Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) announced today that it has completed the acquisition of all of the outstanding limited partner interests in the entity that owns The Ridgeway Shopping Center in Stamford, Connecticut. UBP now controls 100% of the property. The outstanding limited partner interests were acquired at a cost of $7.4 million. The company utilized available cash to fund the purchases.
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, risks associated with the timing of and costs associated with property improvements, financing commitments and general competitive factors.Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6564813&lang=en