Urstadt Biddle Properties Inc. (NYSE:UBA) acquired a 56,000 square foot retail shopping center located in Bloomfield, New Jersey for $11 million in December 2013. The property was purchased for $11 million subject to an existing mortgage in the amount of $7.8 million that requires payments of principal and interest at a fixed rate of 5.5% per annum. The transaction was funded with borrowings under Urstadt's facility.


Urstadt Biddle Properties Inc. (NYSE:UBA) completed the acquisition of a 56,000 square foot retail shopping center located in Bloomfield, New Jersey in December 2013.