Business
One Liberty Properties Reports First Quarter 2025 Results
— Closes on Previously Announced Purchase of Four Industrial Properties for $88.3 Million —— Completes Sale of Two Non-Industrial Assets for a $1.1 Million Gain — GREAT NECK, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (the “Company” or “One Liberty”) (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended March 31, 2025. “We continue to focus on evolving our portfolio towards industrial assets.
About this update from One Liberty Properties, Inc.
[{"type":"image","alt":"One Liberty Properties, Inc.","displaySize":"","headline":null,"caption":"One Liberty Properties, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":231,"height":113,"url":"https://media.zenfs.com/en/globenewswire.com/76a341743a76de724afea56098401824"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pAOVqq_IdqBQIuD_qLhtcA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTIwNTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/76a341743a76de724afea56098401824","width":231,"height":113}},"lazy":false},{"type":"text","content":"— Closes on Previously Announced Purchase of Four Industrial Properties for $88.3 Million —— Completes Sale of Two Non-Industrial Assets for a $1.1 Million Gain —","length":163,"tagName":"p"},{"type":"text","content":"GREAT NECK, N.Y., May 06, 2025 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (the “Company” or “One Liberty”) (NYSE: OLP), a real estate investment trust focused on net leased properties, today announced operating results for the quarter ended March 31, 2025.","length":262,"tagName":"p"},{"type":"text","content":"“We continue to focus on evolving our portfolio towards industrial assets. With the closing of an additional $88 million for four industrial properties and the sale of two non-industrial assets, we further strengthened our industrial platform with approximately 75% of our base rent being derived from this property sector,” stated Patrick J. Callan, Jr., One Liberty’s President and Chief Executive Officer. “We have progressed our portfolio towards greater cash flow stability, which will benefit us over the longer term. Despite current uncertain interest rate and economic environments, we believe that our disciplined approach will continue to serve us well as we move through the balance of the year and beyond.”","length":718,"tagName":"p"},{"type":"text","content":"Operating Results: ","length":18,"tagName":"p"},{"type":"text","content":"Rental income grew 7.7% to $24.2 million in the first quarter of 2025 compared to $22.4 million in the same prior year quarter. The growth was due primarily to the acquisition of seven industrial properties, offset by the sale of 11 assets (including nine non-industrial assets), in each case since January 1, 2024.","length":327,"tagName":"p"},{"type":"text","content":"Total operating expenses were $15.7 million in the firs...