be of great value to Urban Edge as we continue to advance our redevelopment strategy,” said Jeff Olson, Chairman and Chief Executive Officer. “We are excited to welcome Danielle to our team where she will lead the execution of our redevelopment pipeline including projects at Bergen Town Center in Paramus, NJ, Yonkers Gateway Center in Yonkers, NY and Sunrise Mall in Massapequa, NY.”

The company is also pleased to report that fourth quarter 2020 rent collections have increased to 92% of billed rents and recoveries, up from 87% in third quarter and 80% in the second quarter.

ABOUT URBAN EDGE

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 79 properties totaling 16.3 million square feet of gross leasable area.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210113005841/en/

FAQ

Who is Danielle De Vita and what is her role at Urban Edge Properties?

Danielle De Vita has been appointed as Executive Vice President of Development at Urban Edge Properties, bringing a wealth of experience from her previous role at Simon Property Group.

What projects will Danielle De Vita oversee at Urban Edge?

Danielle De Vita will lead the execution of the redevelopment pipeline, including projects at Bergen Town Center, Yonkers Gateway Center, and Sunrise Mall.

How have Urban Edge's rent collections changed in Q4 2020?

In Q4 2020, Urban Edge reported rent collections increased to 92% of billed rents, up from 87% in the previous quarter.