GREENWICH, Conn.--(BUSINESS WIRE)--Urstadt Biddle Properties Inc. (NYSE:UBA), a self-administered equity real estate investment trust, today announced the closing of its previously announced underwritten public offering of 2,750,000 shares of its Class A common stock, resulting in approximately $64.0 million of proceeds to the Company before offering expenses. Deutsche Bank Securities Inc. acted as sole book-running manager for the public offering.

The Company intends to use the net proceeds to repay in full the outstanding borrowings under the Company's existing credit facility, including borrowings incurred in connection with the completion of the acquisition of the Newfield Green Shopping Center in Stamford, CT, with any remaining proceeds to be used for general corporate purposes. Pending the use of the net proceeds as described above, the Company may use the net proceeds to make investments in short-term, income-producing securities that are consistent with its qualification as a REIT.

Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 74 properties containing approximately 5.0 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties. It has paid 186 consecutive quarters of uninterrupted dividends to its stockholders since its inception and has raised total dividends to its stockholders for the last 22 consecutive years.