One Liberty Completes Acquisition Of Four Properties For $54.1 Mln

(RTTNews) - One Liberty Properties, Inc. (OLP) announced that it has completed the acquisition of four properties for $54.1 million in September 2013.

One Liberty said it also completed the previously announced $39.2 million acquisition of an approximately 700,000 square foot industrial facility located in Fort Mill, South Carolina and leased through April 2029 to Northern Tool & Equipment Company, Inc. and affiliates.

The purchase price includes about $27.3 million of mortgage debt with an annual interest rate of 4.875% and maturing in April 2029, the company said.

Also, the company closed on an approximately 125,600 square foot distribution facility located in Indianapolis, Indiana for about $9.27 million. The property is leased by Federal Express Corporation for a term which expires in February 2023.

One Liberty completed the acquisitions of two restaurants for $2.98 million and $2.64 million, respectively. One property is located in Ann Arbor, Michigan with a lease that expires in March 2027 and the other property is located in Myrtle Beach, South Carolina with a lease that expires in December 2032.