Liberty Property Trust Completes Sale of 108 Properties for $969 Million

MALVERN, Pa., Oct. 03, 2016 (GLOBE NEWSWIRE) — Liberty Property Trust (NYSE:LPT) announced that it closed today on the sale of 108 properties in five markets totaling approximately 7.6 million square feet and 26.7 acres of land, for $969 million. The portfolio was purchased by Workspace Property Trust in concert with its strategic partner, Safanad Limited, and was 88.1% leased at closing.

A comprehensive list of assets included in this transaction is available at under news releases.

J.P. Morgan Securities, LLC served as financial advisor to Liberty in connection with this transaction.

With this sale, Liberty’s share of total dispositions to date for 2016 are $1.2 billion.

Third Quarter Disposition Activity
During the third quarter, joint ventures in which Liberty holds a 25% interest sold 13 properties in two markets totaling approximately 1.2 million square feet, for $139.2 million. In addition, Liberty sold one property which contained approximately 80,000 square feet for $4.4 million.

About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior office and industrial properties. Liberty’s 96 million square foot portfolio includes 566 properties which provide office, distribution and light manufacturing facilities to 1,200 tenants.

CONTACT: Inquiries: Jeanne Leonard, Liberty Property Trust, 610.648.1704

NPHC Disclosure: We hold not shares and will not be receiving any shares. This means that as we release new information about a particular client company either on our site or otherwise authored by us, you can be confident we don’t own shares, will not be buying shares and will not be selling shares. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. We expect to be compensated up to five thousand seven hundred dollars for coverage, assuming three months coverage. StockGuru – McKinney, Texas 75070 – (469) 358-5200.

Logo Header Menu