One Liberty Properties Acquires Ten Industrial Properties, Comprising 637,633 sf Across Seven Logistics Markets

Rhea-AI Summary

One Liberty Properties (NYSE: OLP) acquired a 10-property industrial portfolio totaling 637,633 sf across seven logistics markets for an undisclosed purchase price described as below replacement cost.

The portfolio is 100% leased to six tenants, with average in-place rent below market and $246 million of industrial acquisitions over the last 12 months, driving industrial assets to 82% of portfolio ABR. Financing included a $17 million mortgage (7.5-year fixed at 5.53%) and ~$30 million drawn on a $100 million credit facility (floating ~5.45%).

Positive

• $246 million of industrial acquisitions in last 12 months
• Industrial assets now represent 82% of total portfolio ABR
• Acquired portfolio is 100% leased to six national/global tenants

Negative

• Approximately $30 million drawn on credit facility increases short-term leverage
• New mortgage and credit facility expose cash flows to ~5.45–5.53% interest costs
• Average in-place rent is below market, potentially limiting near-term rental cash yield

Key Figures

Industrial acquisitions: $246 million Portfolio size: 637,633 square feet Properties acquired: 10 properties +5 more

8 metrics

Industrial acquisitions $246 million Industrial asset acquisitions over the last 12 months

Portfolio size 637,633 square feet Ten industrial properties acquired in logistics markets

Properties acquired 10 properties Industrial portfolio added in this transaction

Mortgage financing $17 million Mortgage placed on six of the acquired properties

Credit facility draw Approximately $30 million Borrowing under $100 million credit facility for acquisition

Mortgage term 7.5 years Term of acquisition mortgage with initial interest-only period

Mortgage rate 5.53% Fixed interest rate on 7.5-year mortgage

Credit facility rate 5.45% Current floating interest rate on credit facility

Market Reality Check

Price: $21.55 Vol: Volume 77,075 is close to...

normal vol

$21.55 Last Close

Volume Volume 77,075 is close to the 20-day average 80,662, suggesting no unusual trading interest ahead of this acquisition headline. normal

Technical Shares trade below the 200-day MA, with price at 20.62 versus 200-day MA of 22.48.

Peers on Argus

OLP fell 2.55% while peers like CTO, GOOD, AHH, SAFE, and GNL were down roughly ...

OLP fell 2.55% while peers like CTO, GOOD, AHH, SAFE, and GNL were down roughly 1–2%. This points to broader REIT softness, but the momentum scanner did not flag a coordinated sector move around this news.

Historical Context

5 past events · Latest: Dec 22 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 22	Industrial acquisition	Positive	-1.1%	Closed a $53.5M six-building industrial portfolio at 93% occupancy.
Dec 09	Dividend declaration	Positive	+0.3%	Declared $0.45 dividend, 132nd consecutive quarterly payment.
Nov 06	Q3 2025 earnings	Positive	+2.7%	Reported higher net income and ~80% ABR from industrial assets.
Sep 10	Dividend declaration	Positive	-0.9%	Announced 131st consecutive $0.45 quarterly dividend.
Aug 05	Q2 2025 earnings	Positive	-0.3%	Posted 12.3% rental income growth and outlined industrial acquisitions.

Pattern Detected

Recent history shows mixed reactions: predominantly positive operational and dividend news, yet 3 of 5 events saw negative next-day moves, indicating a tendency for the stock to occasionally trade lower even on favorable updates.

Recent Company History

Over the last six months, One Liberty has consistently emphasized its industrial transformation. Earnings in Q2 and Q3 2025 highlighted growing industrial ABR and solid FFO/AFFO metrics. The company executed roughly $189M of 2025 acquisitions, including a $53.5M six-building industrial portfolio, while maintaining a steady $0.45 dividend across multiple quarters. Today’s industrial acquisition continues that strategy of expanding industrial exposure and recycling capital from non-core assets.

Market Pulse Summary

This announcement adds a 637,633 sf ten-property industrial portfolio to OLP’s footprint, contributi...

Analysis

This announcement adds a 637,633 sf ten-property industrial portfolio to OLP’s footprint, contributing to $246 million of industrial acquisitions over the last year and reinforcing that industrial assets drive about 82% of portfolio base rent. The deal is financed with a $17 million fixed-rate mortgage at 5.53% and an incremental draw on a $100 million credit facility. Investors may monitor lease terms, rent mark-to-market potential, and the company’s plans for additional financing on two properties.

Key Terms

mark-to-market, credit facility, interest only, amortization schedule, +2 more

6 terms

mark-to-market financial

"Properties Afford Meaningful Long-Term Mark-to-Market Opportunity"

"Mark-to-market" is a method of valuing assets or investments based on their current market price, rather than their original cost or value. It helps investors see the most up-to-date worth of their holdings, much like checking the latest price of a stock before deciding to buy or sell. This approach ensures that financial statements reflect real-time value, providing a clearer picture of overall financial health.

credit facility financial

"approximately $30 million borrowing under its $100 million credit facility"

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

interest only financial

"bears interest at a fixed rate of 5.53% (interest only for six months"

An "interest only" loan lets the borrower pay only the interest portion of a loan for a set initial period, so the outstanding principal balance does not decrease during that time. For investors, this matters because it changes cash flow and risk: borrowers have lower short-term payments but face bigger payments or a lump-sum at the end, which can raise default risk and affect the value and income of lenders or securities backed by such loans. Think of it as renting the money before you start paying the mortgage itself.

amortization schedule financial

"thereafter on a 30-year amortization schedule"

A schedule that lays out each planned payment on a loan or debt over its life, showing how much of each payment reduces the original amount owed and how much pays the borrowing cost. Investors use it like a repayment roadmap to see when cash will be required, how quickly debt will shrink, and how interest costs affect a company’s future cash flow and profitability — important for valuing a business or assessing financial risk.

