Urstadt Biddle Properties Inc. Announces Acquisition of Two Properties of a Three Property Portfolio in New Jersey

  Urstadt Biddle Properties Inc. Announces Acquisition of Two Properties of a
  Three Property Portfolio in New Jersey

Business Wire

GREENWICH, Conn. -- January 4, 2013

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) announced today that it has
completed the purchase of the Bernards Square Medical Office Building in
Bernardsville, NJ and the Clockwork Childcare Center in Chester, NJ for a
combined purchase price of $6.45 million, excluding closing costs. Both
properties were purchased free and clear of mortgages. The $6.45 million
acquisition was funded with proceeds from the Company’s recently completed
stock offerings. The Bernards Square Medical Office Building, located in
affluent Bernardsville, New Jersey, in the County of Somerset contains 14,592
square feet of leasable space. The building is 76% leased primarily to doctors
and other professionals. The Clockwork Child Care Center located in the
affluent community of Chester, NJ, in the County of Morris contains a 9,120
square foot free standing child care facility net leased to a provider that
has multiple locations in and around New York, New Jersey and Connecticut. The
purchase of these two properties was part of a portfolio of three properties
owned by a local family. The remaining property is a grocery anchored shopping
center in the Company’s core market place. The closing of the shopping center
property is expected within ninety days. The two phased closing was due to the
need for lender approval of the transfer of the shopping center property.

Willing Biddle, President of Urstadt Biddle Properties Inc said, “We are very
pleased to continue the process of investing the capital we recently raised in
Class A Common stock and preferred stock offerings into income producing
properties. The Company was able to purchase two stable properties at
attractive cap rates and expects to acquire another grocery anchored shopping
center in our core marketplace in the near future. The Company hopes to
continue this acquisition momentum with the purchase of additional shopping
centers in the very near future in order to invest the remaining capital
raised from the recent stock offerings.”

Urstadt Biddle Properties Inc. is a self-administered equity real estate
investment trust which owns or has equity interests in 58 properties
containing approximately 5.0 million square feet of space. Listed on the New
York Stock Exchange since 1969, it provides investors with a means of
participating in ownership of income-producing properties. It has paid 172
consecutive quarters of uninterrupted dividends to its shareholders since its
inception and raised its dividend to its shareholders for the last 19
consecutive years.

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.

Contact:

Urstadt Biddle Properties Inc.
Willing L. Biddle, President or
John T. Hayes, CFO
203-863-8200
 
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