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Urstadt Biddle Properties Inc. Announces the Sale of Its Westchester Pavilion Property Located in White Plains, NY

Urstadt Biddle Properties Inc. (the "Company") (NYSE: UBA and UBP), a real estate investment trust, announced today that it has completed the sale of its Westchester Pavilion Property located in White Plains, NY (the "Pavilion"). The purchaser is Maple and Broadway Holdings, LLC, a subsidiary of Lennar Corporation ("Lennar") (NYSE: LEN) through its Lennar Multi-Family Communities, LLC subsidiary. Lennar is one of the United States' largest homebuilders. The current plan is for the property to be

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