August 20, 2014 2:54 PM ET

Capital Markets

Company Overview of Liberty Property Limited Partnership

Company Overview

Liberty Property Limited Partnership provides leasing, property management, development, acquisition, and other tenant related services for industrial and office properties located in the Mid-Atlantic, Southeastern, and Mid western United States, as well as in the United Kingdom. The partnership’s industrial properties consist of warehouse, distribution, service, assembly, light manufacturing, and research and development facilities, which include both single-tenant and multi tenant facilities. Its office properties include multi-story and single-story office buildings located in suburban mixed-use developments or office parks. As of June 30, 2007, the partnership owned and operated 373 indu...

500 Chesterfield Parkway

Malvern, PA 19355

United States

Founded in 1994

Phone:

610-648-1700

Key Executives for Liberty Property Limited Partnership

Chairman of Liberty Property Trust
Age: 63
Chief Financial Officer of Liberty Property Trust - General Partner
Age: 66
Compensation as of Fiscal Year 2014.

Liberty Property Limited Partnership Key Developments

Liberty Property Trust Announces New $800 Million Unsecured Line Facility

Liberty Property Trust announced that Liberty Property Limited Partnership (together with Liberty Property Trust, Liberty) has entered into a new $800 million unsecured revolving credit facility maturing March 26, 2018, which replaces its previous $500 million credit line scheduled to mature November 2, 2015. Based upon Liberty's current credit ratings, borrowings under the new facility will bear interest at LIBOR plus 105 basis points, with a 20 basis point facility fee. Based on current credit ratings, interest under the previous facility was LIBOR plus 125 basis points, with a 25 basis point facility fee. The new line contains an accordion feature which allows Liberty to increase its credit facility amount up to $1.2 billion. Liberty also has options to extend the maturity date for up to one additional year. For this financing, Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC were Joint Lead Arrangers and Joint Bookrunners. Bank of America, N.A. is acting as Administrative Agent; JPMorgan Chase Bank, N.A. as Syndication Agent; PNC Bank, National Association, RBS Citizens Bank, N.A., US Bank National Association, and Wells Fargo Bank, National Association as Documentation Agents; Citibank, N.A. and Goldman Sachs Bank USA as Senior Managing Agents; and Capital One, National Association and Union Bank, N.A. as Managing Agents. Other participants include Branch Banking and Trust Company, SunTrust Bank, Regions Bank, TD Bank, N.A., and Huntington National Bank.

Liberty Property Limited Partnership Announces Unaudited Consolidated Earnings Results for the Nine Months Ended September 30, 2013

Liberty Property Limited Partnership announced unaudited consolidated earnings results for the nine months ended September 30, 2013. For the nine months, the company reported operating revenue of $536.18 million, operating income of $182.3 million, income before property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures of $88.78 million, income from continuing operations available to common shareholders of $94.16 million or diluted earnings per share of $0.73 compared to operating revenue of $497.14 million, operating income of $177.41 million, income before property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures of $95.52 million, income from continuing operations available to common shareholders of $91.34 million or diluted earnings per share of $0.75 for the same period last year. On proforma basis, the company reported operating revenue of $454.78 million, operating income of $151.59 million, income before property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures of $58.06 million, income from continuing operations available to common shareholders of $63.44 million or diluted earnings per share of $0.49 compared to operating revenue of $417.18 million, operating income of $145.14 million, income before property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures of $63.26 million, income from continuing operations available to common shareholders of $59.07 million or diluted earnings per share of $0.49 for the same period last year.

Liberty Property Mulls Acquisitions

Liberty Property Limited Partnership is seeking acquisition opportunities. Liberty Property will issue Debt Securities. The net proceeds, if any, from the sale of the Securities will be used for general corporate purposes. These purposes may include, among other things, the acquisition or development of properties or other assets.

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