industrial outdoor storage technical

"many benefiting from industrial outdoor storage or excess trailer parking"

Industrial outdoor storage is the keeping of equipment, raw materials, shipping containers or finished goods in secured yards, lots or open-air racks at industrial properties instead of inside buildings. For investors it matters because outdoor storage can change rental income, operating costs, insurance and environmental or zoning risks — like using a driveway instead of a garage, it’s cheaper space but brings different liabilities and value implications for property owners and tenants.

clear height technical

"average clear height exceeding 24 feet"

Clear height is the usable vertical space inside a building measured from the finished floor to the lowest point of any overhead obstruction, such as sprinklers, lighting, ductwork or structural beams. For investors, it matters because taller clear height increases how much inventory can be stacked or how easily automated equipment can operate, similar to how a taller garage lets you store more or fit larger tools, which affects rental value and operating efficiency.

AI-generated analysis. Not financial advice.

– 79 Industrial Properties Will Comprise 82% of Total Portfolio Base Rent –
– Properties Afford Meaningful Long-Term Mark-to-Market Opportunity –
– Record Industrial Acquisition Activity Adds $246 Million Over the Last 12 Months –

GREAT NECK, N.Y., Jan. 29, 2026 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE: OLP), a real estate investment trust focused on the ownership of industrial properties, today announced it has acquired a 637,633 square foot portfolio of ten well-located industrial properties, below replacement cost. The ten-property portfolio is 100% leased to six tenants, each of which has a global or national presence. The two largest tenants are wholly owned subsidiaries of investment grade companies. The average in place rent is below market, providing attractive mark to market upside.

OLP financed the acquisition with a $17 million mortgage on six properties, and an approximately $30 million borrowing under its $100 million credit facility. The 7.5-year mortgage bears interest at a fixed rate of 5.53% (interest only for six months and thereafter on a 30-year amortization schedule). The credit facility bears a current floating interest rate of 5.45%. OLP anticipates obtaining additional financing on two other properties in the portfolio and using the net proceeds to pay down the credit facility.

Patrick J. Callan, Jr., President and Chief Executive Officer of One Liberty stated, “With $246 million of industrial asset acquisitions, the last 12 months have been historic for the Company. Through accretive capital recycling, our industrial platform represents 82% of the total portfolio ABR. This portfolio acquisition of well-located facilities – each fully occupied and supported by strong contractual rent increases and significant mark-to-market upside – expands our footprint in supply-chain critical markets, further enhances the durability of our cash flows, and positions us to add incremental growth over time.”

The properties are situated in seven diverse and growing distribution markets of Greensboro, NC, Columbia, SC, Birmingham, AL, Omaha, NE, Oklahoma City, OK, Salt Lake City, UT and Jackson, MS. The single-tenant buildings are modern, functional, with an average size of 64,000 square feet, average construction year of 2004, average clear height exceeding 24 feet, with many benefiting from industrial outdoor storage or excess trailer parking.

Forward Looking Statement:

Certain information contained in this press release, together with other statements and information publicly disseminated by One Liberty Properties, Inc. is forward looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. We intend such forward looking statements to be covered by the safe harbor provision for forward looking statements contained in the Private Securities Litigation Reform Act of 1995 and include this statement for the purpose of complying with these safe harbor provisions. Forward looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “could,” “believe,” “expect,” “intend,” “anticipate,” “estimate,” “project,” or similar expressions or variations thereof. Information regarding important factors that could cause actual outcomes or other events to differ materially from any such forward looking statements appear in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and the reports filed with the Securities and Exchange Commission thereafter; in particular, the sections of such reports entitled “Cautionary Note Regarding Forward Looking Statements”, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”, included therein. In addition, estimates of rental income or base rent exclude any related variable rent; anticipated property purchases, sales, financings and/or refinancings may not be completed during the period or on the terms indicated or at all; anticipated rent increases tied to filling of vacancies or as a result of market-to-market opportunities (i.e., renewing leased premises at higher rental rates) may not be realized; and estimates of gains from property sales or proceeds from financing or refinancing transactions are subject to adjustment, among other things, because actual closing costs may differ from the estimated costs. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and which could materially affect the Company’s results of operations, financial condition, cash flows, performance or future achievements or events.

About One Liberty Properties

The Company acquires, owns and manages a geographically diversified portfolio consisting primarily of industrial properties.

Contact:
One Liberty Properties
Investor Relations
Phone: (516) 466-3100
www.1liberty.com

FAQ

What did One Liberty Properties (OLP) acquire on January 29, 2026?

OLP acquired a 10-property industrial portfolio totaling 637,633 sf. According to the company, the assets span seven logistics markets, are 100% leased, and were purchased below replacement cost.

How did One Liberty finance the January 2026 industrial acquisition by OLP?

Financing included a $17 million mortgage and ~$30 million drawn on a $100 million credit facility. According to the company, the mortgage is 7.5 years fixed at 5.53% and the facility currently floats at 5.45%.

What is the significance of the acquisition for One Liberty Properties' (OLP) portfolio mix?

The deal helps industrial assets reach 82% of total portfolio ABR, increasing exposure to logistics real estate. According to the company, this expands supply-chain market footprint and supports cash-flow durability.

Who are the tenants in the acquired One Liberty (OLP) industrial portfolio?

The ten properties are leased to six tenants, including two subsidiaries of investment-grade companies. According to the company, tenants have national or global presence and full occupancy across the portfolio.

What upside does One Liberty (OLP) expect from the acquired industrial properties?

OLP cites attractive mark-to-market upside because average in-place rent is below market. According to the company, contractual rent increases and below-market rents create potential for rental growth over time.