Charles J. Urstadt, Chairman and Director Emeritus, Dies at 91
March 05 2020 - 10:39AM
Business Wire
Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) announced
that on March 3, 2020, Charles J. Urstadt, the Company’s former
Chairman and Director, died from complications arising from a
recent stroke. Mr. Urstadt was 91 years old. When he retired from
the Company’s Board of Directors on December 18, 2019, Charles J.
Urstadt had served more than 30 years as a director of Urstadt
Biddle Properties Inc., having joined its predecessor Hubbard Real
Estate Investments as a director in 1975. From 1986 to December
2018, he served as Chairman of the Board of Directors, and as Chief
Executive Officer from 1989 through 2013, when Willing L. Biddle
succeeded him as President and Chief Executive Officer. Under his
guidance, the Company became a leading owner of neighborhood
community shopping centers in the suburban New York City
region.
In addition to his achievements in the private sector, Charles
J. Urstadt’s legacy includes his public service as former chairman
of the Battery Park City Authority and commissioner of the New York
State Division of Housing and Community Renewal, as well as his two
years of service during the mid-1950s as a lieutenant in the United
States Navy. Mr. Urstadt melded a background in real estate, law
and a love of politics when he joined the administration of New
York Governor Nelson Rockefeller, who tapped him to lead efforts to
build large-scale public housing in 1967.
In his spare time, Charles J. Urstadt was an accomplished
amateur athlete. In his younger years, he competed for and won
multiples titles with the Bronx High School of Science and
Dartmouth College swim teams. He returned to the sport later in
life, winning the FINA World Masters Championships in the
breaststroke for men aged 70 or above, the age-group world title in
the 50-meter breast stroke in Munich in 2000 and the age-group
world title for the same event in Perth in 2008, setting a still
standing world championship meet record in the Perth event.
With Charles D. Urstadt, Chairman of the Board of Directors, and
Willing L. Biddle, President and Chief Executive Officer, already
at the helm, the Company stands on solid ground and recognizes the
immeasurable contributions of Charles J. Urstadt. He will be sorely
missed by employees, friends and family.
Urstadt Biddle Properties Inc. is a self-administered equity
real estate investment trust that owns or has equity interests in
81 properties containing approximately 5.3 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 200 consecutive quarters
of uninterrupted dividends to its shareholders since its inception
and has raised total dividends to its shareholders for the last 26
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.
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Willing Biddle, CEO John T. Hayes, CFO Urstadt Biddle Properties
Inc. (203) 863-8200
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